Indian Gold and Silver Prices Remain Steady Amid Global Economic Uncertainty

Gold and silver prices remained relatively stable in India on October 3, with only slight fluctuations observed in both 24-karat and 22-karat gold rates.

The Multi Commodity Exchange (MCX) was closed on Saturday and Sunday, meaning live trading rates were unavailable for the day. However, based on Thursday's closing levels, gold continued to trade above ₹1.49 lakh, albeit with a slight drop compared to previous sessions.

According to the Indian Bullion Association's data, 24-karat gold was priced at ₹150,550/10 grams, while 22-karat gold was priced at ₹138,004/10 grams on October 3. Silver prices stood at ₹226,590/kg (Silver 999 Fine).

Looking at the retail market in major Indian cities, 24-karat gold rates ranged from ₹150,020 to ₹150,710 per 10 grams, while 22-karat gold rates ranged from ₹137,518 to ₹138,151 per 10 grams. Silver prices varied between ₹225,790 and ₹226,840 per kg.

Gold prices have seen a significant bull run over the past year, rising by over 75% since 2023-2024. In recent months, gold prices have risen modestly due to safe-haven demand and global economic uncertainty. Silver prices, on the other hand, have experienced steeper increases due to strong demand and currency fluctuations.