Gold Prices Surge Across India: Check Latest Rates for 22-Carat & 24-Carat Gold in Delhi, Mumbai, and Other Cities

New Delhi The festive season is here, and while this time of year typically brings joy and celebration, it’s also bringing gold price hikes that are causing widespread concern. As gold and silver prices surge across India, buyers are feeling the pinch, especially with Dhanteras and wedding season just around the corner. In the last 24 hours alone, the price of 24-carat gold increased by Rs 710, while 22-carat gold rose by Rs 200, underscoring a trend that’s been worrying consumers nationwide.

For Indian families, gold isn’t just a purchase; it’s a tradition, an investment, and a symbol of prosperity. Yet, with prices climbing day by day, many are wondering just how much higher they’ll go.

Current Gold Prices (per 10 grams) in Major Cities October 27, 2024

As of today, 24-carat gold (pure gold) and 22-carat gold (alloyed gold, often used for jewelry) are priced significantly higher in key Indian cities:

• Delhi
  • 24 Carats: ₹80,440
  • 22 Carats: ₹73,760
• Mumbai & Kolkata
  • 24 Carats: ₹80,290
  • 22 Carats: ₹73,600
• Noida, Ghaziabad, Agra, Ayodhya, Kanpur, Mathura
  • 24 Carats: ₹80,440
  • 22 Carats: ₹73,750
• Ahmedabad
  • 24 Carats: ₹80,340
  • 22 Carats: ₹73,650

Why Are Gold Prices Rising?

As experts suggest, the spike in gold prices is largely driven by increased demand during the festival season, especially as Dhanteras approaches—a time when buying gold is seen as auspicious. This demand is expected to push prices even higher, particularly as wedding season begins in India, where gold and silver play an essential role in cultural and familial ceremonies.

Global economic factors also contribute to the price surge. Uncertainties in international markets have made gold a safe haven for investors, leading to increased global demand that impacts prices here at home.

Gold Prices: An Emotional Impact on Families

For many families, rising gold prices present an emotional challenge. With weddings on the horizon and festivals in full swing, gold is more than a metal; it’s a cherished part of family traditions, passed down across generations. Yet, as prices rise, the cost of fulfilling these traditions grows heavier on the heart and the wallet. For families saving for months—or even years—the recent surge has left them feeling uncertain and anxious about the future.

A Word to the Buyers

If you’re planning to buy gold soon, checking the rates in your city has never been more crucial. Prices fluctuate daily, and a timely purchase could help you avoid further increases. Stay updated, compare prices across cities, and consult with local jewelers to secure the best rate.

The Future of Gold Prices

As demand continues to rise, particularly for the upcoming celebrations, many experts predict that gold prices may climb even further. While this surge benefits those who hold gold as an investment, it creates challenges for countless families preparing for festivals and weddings.

For now, this Diwali season brings a complex mixture of excitement and concern as Indians everywhere weigh the emotional and financial significance of each gram of gold.