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Gold prices in India increased with 24K gold hitting Rs 12,409. City-wise rates in Delhi, Mumbai, Kolkata, and Lucknow show steady upward movement ahead of peak festive season buying.
Gold prices have increased 3-5% over recent week
New Delhi: Gold prices in India have continued their slow but steady upward trend, with 24K gold now priced at Rs 12,409 per gram, 22K gold at Rs 11,376, and 18K gold at Rs 9,311, each registering a marginal increase of Rs 1 from the previous day.
This marks a significant surge when compared to prices just a few weeks ago, reflecting both global uncertainties and domestic festive buying. With the Indian festive season underway- including Navratri, Durga Puja, and the upcoming Diwali demand for gold jewellery, coins, and investment bars has spiked across urban and rural markets.
Traders attribute the ongoing rise to factors like a weak rupee, global gold price fluctuations, and seasonal demand, suggesting this trend could persist or intensify over the next few weeks.
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In Lucknow, the gold market remains aligned with national trends, with 24K gold priced around Rs 12,409/g and 22K gold at Rs 11,376/g. Local jewellers report a steady flow of buyers, particularly those purchasing for upcoming weddings and religious ceremonies. While price changes have been minimal day to day, festive footfall is keeping demand buoyant.
24K gold priced at Rs 12,409/g.
In Delhi NCR, gold prices are slightly variable but generally mirror national averages. Today, 24K gold is trading at Rs 12,408/g, 22K at Rs 11,201/g, and 18K at Rs 9,168/g. The NCR region acts as a pricing benchmark for much of North India, with local premiums depending on store reputation, hallmark certification, and value-added services.
Mumbai, being close to India’s primary gold import ports, often enjoys lower transportation and handling costs, reflected in slightly competitive pricing. On average, 24K gold is priced near Rs 12,317/g and 22K gold at Rs 11,290/g, according to recent spot prices. Large chain stores and bullion traders dominate sales here, keeping margins tight and volume high.
Kolkata is witnessing high festive demand, especially during Durga Puja season, pushing prices close to Rs 12,317/g for 24K and Rs 11,290/g for 22K gold. The city's strong cultural affinity for gold and increased consumer activity during October are key drivers for these elevated rates.
Gold prices surge in Delhi-NCR ahead of festive season; When to invest, buy
Over the past few weeks, gold prices have risen by approximately 3–5% across major cities. In Delhi alone, 24K gold has increased from ~Rs 11,955/g to Rs 12,408/g, fueled by international cues such as concerns over inflation, geopolitical tensions, and strong central bank buying globally. Domestically, the seasonal surge in demand, combined with a weakening rupee and high import duties, is also impacting pricing.
Experts suggest that if global tensions escalate or the rupee weakens further, we may soon see 24K gold breaching the Rs 12,500/g mark, particularly as Diwali nears.
