Gold Prices Slip Ahead of Dhanteras; Silver Also Declines as Festive Momentum Eases
Gold Price Today (October 17, 2025): Festive Rush Cools, Precious Metal Prices Ease Across Major Cities
After weeks of steady gains, gold prices in India have finally taken a breather, slipping slightly from record highs just days before Dhanteras 2025. Both gold and silver witnessed a mild correction amid reduced festive demand and global economic uncertainties, even as analysts expect a potential rebound in the coming weeks.
According to the latest market data, 24-carat gold in Delhi is now priced at ₹1,29,580 per 10 grams, while 22-carat gold stands at ₹1,18,790 per 10 grams. The decline mirrors trends seen in other metro cities like Mumbai, Chennai, Kolkata, and Hyderabad.
🪙 Gold Prices in Key Indian Cities
| City | 22 Carat (₹/10g) | 24 Carat (₹/10g) |
|---|---|---|
| Delhi | 1,18,790 | 1,29,580 |
| Mumbai | 1,18,640 | 1,29,430 |
| Ahmedabad | 1,18,640 | 1,29,480 |
| Chennai | 1,18,640 | 1,29,430 |
| Kolkata | 1,18,640 | 1,29,430 |
| Hyderabad | 1,18,640 | 1,29,430 |
| Jaipur | 1,18,790 | 1,29,580 |
| Bhopal | 1,18,640 | 1,29,480 |
| Lucknow | 1,18,790 | 1,29,580 |
| Chandigarh | 1,18,790 | 1,29,580 |
Across most major cities, gold rates have softened by a small margin, suggesting a pause in the recent rally that saw prices touch historic highs earlier this month.
📈 Global Factors Influencing Gold
The recent dip in prices comes after several weeks of bullish sentiment driven by a mix of festive demand, ETF inflows, and geopolitical tensions. Globally, gold prices had surged earlier due to:
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Renewed trade tensions between the U.S. and China,
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Expectations of a Federal Reserve interest rate cut,
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Strong buying by central banks, and
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The potential U.S. government shutdown, which created uncertainty in the markets.
As a result, investors turned to gold as a “safe-haven” asset. However, with a temporary easing of tensions and short-term profit booking, prices have corrected slightly in domestic markets.
In the international market, the spot price of gold rose about 1% to $4,246.08 per ounce, marking a near-record high despite local price adjustments in India.
💍 Outlook for Dhanteras and Beyond
Market analysts expect prices to remain volatile ahead of Dhanteras and Diwali, traditionally strong buying periods for precious metals in India.
Experts from Motilal Oswal Financial Services maintain a bullish long-term outlook, predicting that gold prices could touch ₹1.35 lakh per 10 grams in the near term and ₹1.50 lakh per 10 grams in 2026, driven by ongoing global uncertainties, potential rate cuts, and rising central bank demand.
For investors, analysts suggest using current dips as buying opportunities, especially with the festive season boosting consumer sentiment.
⚪ Silver Prices Also Ease
Alongside gold, silver prices have also fallen slightly. As of October 17, the retail price of silver in India stands at ₹1,88,900 per kilogram, marking a modest decline.
In global trade, silver gained marginally to $53.05 per ounce, supported by supply constraints and strong industrial demand. Analysts believe these fundamentals could prevent a sharp fall in silver prices despite short-term corrections.
Motilal Oswal expects silver to potentially reach ₹2.30 lakh per kilogram in the coming year if global industrial and investment demand remains strong.
💡 What’s Next for Precious Metal Investors
While prices have eased temporarily, the underlying global and domestic drivers remain supportive of long-term gains. Continued geopolitical risks, central bank purchases, and inflationary pressures could keep gold and silver attractive for portfolio diversification.
As Dhanteras approaches, buyers may find the current dip an ideal moment to lock in festive purchases — before prices possibly rise again in the upcoming months.
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