Gold and Silver Prices: Gold Crosses ₹1.5 Lakh; Silver Also Strains Budgets—Will Prices Rise Further After Dussehra?

Gold and Silver Prices Today, October 20: In Delhi, the price of gold has risen by ₹400 to reach ₹150,300 per 10 grams, while silver remains steady at ₹215,000 per kilogram. Find out here what the price trend is expected to be leading up to Diwali.

Today is a significant day for those tracking gold and silver prices. In the bullion market, gold has seen an increase of ₹400 per 10 grams, while the price of silver has remained unchanged. This surge in gold prices comes amid rising demand during the festive season.

All eyes are now on whether gold and silver will become even more expensive after Dussehra, or if prices will stabilize. You can check the current rates for gold and silver for today, October 20, below.

What is the price of silver today?

In the Delhi bullion market, the price of 99.9% pure gold has increased by ₹400, reaching ₹150,300 per 10 grams. In the previous trading session, gold was priced at ₹149,900 per 10 grams—meaning it has become ₹400 more expensive.

What is the price of silver?

Meanwhile, the price of silver has remained unchanged for the second consecutive trading session. Today, silver held steady at ₹215,000 per kilogram; this is the same rate as Monday, with no change. The bullion market is closed today, Tuesday, October 20, on account of Dussehra.

Will gold become more expensive after Dussehra?

Along with the festive season, the wedding season is also fast approaching. Given this, an increase in gold purchases is expected. Gold buying may gain further momentum ahead of Diwali. However, the extent of any price increase will depend on both domestic demand and trends in the international market.

What is the situation in the international market?

Precious metals have also found support in the global market. On Monday, spot gold rose by more than 1% to reach $4,175.57 per ounce. Meanwhile, the price of silver also climbed by over 1%, reaching $57.63 per ounce.

Will gold become more expensive by Diwali?

According to Vikas Gupta, CEO of Omnisci Science Capital, demand for gold during the festive and wedding seasons could provide support to prices. However, expectations regarding interest rate decisions by the US Federal Reserve could also exert pressure on gold prices in the international market.

Consequently, a slight increase in gold prices is possible in the domestic market during the festive season, though the future price trend will depend on global cues. If you are planning to purchase gold for Diwali, be sure to check the latest rates in your city before making a purchase.