Gold Rate India Jumps Twice In 24 Hrs! Silver Follows; What's Next On Oct 9 Before Karwa Chauth? Check Outlook

Gold Rate in India: The price of gold in India surged sharply on Wednesday, October 8, as investors flocked to the precious metal amid rising geopolitical tensions. Factors such as a prolonged US government shutdown, expectations of a US Fed rate cut, and festive season buying have fueled the gold rally in India. Silver prices also continued to climb on Wednesday. With gold on its third consecutive day of gains, investors are now watching closely for the next movement in gold prices on Thursday, October 9.

Meanwhile, gold jewellery buying is likely to remain strong on Thursday due to the upcoming Karwa Chauth festival. Here are all the details about gold rate in India and its outlook.

Gold Rate in India

The price of gold in India witnessed a sharp back-to-back jump on Wednesday driven by safe-haven rally. The price of 24 karat gold in India increased to Rs 12,317 per gram by 12 pm on Wednesday, but later it rallied again to Rs 12,393 per gram, according to GoodReturns' exclusive data.

The sharp surge in prices of gold mirrors the international gold price rally due to geopolitical uncertainty, trade tensions and persistent macroeconomic situation. The US government shutdown, extended for more than a week, has caused delay in the release of key economic datas and sparked concerns among investors.

Silver Rate in India

The price of silver increased on Wednesday. Silver rate in India today increased to Rs 160 per gram and Rs 1,60,000 per kilogram. The surge in silver rate has come against the backdrop of strong industrial demand and attractive valuations against gold.

Gold Price Outlook

The sharp rally in gold rates over the past three days might be followed by some price corrections due to profit booking, noted experts. "Gold prices have surged over 51% this year, mainly driven by a weaker USD, expectations of lower interest rates, strong central bank demand, and geopolitical uncertainty. Sustaining the current momentum will be tricky, especially as we could see some profit taking around the key psychological level at $4,000/oz," stated Ross Maxwell, Global Strategy Lead at VT Markets.

"However, the overall drivers of Gold remain and price could continue higher if the FED commentary turns dovish or geopolitical risks intensify. However, a stronger USD or higher real yields could trigger short-term pullbacks of 5-10%," Maxwell added.

Silver Price Outlook

"Silver's rally seems to be sustainable in the cycle, especially if inflationary pressures globally and industrial usage continue to support silver prices," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures earlier.

"Silver still has room to close in on its theoretical midpoint at $64. Taking some profits off from now (at $47) to close to low end of $53 is advisable. Ancillary exposures like gold miners no longer warrant an overweight and should be reduced to normalized weights or gradually phased out," read DSP Mutual Fund's October 2025 Netra report.