Gold Rate in India Today, October 1: Gold Prices Fall Again; Check 24K, 22K, 18K Gold & Silver Rates

Gold prices in India fell sharply as the festive season is slowly approaching. The week began on a bearish note, with gold rates in India slipping.
The price of 24K gold has now slipped below the Rs. 1,50,000 per 10 grams mark. On the global front, spot gold dropped under the crucial $4,200 per ounce level as better inflation data indicates that the Fed might cut rates going forward.

Gold Rate in India Today

As of October 1st, Thursday, 24-carat gold rates in India fell Rs.330 per 10 grams to cost Rs. 1,49,240. While the 22-carat gold price in India slipped by Rs. 330 per 10 grams, it costs Rs.1,36,800. Similarly, the smaller 18-carat gold rates declined by Rs.250 to retail at Rs. 1,11,930 per 10 grams.

And just like that, 100 grams of 24-carat gold now retail at Rs 14,92,400, and the 22-carat gold rates per 100 grams now cost Rs 13,68,000.

Silver Prices In India Today

Silver rates in India today slipped after two consecutive days of no movement. On the 1st of October 1kg of silver in India cost Rs.2,35,000 after falling by Rs. 5000. While 100 g of silver rates in India retail at Rs 23,500.

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

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

Gold Price in Chennai
The current 24-carat gold price in Chennai is Rs 1,49,240 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 1,36,800 per 10 grams.

Gold Price in Bangalore
As of today, the 22-carat gold rate in Bangalore stands at Rs 1,49,240 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 1,36,800 per 10 grams.

Gold Price in Hyderabad
The 22K gold price in Hyderabad is Rs. 1,36,800 per 10 grams, while the 24K gold price in Hyderabad is Rs 1,49,240 per 10 grams.

Gold Price in Mumbai
The 22-carat gold in Mumbai is Rs. 1,36,800 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs 1,49,240 per 10 grams.

MCX Gold and Silver Prices

Gold futures on the multi-commodity exchange on Thursday which are going to mature on October 5th, are trading at Rs.1,48,106 up by 1.36%. While silver futures prices set to mature on December 4th are trading 1.18% higher at Rs. 2,26,350.

Spot Gold Price and Spot Silver Rate

Spot gold prices gave up early gains to settle lower, driven down by strong US economic data that fueled expectations of tighter monetary policy this year. Spot gold is expected to face resistance near $4,200 level and slip toward $4,100 pressured by firm US dollar and rising Treasury yields. Concerns over persistent, energy-driven inflation and higher bond yields are likely to weigh on prices."ICICI Direct Daily Commodity Outlook, it said.

Gold Prices Analysis

"Bullion fluctuated between a gain of 0.9% and a loss of 0.7%. Traders now price in roughly 40% chance of a rate increase at the US central bank's meeting next month. The Fed's preferred measure of underlying inflation, the personal consumption expenditures price index excluding food and energy, rose a less-than-expected 0.2% in August. The prior month was also revised lower. Gold is on course to end September down more than 6%, its worst monthly loss since June, after the Fed hiked rates for the first time since 2023 and signaled that further tightening may be needed." According to Nirmal Bang Securities,

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