Gold Rate Rises Today, October 16: Check 22 & 24 Carat Prices In Delhi, Mumbai, Pune, Other Cities
Gold prices in India continued their upward trend on Thursday, October 16, 2025, driven by a combination of factors including festive demand, global economic uncertainties, and expectations of US Federal Reserve rate cuts. The surge mirrors a worldwide rally in gold prices, with investors seeking safe-haven assets amid geopolitical tensions and a weaker dollar.
Current Gold Rates in Major Cities
- Delhi NCR: The price of 24-carat gold in Delhi is ₹129,600 per 10 grams, while 22-carat gold is trading at ₹118,810. Some reports indicate 24K gold has crossed ₹129,000/10 grams.
- Mumbai: Gold rates in Mumbai remain standard across the city. The current price for 24-carat gold is ₹127,200 per 10 grams, and 22-carat gold is at ₹116,600.
- Chennai: In Chennai, 24-carat gold is priced at ₹127,240 per 10 grams, and 22-carat gold is at ₹116,650.
- Hyderabad: The price of 24-carat gold in Hyderabad has reached ₹127,230 per 10 grams, with 22-carat gold at ₹116,620.
- Bangalore: Bangalore sees 24-carat gold at ₹127,360 per 10 grams and 22-carat gold at ₹116,740.
- Pune: Today's gold rates in Pune are ₹129,483 per 10 grams for 24-carat gold and ₹118,600 for 22-carat gold. Another source indicates ₹127,200 per 10 grams for 24-carat gold and ₹116,600 per 10 grams for 22-carat gold in Pune.
Factors Fueling the Rally
Several factors are contributing to the current surge in gold prices:
- Global Economic Uncertainty: Investors are increasingly turning to gold as a safe haven asset amidst concerns about the global economy and volatility in stock markets.
- US Federal Reserve Rate Cut Expectations: Anticipation of interest rate cuts by the US Federal Reserve is further bolstering investor confidence.
- Festive Demand: The upcoming Dhanteras and Diwali festivals are driving increased purchasing activity in the Indian market.
- De-dollarization: Central banks are increasing gold purchases, moving away from the US dollar.
- ETF Inflows: Robust inflows into gold-backed exchange-traded funds (ETFs) are contributing to the price increase.
- Geopolitical Risks: Tensions such as US-China trade disputes and the Russia-Ukraine war continue to create uncertainty, driving investors towards gold.
Expert Opinions
Experts suggest that the current momentum in gold prices is likely to continue, driven by strong festive demand and ongoing global uncertainties. Investors are advised to consider gold as a safe haven asset to hedge against inflation and economic volatility.
Global Market Trends
In the global market, spot gold climbed 0.4% to $4,224.79 per ounce, reaching a record high of $4,225.69. U.S. gold futures for December delivery also rose 0.9% to $4,239.70. Silver is also experiencing a surge, with spot silver up 0.2% at $53.16 per ounce.
