Gold and silver 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. Gold and silver prices in India shoot up sharply today on Friday, October 17, 2025, setting another record high before Dhanteras. The rally was fuelled by the increase in international bullion markets and strong domestic demand during festivals. The gold rates on MCX today is ₹1,31,2354 per 10 gms and silver rates today is ₹1,90,000 per kg.
Check out the rates of gold and silver in the Indian metro cities today:
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 centres, 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.
Silver tracks gold's path, with the white metal currently at ₹1,88,900 per kg in Delhi, which rose steeply by ₹10,000 over the last three days. Demand for silver coins and bars has been extremely high in view of the wedding and festival season, which has made it shine domestically.
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. Silver continues to be around similar trend in Chennai and stays around ₹2,05,900 per kg.
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. Silver follows this trend of gold and the rates have been around ₹1,88,000 per kg in the city.
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. Silver prices have also spike up to be at ₹1,89,000 per kg.
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. Silver prices have been on the rally as well, at ₹1,90,000 per kg.
Experts have a primarily bullish view of gold and silver in the short term. Commodities strategist Amit Goyal stated that, "The market is witnessing a speculative rally on account of geopolitical tension and festive buying. But there could be a short-term correction after Dhanteras." He further mentioned that gold should stabilise at ₹1,27,000–₹1,28,000 per 10 grams after Diwali. Market observers say buying on dips may be a smart strategy. Technical analysts on MCX in a report predict gold will stay above ₹1,25,000 and silver around ₹1,85,000 per kg in the next week.
Both silver and gold are still desirable in the face of international uncertainty, inflation at high levels, and holiday demand. Precious metals are being hedged against market volatility by investors, and until international tensions subside, gold's upward momentum can persist during the last quarter of 2025.
