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Gold and Silver Prices Surge on October 18 – Check Latest Rates!

Gold prices reached ₹78,270 in Delhi on October 18, driven by geopolitical tensions. Silver dropped to ₹96,900 per kg in major cities due to weak industrial demand.
Gold and Silver Prices Surge on October 18 – Check Latest Rates!

Gold prices surged across major Indian cities on October 18, 2024, as investors sought safety amidst rising geopolitical tensions in West Asia. In Delhi, the price of 24K gold climbed by ₹220 to ₹78,270 per 10 grams, reaching a record high. Silver, however, saw a decline of ₹200 per kg, trading at ₹96,900 due to weaker industrial demand.

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Gold Prices Hit Record High:

Gold prices hit record levels on October 18, driven by escalating tensions in West Asia. In Delhi, 24K gold surged by ₹220 to ₹78,270 per 10 grams, while 22K gold increased by ₹200 to ₹71,760 per 10 grams. Other major cities followed suit with similar price movements.

Gold Price Today in Major Cities:

City22K Gold (per 10gm)24K Gold (per 10gm)
Delhi₹71,760₹78,270
Mumbai₹71,610₹78,120
Chennai₹71,610₹78,120
Kolkata₹71,610₹78,120

Also read: Gold Rate Today In India 2024 – Today’s Gold Price In India

Silver Prices Dip Across Indian Cities:

Silver prices followed a different trajectory, easing by ₹200 per kg in Delhi, with silver trading at ₹96,900 per kg in most major cities. This dip comes after a strong weekend performance, with silver prices experiencing a modest correction due to weak industrial demand.

Silver Price Today in Major Cities:

CitySilver Price (per kg)
Delhi₹96,900
Mumbai₹96,900
Chennai₹1,02,900
Kolkata₹96,900

Also read: Silver Rate Today In India

Weekend Surge Fuels Gold, Silver Prices:

Gold and silver prices experienced a notable surge over the weekend. Gold gained ₹1,040 per 10 grams, reaching a new high due to increased demand amid geopolitical risks. Silver also saw significant gains of ₹2,000 per kg, supported by higher demand from industrial sectors and coin makers.

Gold and Silver Price Comparison of This Week:

Date22K Gold (per 10g)24K Gold (per 10g)Silver Price (per kg)
Oct 18, 2024₹71,610₹78,120₹96,900
Oct 17, 2024₹71,410₹77,900₹96,900
Oct 16, 2024₹70,940₹77,540₹96,800
Oct 15, 2024₹71,140₹77,610₹96,900
Oct 14, 2024₹71,190₹77,660₹96,900

Global Trends Impact Gold Prices

Globally, gold prices surged to $2,707 an ounce on October 18, spurred by heightened geopolitical tensions in West Asia. As demand for safe-haven assets grows, gold has continued to rally, supported by weaker U.S. bond yields. However, silver prices remained relatively flat due to weaker industrial demand.

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Gold and Silver Trends This Festive Season

With India approaching the festive season, gold and silver demand is expected to rise. Dhanteras and Diwali traditionally boost consumer buying, but the recent price surge in gold and fluctuations in silver prices indicate potential market volatility as the festive period approaches.

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