On Saturday, October 18, 2025, gold bullion maintained its value following a major loss the previous day. US President Donald Trump suggested that his 100% tariffs on China might be a little excessive, and this caused the market to slightly correct itself. However, the minor decline did not affect the bullish sentiment around the domestic and global markets regarding the metal.
Spot gold was last seen down 2.6% at $4,211.48 per ounce after touching a record high of $4,378.69 earlier in the session. Meanwhile, US gold futures for December delivery settled 2.1% lower at $4,213.30 per ounce.
Dhanteras, which marks the start of Diwali, is being celebrated in India. It is traditionally considered an auspicious day to purchase gold and silver, which are still the preferred investment choices for many consumers. Since weekend trading was closed, prices in major Indian cities reflect the previous trading day’s levels and indicate the strength of festival demand.
Experts believe that the stability in gold and silver prices is influenced by prevailing global market conditions and expectations of a potential Federal Reserve rate cut.
Over the last two decades, gold prices in India increased by almost 1,200%, going from Rs. 7,638 per 10 grams in 2005 to over Rs. 1,00,000 in 2025. This phenomenal rise has made gold one of the most consistent performers that offers steady gains with positive returns in 16 of the last 20 years.
Silver has followed suit, rising 668.84% between 2005 and 2025. Prices have remained above Rs. 1 lakh per kilogram for several months, reflecting robust industrial and investment demand.
According to the Multi Commodity Exchange (MCX) and the Indian Bullion Association (IBA), the latest rates as of 8 a.m. on October 18 are as follows:
MCX Gold (10 gm): Rs. 1,27,320
MCX Silver (1 kg): Rs. 1,57,300
24 Carat Gold Rate: Rs. 1,27,320 per 10 gm
22 Carat Gold Rate: Rs. 1,16,710 per 10 gm
Mumbai
Gold (24K): Rs. 1,27,320/10 gm
Silver: Rs. 1,57,300/kg
Delhi
Gold (24K): Rs. 1,27,100/10 gm
Silver: Rs. 1,57,030/kg
Kolkata
Gold (24K): Rs. 1,27,150/10 gm
Silver: Rs. 1,57,090/kg
Bengaluru
Gold (24K): Rs. 1,27,420/10 gm
Silver: Rs. 1,57,420/kg
Hyderabad
Gold (24K): Rs. 1,27,520/10 gm
Silver: Rs. 1,57,550/kg
Chennai
Gold (24K): Rs. 1,27,690/10 gm
Silver: Rs. 1,57,760/kg
Note: Variations in prices may occur among different jewelry shops due to additional manufacturing charges, taxes, and GST.
Also Read: Gold vs Stocks: Which Should You Choose This Diwali?
Analysts believe that the strength of MCX Gold depends on several factors, such as:
Anticipation of a reduction in the Federal Reserve rate in the near future.
Ongoing geopolitical tensions and trade risks.
Investors are turning to gold for safety amid stock market turbulence.
High purchase rate from Indian consumers during the festivals.
Gold’s mid- to long-term horizon remains bright, but analysts warn of a possible drawback if prices rise too high. Commodity analysts suggest that investors should go for the dip method of buying, as a slow price rise is likely before the new breakout.