Gold Rate Today in India, Check 22K, 24K Gold Price in India on October 25, 2024: The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 78,340 per 10 gm
As the festive season approaches with Diwali and Dhanteras, gold and silver prices are reaching new highs. The price of 24-carat gold is nearing the Rs 80,000 per 10 gm mark, driven by the usual surge in demand during this time. Gold purchases around the festive season are common, both for investment purposes and as gifts for loved ones.
Week-on-week, gold prices have shown significant fluctuations, influenced by rising geopolitical tensions and festive demand. Known as a safe-haven investment, gold is often sought after in uncertain times, offering assurance and stability to investors.
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Gold to maintain upwards momentum
Gold prices have surged nearly 37% over the past year, driven by fluctuating currency rates and ongoing geopolitical instability. This substantial increase, compared to October last year, highlights gold’s enduring appeal as a safe-haven investment during times of uncertainty.
A two-year analysis reveals even more dramatic growth, with gold prices soaring by 64% since October 2022. This sharp rise underscores the strong influence of global factors—ranging from economic concerns to geopolitical tensions—on the metal’s demand. As currency volatility and external pressures continue, gold remains a key asset for investors seeking stability.
Experts on Gold Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold prices maintained a positive stance as the dollar remained muted near 104.4. After witnessing some selling pressure yesterday, which saw prices drop to Rs 77,600, gold quickly rebounded to Rs 78,350, posting a gain of Rs 500 from yesterday’s lows. This recovery highlights the strong underlying sentiment for gold, which continues to benefit from the broader macroeconomic environment, particularly as the U.S. dollar stabilizes.
Trivedi also added that one of the key data points that the market will focus on this week is the Initial Jobless Claims on Thursday, which are expected to come in at 243K, slightly higher than the previous 241K. If the claims come in lower than expected, signaling continued economic strength in the U.S., this could pressure gold prices as it would suggest a resilient economy that might slow down the pace of interest rate cuts. Such a scenario could lead to a minor retracement in gold prices, with support levels at Rs 77,000 – Rs 77,500 being crucial remains bullish.
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Why is gold a safe haven investment?
Gold is widely seen as a safe-haven investment, offering protection against monetary expansion and helping maintain currency value. As central banks increase the money supply, gold serves as a hedge against potential currency devaluation, making it a reliable asset in uncertain economic conditions.
Its resilience against inflation further boosts its appeal. As the cost of living rises, gold’s value often increases, shielding investors from the effects of inflation. During economic downturns, gold typically outperforms other assets, helping safeguard portfolios from devaluation and providing a buffer against financial instability.
Gold and silver rates today, October 25
The 24-carat gold rate in India was Rs 78,380 per 10 grams on October 25. The rate for 24-carat gold per gram is Rs 7,838. The rate of 22-carat gold was Rs 71,848 per 10 grams.
The rate of 24-carat gold has risen by 1.64% in the last one week, and the yellow metal has gained by 2.63% in the last ten days. The silver is currently quoted at Rs 97,220 per kilogram.
Gold rate in Mumbai on October 25
The glittering metal was quoted for a price of Rs 78,380/10 grams in Mumbai on October 25. On October 24, the price of gold was Rs 77,910/10 grams. Seven days back, on October 18, gold was trading for Rs 77,760/10 grams.
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Silver rate in Mumbai on October 25
The shining metal silver was selling for a rate of Rs 97,050/Kg on October 25 in Mumbai. Whereas on October 24, the metal was priced at Rs 97,100/Kg and a week ago the price was Rs 95,480/Kg.
Gold rate in Kolkata on October 25
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 78,280/10 grams, today, October 25. The glittering metal was selling for Rs 77,800/10 grams on October 24 and was quoting for Rs 77,650/10 grams last week.
Silver rate in Kolkata on October 25
The silver rate in Kolkata today was Rs 96,920/Kg. The price of silver was Rs 96,970/Kg on October 24. Last week, the price was trading at Rs 95,350/Kg.
Gold rate in Delhi on October 25
Diwali is just a few days away and people in North India prefer shopping for jewellery and ornaments during winter festivities. On October 25, the gold was trading at a price of Rs 78,250/10 grams.
The gold was quoted at Rs 77,770/10 grams on Thursday, October 24. While the price of the 999 gold was selling for a price of Rs 77,620/10 grams a week ago.
Silver rate in Delhi on October 25
In Delhi, the silver was priced at Rs 96,880/Kg on October 25. The price of silver was Rs 96,930/Kg on October 24. The price of silver was quoted at Rs 95,310/Kg last week.
Gold rate in Chennai on October 25
The gold rate in Chennai was Rs 78,610/10 grams today, October 25. On Thursday 24-10-2024 the gold rate was quoted at Rs 78,810/10 grams. On October 18 or a week ago, the price of gold was Rs 77,980/10 grams in Chennai.
Silver rate in Chennai on October 25
The silver rate in Chennai today, October 25, is Rs 97,330/Kg. On October 24, the price of silver at Rs 97,380/Kg. The silver in Chennai was available to the customers for a price of Rs 95,760/Kg a week ago.
MCX Futures on October 25
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 78,340 per 10 gm, an increase of Rs 548. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 96,995 per kg, gain of Rs 35.
Gold Rate Today on October 25, 2024: The rate of 24-carat gold has risen by 1.64% in the last one week, and the yellow metal has gained by 2.63% in the last ten days. (Photo: Freepik)
