After two weeks of correction, gold prices in India have staged a robust rebound, tracking gains in global bullion markets as investors positioned themselves
ahead of the US Federal Reserve’s latest policy outcome. On Wednesday, 24-karat gold surged by Rs 158 per gram to Rs 12,240, while 22-karat gold climbed by Rs 145 to Rs 11,220 per gram. The 18-karat segment also saw a sharp rise of Rs 118 per gram, taking prices to Rs 9,180. The rebound comes after a brief consolidation phase in late October that followed a stellar rally through August and September, when domestic gold prices touched record highs. Analysts attribute the uptick to renewed safe-haven demand amid global uncertainty and a potential dovish stance from the US Fed. “Despite the recent pullback, gold’s long-term fundamentals remain strong,” said Ross Maxwell, Global Strategy Lead at VT Markets. “The metal continues to act as a hedge against inflation and market volatility, retaining its status as a core portfolio asset for wealth preservation.” On the Multi Commodity Exchange (MCX), December gold futures settled higher at Rs 1,21,460 per 10 grams, while silver futures closed at Rs 1,44,342 per kilogram. Spot silver in India also saw a strong move, trading around Rs 152 per gram or Rs 1.52 lakh per kilogram, supported by supply constraints and resilient industrial demand. “In essence, while short-run volatility might persist post-Fed decision, long-term investors could view this as an accumulation opportunity,” Maxwell added. Gold Rates Across Major Indian Cities (October 30, 2025)
- Chennai: 24K – Rs1,235.6 | 22K – Rs1,132.6 | 18K – Rs945.1
- Mumbai: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Delhi: 24K – Rs1,225.6 | 22K – Rs1,123.6 | 18K – Rs919.6
- Kolkata: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Bangalore: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Hyderabad: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Kerala: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Pune: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Vadodara: 24K – Rs1,224.6 | 22K – Rs1,122.6 | 18K – Rs918.6
- Ahmedabad: 24K – Rs1,224.6 | 22K – Rs1,122.6 | 18K – Rs918.6
- Jaipur: 24K – Rs1,225.6 | 22K – Rs1,123.6 | 18K – Rs919.6
- Lucknow: 24K – Rs1,225.6 | 22K – Rs1,123.6 | 18K – Rs919.6
- Coimbatore: 24K – Rs1,235.6 | 22K – Rs1,132.6 | 18K – Rs945.1
- Madurai: 24K – Rs1,235.6 | 22K – Rs1,132.6 | 18K – Rs945.1
- Vijayawada: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Patna: 24K – Rs1,224.6 | 22K – Rs1,122.6 | 18K – Rs918.6
- Nagpur: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Chandigarh: 24K – Rs1,225.6 | 22K – Rs1,123.6 | 18K – Rs919.6
- Surat: 24K – Rs1,224.6 | 22K – Rs1,122.6 | 18K – Rs918.6
- Bhubaneswar: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Mangalore: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Visakhapatnam: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Nashik: 24K – Rs1,224.4 | 22K – Rs1,122.4 | 18K – Rs918.4
- Mysore: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Salem: 24K – Rs1,235.6 | 22K – Rs1,132.6 | 18K – Rs945.1
- Rajkot: 24K – Rs1,224.6 | 22K – Rs1,122.6 | 18K – Rs918.6
- Trichy: 24K – Rs1,235.6 | 22K – Rs1,132.6 | 18K – Rs945.1
- Ayodhya: 24K – Rs1,225.6 | 22K – Rs1,123.6 | 18K – Rs919.6
- Cuttack: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – Rs918.1
- Davanagere: 24K – Rs1,224.1 | 22K – Rs1,122.1 | 18K – N/A
Market Outlook: Cautious Optimism Ahead
Analysts say gold prices could remain volatile in the near term, reflecting the Fed’s tone on rate cuts and inflation expectations. A softer US dollar and sustained central bank buying could further support prices through Q4 2025.
Domestic traders are watching closely whether this rebound turns into another leg of the rally that pushed gold up nearly 50% year-to-date. With festive demand still strong and wedding season approaching, physical gold buying is expected to lend additional support to prices.
Silver, too, remains on investors’ radar as industrial use expands — particularly in renewable energy and electronics — tightening the global supply-demand balance.
As India heads into the year-end festive stretch, bullion dealers expect both metals to stay in focus, with 24K gold likely to test fresh highs if global cues remain favourable.
