Gold has always been a trusted investment for Indians — whether it’s for weddings, festivals, or long-term savings. As global markets shift and investors await key economic announcements, gold prices in India continue to fluctuate. Today’s gold rate reflects these changes as investors keep an eye on the US Federal Reserve’s monetary policy update and its impact on international gold markets.
Let’s take a detailed look at today’s gold prices across major Indian cities, along with the key factors driving these changes.
Global Market Overview: Why Gold Prices Are Falling
On Wednesday, gold prices extended their decline for the fourth consecutive session, mirroring trends in global markets. The primary reason for this downward movement is investor caution ahead of the US Federal Reserve’s policy announcement scheduled later today.
On the Multi Commodity Exchange (MCX), gold futures for December delivery fell by ₹176, or 0.15%, to ₹1,19,470 per 10 grams. Similarly, on the international Comex market, gold futures for December dropped by $15.9 (0.4%), trading at around $3,967.2 per ounce.
According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, gold prices are likely to remain under pressure as “the market anticipates a potential rate cut by the Federal Reserve, which could influence the dollar’s strength and investor sentiment.”
Gold Rate in India Today (October 29, 2025)
Gold prices vary slightly from city to city due to local taxes, transportation costs, and making charges. Below are the latest gold rates for both 24K (pure gold) and 22K (ornamental gold) across major Indian cities:
| City | 22K Gold Price (per gram) | 24K Gold Price (per gram) |
|---|---|---|
| Delhi | ₹11,160 | ₹12,173 |
| Mumbai | ₹11,145 | ₹12,158 |
| Bengaluru | ₹11,145 | ₹12,158 |
| Chennai | ₹11,210 | ₹12,220 |
| Kolkata | ₹11,145 | ₹12,158 |
| Hyderabad | ₹11,145 | ₹12,158 |
| Ahmedabad | ₹11,150 | ₹12,163 |
| Jaipur | ₹11,160 | ₹12,173 |
| Bhubaneswar | ₹11,145 | ₹12,158 |
| Kanpur | ₹11,160 | ₹12,173 |
(Note: Prices may vary slightly depending on local jewellers and daily market trends.)
City-Wise Analysis: Gold Prices Across India
1. Delhi
In the national capital, 24K gold is priced at ₹12,173 per gram, while 22K gold stands at ₹11,160 per gram. Delhi’s prices are among the highest due to strong festive demand and import costs.
2. Mumbai
In Mumbai, the financial hub of India, gold rates are slightly lower — ₹12,158 for 24K and ₹11,145 for 22K gold. The city’s large bullion market often reflects the most stable and competitive prices in India.
3. Bengaluru
Gold prices in Bengaluru remain steady at ₹12,158 (24K) and ₹11,145 (22K). The demand for gold jewellery in the city remains robust ahead of Diwali and wedding season.
4. Chennai
Chennai continues to see strong gold buying due to cultural and festive factors. 24K gold costs ₹12,220 per gram, while 22K gold is priced at ₹11,210 per gram.
5. Kolkata & Hyderabad
Both cities share similar rates: ₹12,158 for 24K and ₹11,145 for 22K gold. The stable pricing indicates uniformity in bullion supply and trading across southern and eastern regions.
Why Are Gold Prices Declining?
Gold’s recent decline can be attributed to multiple global and domestic factors:
- US Federal Reserve’s Rate Policy:
Investors are waiting for clarity on whether the Fed will cut interest rates. A stronger dollar typically pushes gold prices lower, as gold becomes more expensive for buyers using other currencies. - Global Market Sentiment:
Caution in global financial markets has led investors to move toward safer assets like bonds, temporarily reducing demand for gold. - Reduced Buying Ahead of Diwali:
Although festive demand remains high, some buyers are holding back purchases, anticipating a further dip in gold prices before the festival season peaks. - Rupee Fluctuation:
The rupee’s strength against the US dollar also affects domestic gold prices. A stronger rupee reduces import costs, leading to slightly cheaper gold.
Investment Outlook: Should You Buy Gold Now?
Even with short-term price drops, gold remains a safe-haven investment and a hedge against inflation. Market analysts suggest that the current dip could be an opportunity for long-term investors to buy.
According to market experts:
- If the Federal Reserve cuts rates, gold prices may rise again as the dollar weakens.
- If the Fed maintains current rates, gold may stay steady or see a slight correction.
For small investors, systematic gold investment options such as Sovereign Gold Bonds (SGBs), Gold ETFs, or Digital Gold can help average out purchase costs over time.
Tips for Gold Buyers
- Check Purity: Always ensure the gold you buy is BIS-hallmarked (Bureau of Indian Standards).
- Compare Prices: Gold rates differ across jewellers and cities — compare before purchasing.
- Keep an Eye on MCX Trends: The MCX gold rate gives a good indication of short-term market movement.
- Buy During Dips: When prices drop due to market corrections, it’s a good time to buy for long-term value.
- Avoid Panic Selling: Short-term fluctuations are normal — gold generally maintains its value over the years.
Conclusion
Today’s gold prices show a continued decline due to global market uncertainty and investor caution before the US Federal Reserve’s policy meeting. Despite this, the long-term outlook for gold remains strong, supported by festive demand, inflation trends, and safe-haven appeal.
Whether you are an investor or a jewellery buyer, it’s essential to track daily gold rates and understand market trends to make informed decisions.
Stay tuned for daily updates on gold, silver, and commodity prices on our website.