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The yellow metal continues to dazzle, yet jewellers report slower sales. Is gold’s sparkle hiding a hidden warning about market uncertainty? Read thr article given below to know carat-wise gold rate and the right time to invest.
24-karat gold in Delhi stands at Rs 13,083 per gram.
New Delhi: Gold continues to glitter in the national capital, with prices touching new highs even as buyers weigh their next move. On October 21, the price of 24-karat gold in Delhi stands at Rs 13,083 per gram, while 22-karat and 18-karat are priced at Rs 11,994 and Rs 9,816 respectively.
The precious metal’s rise reflects not just festive sentiment but also the deep undercurrent of global uncertainty shaping India’s bullion market.
Behind these elevated prices lies a complex mix of global and domestic factors. Central banks around the world including the Reserve Bank of India have been steadily increasing their gold reserves, driving up overall demand.
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The RBI’s gold holdings recently crossed the $100 billion mark, a milestone that highlights how gold is once again being viewed as a reliable hedge against market volatility and inflation.
The weakening of the US dollar, geopolitical tensions in West Asia and Eastern Europe, and continued speculation over interest-rate cuts by major economies have further pushed investors toward safe-haven assets. Gold, traditionally the go-to refuge in uncertain times, has therefore maintained its upward trajectory.
However, even as gold glows on the charts, jewellers in Delhi are reporting quieter showrooms. With the festive season underway and Dhanteras just days away one might expect brisk buying.
Instead, sales volumes have reportedly fallen by nearly 25 % compared with last year’s Dussehra period, as consumers hesitate to buy at record-high prices.
For middle-class families, gold jewellery is more than ornamentation; it is both tradition and investment. Yet at over Rs 13,000 per gram for 24-karat gold, the festive purchase is becoming a financial stretch. Many buyers are either downsizing purchases or shifting to lower-karat options and lightweight designs.
Delhi’s bullion rates are among the highest in the country, owing to local taxes, import duties, and making charges that can add 10-12 % to the headline price. Neighbouring cities such as Jaipur and Lucknow have slightly lower rates, but the overall trend remains firm. Retailers say that while bulk investors continue to buy coins and bars for portfolio diversification, casual and wedding-related purchases have slowed noticeably.
Jewellers are also keeping an eye on the rupee’s movement against the dollar, since import costs directly affect retail pricing. Any appreciation in the rupee could provide brief respite to buyers, but for now, that relief remains elusive.
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Interestingly, RBI Governor Shaktikanta Das recently described gold as the “new barometer of global uncertainty”, replacing crude oil’s traditional role in signalling financial stress. His comment captures the mood of the moment when economic anxiety, political risk, and market volatility converge, gold prices tell a story louder than statistics.
For now, gold remains the ultimate paradox- a symbol of prosperity that also reflects fear. As Delhi’s price hovers above Rs 13,000 per gram, buyers are rethinking the balance between cultural tradition and economic prudence.
Whether the upcoming Diwali season reignites demand or deepens the caution will decide if gold’s current shine is a festive sparkle or the glow of a market running too hot to touch.
