Gold Rate In India Outlook: 24K At Historic High Amid Festive Demand, US Shutdown Fears, All Eyes On RBI MPC

Gold Rate in India Outlook: US shutdown fears, tariff uncertainty, weak Indian currency valuations, and strong festive season demand are among the key factors fuelling the gold price record rally. After witnessing their best-ever monthly gain in September in 14 years, gold prices will remain highly volatile on Wednesday, October 1.

Uncertainty around the US government shutdown will push global investors towards gold. The US government funding is at stake and may collapse by the end of Tuesday if President Donald Trump's Republican Party fail to bring consensus with opposition Democrats on a way forward on a spending bill.

Back in India, the Reserve Bank of India's October monetary policy committee (MPC) decision will also impact the market sentiment. The upcoming Dussehra and Diwali festivals will continue to drive demand for gold in India. For gold buyers who closely track gold and silver prices in India, here is the outlook for both precious metals so that they can plan their decisions accordingly.

Gold Rate in India

The price of gold reached to its record high levels on Tuesday, September 30. The price of 24 karat gold in India increased by Rs 55 to Rs 11,744 per gram. Likewise, the price of 22 karat gold in India surged by Rs 50 to Rs 10,765 per gram. Similarly, the price of 18 karat per gram increased by Rs 41 to Rs 8,808 per gram

The gold rate in India has jumped more than 45% since the beginning of the year 2025. In September, the precious metal's valuation has surged by more than 15%.

Silver Rate in India

Silver rate in India has increased significantly over the past few months given its strong industrial demand and attractive valuations compared to gold. The price of silver in India increased on Tuesday to Rs 151 per gram and to Rs 1,51,000 per kilogram.

Gold, Silver Rate Today On MCX

Mirroring the global trend around silver and gold, the precious metal witnessed a volatile session at MCX. The MCX gold futures with October 3, 2025 expiry, closed 0.83% higher at Rs 1,16,410 per 10 gram. Meanwhile, MCX silver with the December expiry fell by 0.01% at Rs 17,835 per gram.

International Gold Rate Today

The international gold rates on Tuesday witnessed some price corrections. The precious metal's rate fell to $3,845 per ounce on September 30 after surging to a record high mark, according to Trading economics. The decline in gold rate came as investors attempted to book profit amid expectations that Chinese investors are likely to cut exposure ahead of the Golden Week holiday.

Gold Price Outlook: Will Price Rise Further?

Gold prices in India are likely to depend on a range of factors which will drive the investors sentiment. The RBI is set to announced its repo rate decision after the conclusion of its MPC meeting on Wednesday. Meanwhile, there will be some clarity around developments around US government shutdown. Whereas, the festive season demand will contribute in boosting the gold demand among Indian investors.

"Gold prices are currently benefitting from the pressures of global safe-haven demand and a weakening rupee. The price of24-karat gold is now about ₹1,15,454 per 10 grams, reflecting the recent bump in domestic demand. The upward trend is consistent with gold futures pushing to new highs and receiving inflows into gold ETFs, as the recent market watch explained," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures. Kamboj also adds that the gold prices will continue to remain in their recent elevated range unless "global monetary policy surprises or dollar strength returns."

Silver Price Outlook

The price of silver is likely to rise further as investors are diversifying their portfolio with the metal given its attractive valuations against gold. "In commodities, silver stood out, reaching a record ₹1.51 lakh/kg in India. Globally, it gained 18.2% over the month, supported by strong industrial demand, a weaker dollar, and safe-haven buying. With year-to-date returns of 37% on MCX, Comex silver appears poised to test $50/oz in the near term," noted Vikram Kasat, Head - Advisory, PL Capital.

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