Gold Rate in India Today Surges Again, Oct 19: 22K/100g Gold Shoots Up Rs.3500, Silver Stable

The gold rate in India today saw another sharp spike, continuing their gains after a brief pause seen yesterday. After last week's steep decline, the gold rate in India has rebounded strongly as the new week begins, due to bullish sentiment among investors and jewellers.

As of today, the 22-carat gold price in India has climbed back to above Rs. 1.48 lac per 10 grams, while the 24-carat gold rate has surged past Rs. 1.35lac per 10 grams in major cities like Delhi, Mumbai, and Chennai. Although gold rates underwent a solid recovery, they still remain slightly below this year's record high.

Gold Rate in India Today

Gold Rate in India Today

On Monday, October 19th, the 22-carat gold rate in India surged by Rs.380 per 10 grams to cost Rs.1,35,700 per 10 grams. While the 24-carat gold prices today jumped by Rs.350 and cost Rs. 1,48,040 per 10 grams. Similarly, the 18-carat gold rate today also rose by Rs.290 per 10 grams to cost Rs. 1,11,030.

In a similar manner, the 100 grams of 22-carat gold stand at Rs. 13,57,000 after gaining Rs. While the 24-carat gold price in India per 100 grams is now retailing at Rs. 9,846, which jumped by Rs 27,500.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures slated to mature on December 5th, also rose sharply and are currently trading at Rs. 1,48,413 after jumping 0.33%. Similarly, silver futures, which are set to mature on December 4th, increased today by 0.56% to trade at Rs. 2,12,370 at the time of writing.

City-Wise Gold Rates Today

Major metropolitan cities in India, including Chennai, Mumbai, Bangalore, and Hyderabad, mirrored this big rise in the gold rates today. Here's the latest city-wise update on 22-carat and 24-carat gold rates on 19th October.

In Chennai, the 24-carat gold rate stands at Rs.1,48,040 per 10 grams, while the 22-carat gold price in Chennai is Rs.1,35,700 per 10 grams.

In Bangalore, the gold rate for 24-carat is Rs. 1,48,040 per 10 grams, and the 22-carat gold rate in Bangalore is Rs.1,35,700 per 10 grams.

In Hyderabad, the 24K gold price is Rs. 1,48,040 per 10 grams, and the 22K gold rate in Hyderabad is Rs.1,35,700 per 10 grams.

In Mumbai, the 22-carat gold rate is Rs.1,35,700 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs. 1,48,040 per 10 grams.

Silver Rate in India Today

Silver prices in India have been stable for several days in a row now. Today 1kg of silver in India costs Rs. 2,30,000. While 100g of silver rates in India cost Rs. 23,000.

Market Outlook for Gold Prices

"Gold and silver prices remain subdued on Friday as traders weighed the prospect of further Federal Reserve rate hikes this year following a run of hotter-than-expected US inflation data. Meanwhile, prices found support on softening of dollar and U.S treasury yields. Spot Gold is expected to rise towards $4220 as long as it holds above $4120 on softening of dollar and U.S treasury yields. Dovish comments from Fed officials have strengthened the bets of no rate hike in the October meeting " As per the ICICI Securities Commodities Report.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.

Notifications
Settings
Clear Notifications
Notifications
Use the toggle to switch on notifications
  • Block for 8 hours
  • Block for 12 hours
  • Block for 24 hours
  • Don't block
Gender
Select your Gender
  • Male
  • Female
  • Others
Age
Select your Age Range
  • Under 18
  • 18 to 25
  • 26 to 35
  • 36 to 45
  • 45 to 55
  • 55+