Gold Price Today: Gold rates declined across major Indian cities on October 17, offering buyers a fresh look . (Img: Pinterest)
Mumbai: Gold prices declined across major Indian cities on October 17, offering potential relief to buyers planning jewellery purchases. Silver prices also weakened with the precious metal recording a significant weekly decline amid pressure in domestic and international markets.
In Delhi, 24-carat gold was priced at Rs 1,47,580 per 10 grams, while the 22-carat rate stood at Rs 1,35,290. Mumbai and Kolkata recorded a 24-carat price of Rs 1,47,430 and a 22-carat rate of Rs 1,35,140 per 10 grams.
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In Ahmedabad and Bhopal, 24-carat gold was priced at Rs 1,47,480, while 22-carat gold cost Rs 1,35,190 per 10 grams. Chennai and Hyderabad reported rates of Rs 1,47,430 for 24-carat gold and Rs 1,35,140 for 22-carat gold.
Jaipur, Lucknow and Chandigarh recorded prices similar to Delhi, at Rs 1,47,580 for 24-carat gold and Rs 1,35,290 for 22-carat gold.
Gold prices in the spot market fell by approximately Rs 4,500, or around 3%, during the week. International spot gold was quoted at $4,165.12 per ounce, reflecting a weekly decline of about 0.7%.
Movements in the US dollar, global economic conditions, investor demand and currency fluctuations can influence bullion prices. Domestic rates may also vary across cities depending on local market conditions.
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Silver prices also came under pressure. On October 17, silver was quoted at Rs 2,29,900 per kilogram in the domestic market. The metal declined by approximately Rs 13,500, or 6%, over the week. International spot silver stood at $57.05 per ounce.
India's gold imports fell 81.27% year-on-year to $1.8 billion in September, while silver imports declined 49.11% to $665 million.
Between April and September 2026, gold imports dropped 27.32% to $19.27 billion, while silver imports decreased 25.17% to $2.4 billion. Higher import duties were cited as one factor behind the decline.
Buyers should check the latest local rates before purchasing, as jewellery prices may include making charges, applicable taxes and other costs.
