Gold Rate In India Rises Again: 24K Gold Jumps By Rs.540 on Oct 27; Check 1g, 10g, 100g Rates Across Cities

Gold prices in India have surged for the second consecutive session this week, making the yellow metal Rs. 7,100 more expensive per 100 grams.

Gold prices in the domestic market are rising because of the strong positive cues from global markets, where gold is hovering near $4020 per ounce, gaining some support after back-to-back drops. The next major trigger will now come from the U.S. Federal Reserve's next moves on interest rates, which will have an impact on non-yielding gold.

Gold Rates In India Today

On 27th October, the 24-carat gold rates in India spiked by Rs. 540 to cost Rs. 1,43,290, while the 22-carat gold jumped Rs.500 to retail at Rs. 1,31,350. Meanwhile, the 18-carat gold rates in India also soared to Rs. 510, currently at Rs. 1,07,570.

100 grams of 22-carat gold jumped by Rs. 5000, bringing the price to Rs. 13,13,500. In a similar manner, the 24-carat gold per 100 grams surged Rs. 540 to retail at Rs. 1,43,290.

Lastly, 18-carat gold rates rose to Rs. 510 per 100 grams, costing Rs. 1,07,570.

Gold Rates In Major Indian Cities Today

City	24K Gold (10g)	22K Gold (10g)	18K Gold (10g)
Chennai	Rs 1,43,290	Rs 1,31,350	Rs 1,07,500
Mumbai	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Delhi	Rs 1,43,440	Rs 1,31,500	Rs 1,07,620
Kolkata	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Bangalore	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Hyderabad	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Kerala	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Pune	Rs 1,43,290	Rs 1,31,350	Rs 1,07,570
Vadodara	Rs 1,43,340	Rs 1,31,400	Rs 1,07,520
Ahmedabad	Rs 1,43,340	Rs 1,31,400	Rs 1,07,520

Silver Rates in India Today

Silver rates in India today are maintaining stability, with no gains or losses over the days per kilogram of silver now costs Rs. 2,20,000 and 100 grams of white metal now cost Rs. 22,000.

MCX Gold and Silver Futures Update

Gold futures on the Multi Commodity Exchange (MCX), set to be delivered on December 5th slipped 438 points or 0.31% and are currently trading at Rs. 1,42,635. Meanwhile, silver futures, with a delivery date of December 5th are also down by 1.28%, reaching Rs.1,93,287 per kg.

"Gold posted its worst week since June, with MCX gold down 4% to Rs. 1.42 lakh. Silver dropped 5.4% to $53.90 and 7.3% on MCX to Rs. 1.96 lakh. With the dollar and rupee flat, the sell-off came from oil, rates and forced selling. Houthi strikes on Saudi infrastructure pushed Brent above $116, which markets read as inflationary, lifting December hike odds to 78%. Central bank buying and Indian ETF inflows offer support, and Dhanteras and Diwali demand should cushion dips," said Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of IBJA and Chairman at Jain International Trade Organisation

Market insight on Gold Prices

According to the research report from ICICI Direct Commodity Research, "Gold and silver prices edged higher as retreating oil prices tempered inflation concerns ahead of this week's US Federal Reserve meeting. Meanwhile, sharp upside was limited amid a firm dollar. Spot Gold is expected to remain under pressure and dip towards $3950 ahead of the U.S. Fed meeting. Further, elevated crude oil prices have raised inflation concerns and reinforced expectations that interest rates could remain elevated for longer periods."

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