Gold prices in India surged sharply on Monday, reflecting a mix of global economic anxiety and strong domestic demand ahead of the festive season.
According to market trackers and bullion dealers, the price of 24-carat gold rose to ₹12,077 per gram, marking a ₹137 increase from the previous day. This spike comes amid rising concerns over geopolitical tensions and expectations of monetary easing in the U.S. and Europe.
The surge is consistent across major cities, with Mumbai, Bengaluru, Hyderabad, and Kerala all reporting the same peak rate of ₹12,077 per gram. Chennai followed closely at ₹12,066, while Delhi recorded ₹11,954.
Festive Demand Fuels Gold Price Surge Across India
With Navratri and Diwali around the corner, jewellers are witnessing a noticeable uptick in footfall and pre-bookings. “We expect this momentum to continue through October,” said a spokesperson from the All India Gems & Jewellery Trade Federation. “Gold remains a trusted investment, especially during uncertain times.”
Meanwhile, 22-carat gold climbed to ₹11,070 per gram, and 18-carat gold reached ₹9,058 per gram, making it accessible for budget-conscious buyers.
#Gold price holds steady above Rs 1,17,000
Check rates in Delhi, Mumbai, other cities
Read more: https://t.co/6E90KZZAal pic.twitter.com/ZRrcTQVDuj
— NDTV Profit (@NDTVProfitIndia) October 3, 2025
Global Uncertainty Drives Safe-Haven Buying
Internationally, gold is trading near $2,015 per ounce, buoyed by fears of a prolonged U.S. government shutdown, volatile oil prices, and weakening global currencies. Analysts suggest that central banks may pivot toward rate cuts, further boosting gold’s appeal.
India's massive jewellery sector is hurting this Diwali thanks to record high #gold prices. But like China already in 2025, this 'demand destruction' is seeing money diverted into investment bars, ETFs, 'digital' products instead >> https://t.co/rxKSQXjpBY pic.twitter.com/FnXxpDouzs
— BullionVault (@bullionvault) October 6, 2025
Notably, India’s gold imports rose by 14% year-on-year in September, according to data from the Ministry of Commerce. This trend underscores the metal’s enduring role as a hedge against inflation and currency depreciation.
City-Wise Gold Price Snapshot (24K per gram)
| City | Price (₹) |
|---|---|
| Mumbai | ₹12,077 |
| Chennai | ₹12,066 |
| Delhi | ₹11,954 |
| Bengaluru | ₹12,077 |
| Hyderabad | ₹12,077 |
| Kerala | ₹12,077 |
What This Means for Buyers
For Indian consumers, the current surge presents both a challenge and an opportunity. While prices are high, many see gold as a long-term asset. Experts recommend buying in small quantities or waiting for minor dips.
