Gold and silver rates are at mixed trends today on Tuesday, 21st October 2025, as investors come back to the markets after celebrating light-fest of Diwali. The prices of gold record small gains whereas silver traded with volatility due to festive season demand and international market sentiments.
Today on 21st October, 2025, 24-carat gold is being quoted at ₹1,30,590 for every 10 grams on the Multi Commodity Exchange (MCX), up by ₹717 or 0.55% from the closing price of the previous day at ₹1,29,873. The yellow metal has shown good bullish strength, rising by almost ₹2,553 on 20th October due to post-Diwali value buying.
City-specific rates for gold show minute differences depending on local tax and demand-supply patterns. For Delhi, 24-carat is available for ₹1,30,970 per 10 grams and 22-carat for ₹1,11,940 per 10 grams. Mumbai and Pune had 24-carat for ₹1,30,820 per 10 grams and 22-carat for ₹1,19,790 per 10 grams.
Southern cities reflect competitive rates with Chennai and Hyderabad offering 24-carat gold for ₹1,30,040 per 10 grams and 22-carat for ₹1,19,204 per 10 grams. Bengaluru reflected marginally higher prices with 24-carat gold at ₹1,30,860 per 10 grams and 22-carat at ₹1,19,790 per 10 grams.
Silver prices exhibit strong performance, with MCX December silver futures at ₹1,58,175 per kilogram, up by ₹1,571 or 1.00%. The white metal even hit an intraday high of ₹1,59,875 before the prices settled at current levels.
Based on existing market information, Bengaluru silver is at about ₹1,67,350 per kilogram. Mumbai, Delhi, and Chennai record silver prices at ₹1,67,335 per kilogram. Hyderabad witnesses silver prices at ₹1,90,000 per kilogram according to local market estimates, in accordance with variations in regional demand.
Market analysts are positive about the direction of gold despite short-term consolidation. Abhilash Koikkara, Nuvama Professional Clients Group's Head - Forex & Commodities, opined that MCX gold prices are showing robust bullish strength around ₹1,27,000 levels. "Gold is repeatedly making higher lows, which is a hallmark of strength. Traders can look to accumulate positions near the ₹1,26,000 support levels with possible upside towards ₹1,30,000 levels," he suggested.
On silver's outlook, Koikkara stated that "silver has outperformed gold in recent sessions and reflects robust bullish sentiment driven by industrial demand and investment interest". Nirmal Bang analysts advised buying gold at ₹1,25,500 with a stop loss of ₹1,24,500 for targets of ₹1,27,000-₹1,28,000 and suggested silver buys at ₹1,53,000 with stop loss at ₹1,51,000 with targets of ₹1,57,000-₹1,60,000.
But Motilal Oswal Financial Services estimates silver to hit ₹2.4-2.46 lakh per kilogram by 2026-27, an about 30% appreciation from current levels, spurred by solar energy, electric vehicles, and electronics industry demand. The brokerage noted that "unlike speculative spikes of the past, this rally is grounded in real-world industrial demand".
Geopolitical tensions, inflationary fears, and an unfriendly global economic outlook continue to push gold's safe-haven narrative. The dollar and Federal Reserve monetary policy actions continue to be key drivers of precious metal prices. Silver market supply tightness, especially India's 42% decline in imports, has imparted considerable upward pressure on prices in spite of recent corrections.
The Muhurat trading session of the day, fixed between 1:30 PM and 3:30 PM on NSE and BSE today, might give more direction to bullion markets as investors look for favourable investment opportunities.
