Gold Rate in India Today, Oct 17: 24K, 22K, 18K Prices Hit Lifetime High Before Dhanteras; Silver Price Drops

The sharp rally in gold prices in India is ongoing with no signs of stopping as just this morning gold rates in India have become Rs. 33,300 costlier per 100 grams of yellow metal. India will celebrate Dhanteras tomorrow which is the major gold buying festival of the year. People rush to local jewellers and retailers to make their annual purchase of gold & silver jewelry.

This huge spike in the gold rate is due to multiple factors, the major one being the US-China trade war. The uncertainty in the market has caused the US dollar index to decline to monthly low, along with a dip in the treasury yields, which made gold more preferential for buyers.Spot gold in the international market is also trading at a record level Crossing $4300 per ounce.

Gold Rate in India Today

As of 17th October, Friday, the 24-carat gold rate in India jumped by Rs. 3330 per 10 grams to cost Rs 1,33,770 per 10 grams.
The 22-carat gold price in India rallied by Rs. 3000 per 10 grams to reach Rs.1,21,700

In a similar manner, the 18-carat gold rates spiked by Rs 2500 per 10 grams to cost Rs. 99,580

Just like that,the higher weight quantities of gold also experienced the price hike. The 100 grams of 24-carat gold rate stands at Rs 13,27,700 ,and the 22-carat gold rate is currently at Rs 12,17,000 per 100 grams of gold.

Silver Rates in India Today

Silver prices in India on Friday declined after a continuous rally, which is taking the white metal to 2lac per kg levels. On 17th October, 1kg of silver in India cost Rs. 1,85,000 after dropping Rs. 4000 while 100g of silver in India retails at Rs. 18,500

MCX Gold Price and Silver Price

Gold prices on the MCX also touched record high levels. At the time of writing, gold futures prices due to mature on December 5th, 2025 is trading 1.61% higher at Rs, 1,31,332 per 10 garms. While Silver futures, which are also maturing on December 5, 2025, spiked today, currently trading 1% up at Rs 1,69,332 per Kg

Latest 22-Carat & 24-Carat Gold Prices Across India: City-Wise

The current gold rate for 22-carat gold and 24-carat gold in major Indian cities are similar to national gold prices today.

Gold Price in Chennai

Gold Price in Bangalore

Gold in Price in Hyderabad

Gold Price in Mumbai

Spot Gold Price and Spot Silver Rate

According to a latest report by Reuters, Spot gold rose 0.9% to $4,362.39 per ounce, as of 0439 GMT, after scaling another record high of $4,378.69 earlier. U.S. gold futures for December delivery jumped 1.7% to $4,375.50.Spot silver rose 0.3% to $54.41 per ounce, set for an 8.2% weekly gain."

Market Outlook for Gold Prices

ICICI's daily commodity outlook mentioned, "Spot Gold is likely to hold its gains and move higher on safe haven demand and rate cut optimism. Further renewed concerns over bad debt in US regional banks heightened broader credit market stress. Additionally, dovish comments from the US Fed members fueled the bets of loose monetary policy from the US Fed. Concerns over US labor market and steady inflation numbers has pushed the prospects of two rate cuts in this year. Prices would also get support from economic uncertainty and extension in US Government shutdown which could bring more inflows via ETFs."

Regarding the outlook for gold prices, the report stated, "Gold is likely to move higher towards $4400, as long as it holds above $4250."

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