Strong optimism among investors regarding the US Federal Reserve’s policy announcement on November 3, 2025, led to an increase in India’s gold and silver prices on October 30, 2025. The rise followed weeks of price correction from the spike in late August and September.
The price of 24-carat gold is ₹158 to ₹12,240 per gram, 22-carat gold is ₹145 to ₹11,220 per gram, and 18-carat gold is ₹9,180 per 18-carat gold. Futures of the December delivery of gold on the Multi-Commodity Exchange were up at ₹1,21,460 per 10 grams. Bullion and commodities prices soared globally, as did silver prices, closing silver futures at ₹1,44,342 per kilogram, and silver closed at ₹152 per gram.
High industrial demand and supply chain disturbances have occurred. Global bullion prices substantially influence India’s gold prices, the rupee-dollar exchange rate, the 10% import tax, and local taxes. Due to a weaker rupee, gold imports have become more expensive, putting pressure on domestic gold prices in India. India is the world’s second-largest gold consumer after China.
Major cities reported these gold rates per 10 grams on October 30, 2025:
- Delhi: ₹1,21,840 (24K), ₹1,11,710 (22K)
- Mumbai: ₹1,21,720 (24K), ₹1,11,620 (22K)
- Chennai: ₹1,22,400 (24K), ₹1,12,210 (22K)
- Bangalore: ₹1,21,690 (24K), ₹1,11,560 (22K)
- Kolkata: ₹1,21,700 (24K), ₹1,11,570 (22K)
Strong industrial demand and supply chain blockages are the main factors driving silver production. While the Fed’s position is expected to trigger short-term volatility, in the long run, gold will remain the best shield against inflation and global market uncertainty. Finally, cheaper demi-fine jewellery, often made with sterling silver, gold plating, and semi-precious gems, is gaining popularity among customers.
While financial markets are exploring additional prospects, such as the risks and implications of inflation and global economic challenges, it is believed that gold will remain the preferred safe-haven investment for Indian consumers, given its volatile price. This increase can be attributed to the behaviour of the global market following the actions taken during the Fed session, as Jerome Powell made numerous remarks that investors took seriously, thereby enhancing the appeal of precious metals in times of economic insecurity.