After declining earlier this week, gold prices in India edged up on Wednesday, October 29, supported by a mild recovery in international markets. The uptick follows a period of volatility as global cues, including easing US-China tensions, continue to influence bullion sentiment.
Domestic Gold Prices
As per data from Goodreturns, 24-carat gold is priced at ₹12,158 per gram, up ₹76 from yesterday’s ₹12,082.
Similarly, 22-carat gold is up ₹70, reaching ₹11,145 per gram, while 18-carat gold rose ₹57 to ₹9,119 per gram.
| Gold Type | Today’s Price (₹/g) | Change (₹) | Yesterday’s Price (₹/g) |
|---|---|---|---|
| 24K Gold | ₹12,158 | +₹76 | ₹12,082 |
| 22K Gold | ₹11,145 | +₹70 | ₹11,075 |
| 18K Gold | ₹9,119 | +₹57 | ₹9,062 |
City-wise Gold Rates (1 gram)
Gold rates vary slightly across cities due to local taxes and market demand.
| City | 24K Today | 22K Today | 18K Today |
|---|---|---|---|
| Chennai | ₹12,229 | ₹11,210 | ₹9,350 |
| Mumbai | ₹12,158 | ₹11,145 | ₹9,119 |
| Delhi | ₹12,173 | ₹11,160 | ₹9,134 |
| Kolkata | ₹12,158 | ₹11,145 | ₹9,119 |
| Bangalore | ₹12,158 | ₹11,145 | ₹9,119 |
| Hyderabad | ₹12,158 | ₹11,145 | ₹9,119 |
| Kerala | ₹12,158 | ₹11,145 | ₹9,119 |
| Ahmedabad | ₹12,163 | ₹11,150 | ₹9,124 |
Global Gold Market Trends
In the international market, spot gold edged up 0.2% to $3,957.42 per ounce, recovering slightly after Tuesday’s decline to its lowest level since early October.
Meanwhile, US gold futures for December delivery fell 0.3% to $3,971.20 an ounce.
Analysts said optimism over a potential US-China trade truce is reducing safe-haven buying, though prices remain supported by central bank demand and ongoing inflationary pressures.
“Gold dipped earlier due to diminishing safe-haven demand but remains well-supported near current levels,” said Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities.
Outlook
Gold prices are expected to trade in a narrow range in the near term, influenced by global economic signals, central bank policies, and US dollar trends. Retail buyers may find current levels favorable ahead of the festive and wedding season.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Commodity market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
