Gold Price in India Today, Oct 18, Prices Stable During Festive Rush; Check Latest 24K, 22K, 18K Gold & Silver

After multiple days of drops in the gold rate in India in the past few weeks, gold rates have paused the decline and is a relief for buyers who have been waiting to make purchases.

With the festive season in India currently at its peak in the coming weeks, experts believe gold prices are likely to rise again and may break fresh records in the coming days

Jewellers expect a surge in demand as families prepare for occasions like Dussehra, Diwali, and the wedding season, which traditionally boost gold and jewellery sales.

Gold Rate in India Today

As of October 18, Sunday, 24-carat gold rates in India trading at at Rs.1,47,660 per 10 grams.While the 22-carat gold price in India today cost Rs.1,35,350. Similarly, the smaller 18-carat gold now retails at Rs. 1,10,740 per 10 grams.

And just like that, 100 grams of 24-carat gold are now priced at Rs 14,76,600, and the 22-carat gold rates per 100 grams now cost Rs.13,53,500.

Silver prices in India today

Silver rates in India today are stable since the last two days, so 1 kg of white metal costs Rs. 2,33,000. While 100 g of silver retails in India for Rs 23,300.

MCX Gold and Silver Prices

Trading on the MCX is usually closed during the weekend so gold futures prices on the MCX on Friday, which will mature on December 5th, closed at 0.35% at Rs. 1,48,000 per 10 grams. Similarly, silver futures prices maturing on December 4th gained 0.36% to settle at Rs.2,11,418 per Kg.

Spot Gold Price and Spot Silver Rate

According to the latest report from Reuters, "Spot gold was down 0.1% at $4,165.12 per ounce by 02:07 p.m. EDT (1807 GMT) but was down ​0.7% so far in the week."

"Gold and silver rebounded on safe-haven buying and short-covering as the Dollar Index eased from an 18-month high and investors shifted focus to a selloff in AI data center stocks. Markets still price a 28% chance of a Fed hike this month and 89% for December, after US September PPI jumped 6.3% y/y, the strongest in 3.75 years. Middle East tensions, including a container ship sunk in the Strait of Hormuz, added further safe-haven support. Technically, oversold gold could head towards $4200 (~Rs 151,000), so dips are worth buying. Silver needs to hold above $56.30 (~Rs 210,500) to target $58.50." as per Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation

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