Gold Price On October 29: India’s sparkling gold surge has suddenly lost momentum. After months of record-breaking highs, gold prices have dropped to a three-week low, with 24K gold plummeting nearly Rs 1 lakh per 100 grams in just ten days.

Gold Falls Below Rs 12,100 Per Gram

On Tuesday, October 28, 24K gold tumbled to Rs 12,082 per gram, down from Rs 13,084 on October 18. Meanwhile, 22K gold declined by Rs 225 to Rs 11,075 per gram, and 18K gold slipped to Rs 9,062 per gram. This marks a dramatic cooling after one of the strongest rallies in decades, during which prices surged over 60 per cent in 2025, driven by global uncertainties, trade tensions, and safe-haven demand.

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Gold and silver saw a modest rebound on Wednesday ahead of a widely anticipated interest rate cut by the US Federal Reserve. However, easing US-China trade tensions kept gains in check. In Mumbai, 24-carat gold was priced at Rs 1,21,580 per 10 grams, while 22K gold stood at Rs 1,11,450 per 10 grams, exclusive of GST and making charges. Silver was available at Rs 1,50,900 per kg.

Check City-wises Prices for 22K & 24K Gold Rates On October 29

On the MCX, gold contracts for December 5, 2025, were up 0.36 per cent in morning trade at Rs 1,20,073 per 10 grams. Silver also rose 0.63 per cent to Rs 1,45,248 per kg.

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In the international market, US spot gold increased 0.2 per cent to $3,957.42 per ounce after hitting its lowest level since October 7 on Tuesday. US gold futures for December delivery fell 0.3 per cent to $3,971.20 per ounce.