Gold prices in India have rallied to higher highs, reaching new price levels in the face of global uncertainties, festive season purchasing, and a depreciating rupee. Check out the rates of gold in the Indian metro cities today. The gold rates on MCX today is ₹1,27,220.
Delhi NCR witnesses one of the top gold prices today, with 24K gold at ₹1,30,540 per 10 grams and 22K gold at ₹1,16,790. With Delhi being one of India's bullion trade centers, retail turnover here continues to be brisk. Experts feel that wedding and Dhanteras-driven gold buying will maintain this pace till month-end despite record levels.
Gold prices in Chennai have been on the top, with 24K gold trading at ₹1,27,240 per 10 grams and 22K gold at ₹1,16,650. Increased wholesale demand from local jewellers and rising international gold futures are driving premium pricing in Tamil Nadu. Experts attribute Chennai’s surge to strong pre-Diwali retail orders and constrained supply in bullion markets.
Bangalore witnesses 24K gold at about ₹1,27,360 for 10 grams and 22K gold at ₹1,16,740. Following global spot gold trends, domestic traders believe that the momentum will be sustained during the festive week. Karnataka's investment-based buying behaviour and high consumer involvement are driving these record levels.
In Hyderabad, 24-karat gold reaches ₹1,27,230 per 10 grams, while 22-karat gold recorded ₹1,16,620. Hyderabad continues to mirror Chennai’s market behaviour, with increased jewellery manufacturing orders and steady urban demand fuelling higher rates. Retailers have indicated that festive-season bookings are at a two-year high despite elevated prices.
Mumbai bullion market followed the national trend with 24K gold being available at ₹1,27,380 per 10 grams and 22K at ₹1,16,700. The premium pricing in the city is indicative of import-based costs and strong institutional buying. Traders explained that the rally in gold is the biggest since 1979, supported by US Treasury yields declining and central banks purchasing.
Weak rupee, increasing geopolitical tensions, international inflation pressures, and gold stacking by the central banks are the main drivers of these all-time highs, analysts point out. Choice Broking and Bajaj Finserv experts forecast that gold may test ₹1.30–₹1.33 lakh per 10 grams around Diwali, provided the prevailing macroeconomic environment continues.
Short-term adjustments could be seen after the festival demand, but with bond yields weakening and safe-haven purchases accelerating, gold's short-term perspective remains bullish for investors as well as jewellers.
