Gold Prices Plunge: 24K Gold Falls by Nearly ₹1 Lakh to ₹12,082 in 10 Days — Check City-Wise Rates for Oct 29
After months of record breaking highs, gold prices hit a three week low amid global market volatility and easing trade tensions.
India, Oct 29 : India’s gold rally has finally cooled after a months-long surge, with prices witnessing a sharp fall over the past 10 days. On Tuesday, October 28, 24K gold dropped nearly ₹1 lakh per 100 grams, slipping to ₹12,082 per gram from ₹13,084 on October 18 marking its lowest level in three weeks.
Gold Prices Dip Below ₹12,100 per Gram
According to market data, 22K gold declined by ₹225 to ₹11,075 per gram, while 18K gold eased to ₹9,062 per gram. This comes after a remarkable 60% rally in 2025, fueled by global economic uncertainty, geopolitical tensions, and strong safe-haven demand.
Gold and silver saw a modest recovery on Wednesday ahead of the US Federal Reserve’s anticipated interest rate cut. However, easing US-China trade tensions limited the upside. In Mumbai, 24K gold was priced at ₹1,21,580 per 10 grams, while 22K gold stood at ₹1,11,450 per 10 grams (excluding GST and making charges). Silver traded at ₹1,50,900 per kg.
City-Wise Gold Rates (per 10 grams) — October 29
City 22K Gold 24K Gold
Delhi ₹1,10,890 ₹1,20,960
Jaipur ₹1,10,890 ₹1,20,960
Ahmedabad ₹1,10,790 ₹1,20,860
Pune ₹1,11,450 ₹1,21,580
Mumbai ₹1,11,450 ₹1,21,580
Hyderabad ₹1,11,450 ₹1,21,580
Chennai ₹1,11,450 ₹1,21,580
Bengaluru ₹1,11,450 ₹1,21,580
Kolkata ₹1,11,450 ₹1,21,580
Global Market Update
On the Multi Commodity Exchange (MCX), December 5, 2025, gold contracts rose 0.36% to ₹1,20,073 per 10 grams, while silver gained 0.63% to ₹1,45,248 per kg.
In the international market, spot gold climbed 0.2% to $3,957.42 per ounce after hitting its lowest since October 7, while US gold futures slipped 0.3% to $3,971.20 per ounce.
