Gold Rates In India Rally After Big Crash; Check 24K, 22K, 18K Gold Prices On Oct-29; Fed Policy Eyed

Gold rates in India jumped significantly on October 29, after witnessing 2 consecutive days of decline. On Wednesday, the 10 grams gold price moved above Rs 121,500 in 24 carat, and rates were near Rs 111,500 in 22 carat and Rs 91,200 in 18 carat. Gold prices rally comes ahead of US Fed policy outcomes where the market has factored in a rate cut. Silver rates also saw a healthy jump across grams. Apart from the Fed rates decision, the winter wedding season is also expected to stir demand for precious metals.

Gold Rates In India:

24 Carat Gold Prices:

10 grams gold surged by Rs 760 to Rs 1,21,580 on October 29, while 100 grams gold rate climb by Rs 7,600 to Rs 12,15,800. Further, 8 grams gold soared by Rs 608 to Rs 97,264 and 1 gram is up by Rs 76 to Rs 12,158.

22 Carat Gold Prices:

Here, 10 grams gold rallied by Rs 700 to Rs 1,11,450, and 100 grams gold surged by Rs 7,000 to Rs 11,14,500. Additionally, 8 grams gold rose by Rs 560 to Rs 89,160 and 1 gram gold edged higher by Rs 70 to Rs 11,145.

18 Carat Gold Prices:

Under 18 carat, 10 grams gold advanced by Rs 570 to Rs 91,190 and 100 grams gold rose by Rs 5,700 to Rs 9,11,900. Moreover, 8 grams gold edged higher by Rs 456 to Rs 72,952 and 1 gram is up by Rs 57 to Rs 9,119.

Silver Rates In India:

Just like gold, silver prices also surged on October 29. 1Kg silver rate climbed by R 1,000 to Rs 1,52,000, while 100 grams and 10 grams gold is up by Rs 100 and Rs 10 to Rs 15,200 and Rs 1,520. Also, 8 grams and 1 gram silver prices stood at Rs 1,216 and Rs 152, which were up by Rs 8 and Re 1.

" The recovery was supported by short covering, corrective buying, and a softer dollar index, as U.S. 10-year bond yields slipped below 4%. The Fed monetary policy meeting is started on Tuesday and conclude later today and as per market expectations the U.S. Fed could cut interest rates by 25 basis points to boost U.S. job markets. Fed rate cut hopes supported gold and silver prices at lower levels," said Rahul Kalantri, VP Commodities, Mehta Equities.

Gold & Silver Prices Outlook

Looking ahead, Kalantri said, '' Gold has support at $3915-3880 while resistance at $3995-4040. Silver has support at $46.50-45.95 while resistance is at $47.65-48.10. In INR gold has support at Rs1,19,070-1,18,480 while resistance at Rs1,20,450-1,21,100. Silver has support at Rs1,42,950-1,41,750 while resistance at Rs1,45,240, 1,46,180.''

Should You Invest In Gold & Silver Ahead Of Wedding Season?

For gold, Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) said, ''Investment-wise, this change indicates that although gold is still a good portfolio hedge, the short-term trend is one of decline, and that investors should not try to catch up with recent highs. As global projections are revised downward, we view the current phase as more of a consolidation than a new climb.''

In case silver, Kamboj added, ''While industrial demand is firm, the recent drop highlights that silver is not insulated from general sentiment trends, and the investment case now tilts toward selective building up versus widespread buying. From a price point of view, the decline implies a reassessment of expectations and investors can look at the current level as a possible entry point and not as an instant momentum trade.''

MCX Gold Price + MCX Silver Price

At the time of writing, MCX gold price with December 2025 expiry, traded at Rs 1,19,510 per 10 grams, slightly down by Rs 136 or 0.11%. The bullion ranged from Rs 1,19,351 to Rs 1,20,104 per 10 grams respectively.

On the other hand, MCX silver price with December 2025 expiry, performed at Rs 1,44,955 per 1kg, up by Rs 613 or 0.42%. Silver ranged from Rs 1,44,618 to Rs 1,45,376 per 1kg.