Gold Rate In India Stable At Rs 1.3 Lakh! Will 24K, 22K, 18K Return To Action Post Diwali? 22 Oct Outlook

Gold Rate in India: The price of gold in India declined on Diwali, October 20, as people celebrated the festival with lights and laughter. The minor gold price correction on Diwali has raised expectations of further decline in gold and silver prices. Now, all eyes will be on the post-Diwali gold price movement on Tuesday, October 22.

Meanwhile, the international gold rate surged to a record-high mark on Diwali, Monday, October 20. The surge in gold prices was the result of rising investor tensions ahead of the upcoming US Fed rate announcement and extended US shutdown fears.

Gold Rate in India

The price of 24 karat gold in India surged and remained at Rs 1,30,690 per 10 grams. Whereas, 22 karat gold rate in India on Diwali stood at Rs 1,19,800 per 10 grams. The price of 18 karat gold in India increased to Rs 9,801 per 10 grams.

Gold rate in India has surged nearly more than 60% since the beginning of the year 2025. The massive gold price rally has come against the backdrop of geopolitical uncertainty, trade tensions and macroeconomic scenario.

Silver Rate in India

The price of silver in India remained stable on Diwali. Silver rate in India stood at Rs 172 per gram and at Rs 1,72,000 per kilogram. There has been a sharp surge in the silver prices since the beginning of the year due to strong industrial demand and continued investor buying.

Gold, Silver Rate MCX

Gold Futures with December expiry closed at Rs 127008 per 10 gram on Monday, October 20. Whereas, Gold futures with November expiry closed at 1,25,951 per 10 gram. Silver futures with December expiry closed lower at Rs 1,56,604 per kilogram.

Gold, Silver Price Outlook

Gold and silver prices may see some surge on Tuesday in alignment with the jump in international gold rates on Monday. According to experts, the recent price correction has emerged as a 'buy on dips' opportunity and the prices may surge in the coming months.
"The outlook for gold remains constructive amid policy uncertainty, slower growth, and persistent geopolitical risks. While short-term corrections are possible after the recent rally, the underlying supports - strong central bank buying, ETF inflows, and currency diversification - remain intact," noted Motilal Oswal in its report.

"For Silver, we have achieved our domestic and COMEX target of ₹1,50,000 and $50. Sustained momentum above the all-time highs could extend this rally towards $75 on COMEX and ₹2, 30,000 domestically, assuming USDINR at 89, from a long term perspective," noted Motilal Oswal experts.