Festive Season Sends Gold Rates Soaring in India Amid Global Volatility

The Indian festive season is known for boosting gold sales, particularly during Diwali and wedding seasons. As of now, gold rates in India are experiencing a phase of correction and volatility due to global geopolitical conflicts, higher crude oil prices, and elevated Fed interest rates.

Ahead of the festive season, gold rates remain volatile but slightly lower than last year's rates. The current average gold rates stand at ₹14,918 per gram for 24-karat gold, ₹13,675 per gram for 22-karat gold, and ₹11,189 per gram for 18-karat gold.

The peak season from October to February creates a demand and supply pressure on Indian jewelers. People often buy heavy gold items like bullions, coins, and jewelry during this time for gifting or personal use.