As the festive season comes closer, the demand for gold across tier-1, tier-2 and tier-3 cities experiences a surge. The intensified demand for the yellow metal across India stays unimpacted even after gold on October 16, 2025, hit a new high, reflecting a blend of traditional demand and global economic factors.
Gold prices on Thursday marked a new high, with 10 grams of gold now priced at Rs. 128,395. The massive price hike in gold has been a culmination of a few things, including the geopolitical and tariff tensions across the globe.
Amid the rising gold prices across the globe, major Indian cities also observed the price inclination on Thursday. Amid the rising festive demands, buyers are closely tracking the rates ahead of Dhanteras and Diwali.
Gold prices reflect the current market trends and are subject to change based on market fluctuations.
Prices in Mumbai
As of October 16, 2025 the price of 24-carat gold has been priced at Rs 1,29,477 per 10 grams. This price point of 24-K gold marks a significant increase from earlier in the month. The surge in gold prices since the last few weeks is attributed to a combination of factors, including a weakening U.S. dollar and heightened global uncertainties.
Despite the rising gold prices in Mumbai and across the country, the demand for the yellow metal days before the festival stays quite high.
Prices in Delhi
Apart from Mumbai, the national capital also saw a significant price hike in gold. The 24-carat gold rates at Rs 1,29,623 per 10 grams. Same as the financial capital, the national capital’s demands for gold remained robust, driven by the upcoming Dhanteras and Diwali festivals.
Gold prices in Kolkata
Going on the eastern side of India, the gold prices on October 16 stayed at Rs 1,29,475 for 10 grams. While the demand for gold in Kolkata stays stagnant, jewellers across the city are offering attractive discounts on making charges to attract more customers just before the Diwali.