Gold Prices Dip After Dussehra, Silver Continues to Shine Across Major Cities

Gold Rate Today (October 3, 2025): The festive rally in gold prices has come to a sudden halt right after Dussehra. On Thursday, October 3, domestic markets witnessed a sharp decline in gold rates, while silver continued to hold its momentum with steady gains.

Gold Prices Slide in Delhi

In the national capital, 24-carat gold slipped to ₹1,18,830 per 10 grams, while 22-carat gold was priced at ₹1,08,940 per 10 grams. Just two days earlier, on October 1, gold had surged by ₹1,100 in Delhi’s bullion market, crossing the ₹1.21 lakh per 10 grams mark. The sudden drop has surprised traders and buyers who were expecting prices to remain strong post-festivals.

Prices in Other Metro Cities

• Mumbai, Chennai, and Kolkata: The price of 22-carat gold is currently ₹1,08,790 per 10 grams, whereas 24-carat gold is trading at ₹1,18,680 per 10 grams.

• Jaipur, Lucknow, and Chandigarh: In these cities, 24-carat gold stands at ₹1,18,830 per 10 grams, while 22-carat gold is priced at ₹1,08,940 per 10 grams.

• Bhopal and Ahmedabad: Retail rates for 22-carat gold are ₹1,08,840 per 10 grams, while 24-carat gold is available at ₹1,19,310 per 10 grams.

• Hyderabad: The city’s bullion market reported 22-carat gold at ₹1,08,790 per 10 grams and 24-carat gold at ₹1,18,680 per 10 grams.

This correction in prices comes after nearly two weeks of consistent gains when the onset of Sharadiya Navratri pushed gold to fresh peaks almost every day.

Global and Domestic Factors at Play

Gold prices in India are influenced by a mix of international market trends, currency movements, and local demand during festivals. Experts believe the latest dip may be linked to global cues, particularly the strengthening of the US dollar and easing international spot prices. Domestically, traders suggest that immediate festive demand has already been factored into earlier price hikes, leading to a natural correction after Dussehra.

Silver Continues Its Upward Trend

Unlike gold, silver prices remain bullish. On October 3, silver gained ₹100 per kilogram, taking the rate to ₹1,53,100 per kilogram in Delhi. On October 1, silver was steady at ₹1,50,500 per kilogram, but the precious metal has now regained traction, driven by strong industrial demand and investment inflows.

What This Means for Buyers

For consumers planning to buy gold jewellery or invest in bullion, the latest price drop could offer a short-term opportunity. Many jewellers are also running festive-season promotions, which could further ease the burden on buyers. However, market watchers warn that volatility may continue in the coming weeks as both global and domestic factors remain uncertain.

Key Highlights at a Glance:

• Delhi Gold Price: 24-carat at ₹1,18,830; 22-carat at ₹1,08,940 per 10 grams.

• Mumbai, Chennai, Kolkata: 22-carat at ₹1,08,790; 24-carat at ₹1,18,680 per 10 grams.

• Bhopal & Ahmedabad: 22-carat at ₹1,08,840; 24-carat at ₹1,19,310 per 10 grams.

• Silver Price in Delhi: ₹1,53,100 per kilogram (up ₹100).

Outlook

As India enters the peak wedding and festive season, demand for gold and silver is expected to remain high despite short-term fluctuations. Analysts suggest that gold may consolidate at current levels before making its next move, while silver could continue to outperform if industrial demand stays strong.