Gold Rate In India Today, October 10: 24K, 22K, 18K Gold Prices Rise Before Navaratri; Check Latest Rates

Gold prices in India extended their recovery on Saturday, October 10, with 24K gold climbing back above the Rs. 1.51 lakh mark per 10 grams. The latest gold rate in India today stands at Rs. 1,51,420 per 10 grams for 24-carat gold, up Rs. 710 from Friday.

The rebound in gold prices today comes as the US dollar and Treasury yields cooled, improving the appeal of the non-yielding yellow metal. Globally, spot gold was trading around $4,174.78 an ounce on Friday, recovering from $4,118.63 in the previous session.

Markets are now closely watching upcoming US inflation data for clues about the US Federal Reserve's interest rate outlook, which could have a major impact on gold prices in the coming sessions.

Gold Rate Today In India: 24K, 22K And 18K Gold Price

The gold rate today in India has moved higher across all major purity categories.

24K gold price today is Rs. 1,51,420 per 10 grams, up Rs. 710 or around 0.47% from Friday. For buyers purchasing 100 grams, the 24 carat gold price is Rs.15,14,200, an increase of Rs. 7,100.

22K gold price today, which is widely preferred for jewellery, is Rs. 1,38,800 per 10 grams, up Rs. 650 from the previous session. The 22 carat gold price for 100 grams is Rs. 13,88,000, higher by Rs. 6,500.

Meanwhile, the 18K gold rate today is Rs. 1,13,570 per 10 grams, up Rs. 540. For 100 grams, 18K gold is priced at Rs. 11,35,700, an increase of Rs. 5,400.

For buyers looking at an 8-gram quantity or one sovereign, the price works out to around Rs. 1,21,136 for 24K gold and Rs. 1,11,040 for 22K gold.

Gold Rate In India: 10-Day Price Movement

Gold has been volatile over the past several sessions as investors weighed movements in the US dollar, Treasury yields, crude oil prices and expectations surrounding the Federal Reserve.

For comparison, 24K gold was around Rs. 1,49,180 per 10 grams on October 6. At Rs. 1,51,420 today, the price is approximately Rs. 2,240 higher, representing a rise of around 1.5% in just four sessions.

Silver Rate Today In India

Silver has also gained alongside gold, with international spot silver rising around 2% to approximately $60.40 per ounce.
The silver rate today in India is around Rs. 2,35,000 per kg.

MCX Gold Price Today

The MCX gold price has also recovered after the sharp decline earlier in the week. Gold futures had fallen towards the Rs. 1.49 lakh level before rebounding above Rs. 1.51 lakh.

Gold Price Outlook: Should You Buy Gold Now?

Gold extended rebound, with spot gold briefly rising above $4,200/oz and silver gained momentum and surged above $60/oz, supported by a softer US dollar, easing Treasury yields and lower oil prices. Strong demand at the latest 30-year Treasury auction helped ease pressure on long-dated yields, improving the near-term outlook for non-yielding assets.

However, gold's retreat below $4,180/oz suggests that upside momentum remains fragile. The key constraint is the Federal Reserve's hawkish stance, with policymakers signalling that further tightening may be necessary to bring inflation back to target." said Kaynat Chainwala, AVP Commodity Research, Kotak Neo

"Expectations of another rate hike continue to limit the scope for a sustained rally, keeping markets particularly sensitive to incoming inflation data and shifts in rate expectations. In the near term, gold and silver are likely to remain rangebound, with the dollar and Treasury yields dictating the direction of trade. Attention will now shift to next week's US CPI release, due on October 14, which will be a major test for expectations around the Fed's policy path. Until there is a clearer macro turnaround in yields and the dollar, or a major diplomatic breakthrough in the US-Iran situation, gold and silver upside looks capped." he added