New Delhi: The gold rate today, October 28, shows a largely stable trend across India’s major cities like Chennai, Mumbai, Delhi, and Kolkata. With the festive season of Dhanteras and Diwali fast approaching—a period that traditionally boosts gold sales—investors and buyers are closely monitoring the price of the precious metal.
The bullion market is currently shaped by international factors and strong domestic demand. Globally, the appeal of gold as a safe-haven asset is being bolstered by geopolitical tensions in the Middle East, even as it contends with a resilient US dollar. Domestically, the anticipated demand for the upcoming festive and wedding seasons is providing strong support, preventing any significant price drops.
Today, the price for 10 grams of 24 carat gold, the purest form, is holding steady above the ₹62,000 mark in most metro cities. Similarly, the rates for 22 carat gold, popular for jewellery, and 18 carat gold, often used for diamond-studded pieces, have seen only minor fluctuations.
It is important for consumers to remember that the prices listed below are indicative. They do not include Goods and Services Tax (GST), Tax Collected at Source (TCS), or making charges, which can vary between jewellers.
Today’s Gold Rate in Major Cities (October 28)
Here is a detailed breakdown of the prevailing gold prices per 10 grams for 18, 22, and 24 carats in key Indian cities today:
| City | 24 Carat (per 10g) | 22 Carat (per 10g) | 18 Carat (per 10g) |
| :— | :— | :— | :— |
| Chennai | ₹62,680 | ₹57,550 | ₹47,010 |
| Mumbai | ₹62,250 | ₹57,060 | ₹46,690 |
| Delhi | ₹62,400 | ₹57,200 | ₹46,800 |
| Kolkata | ₹62,250 | ₹57,060 | ₹46,690 |
| Bengaluru | ₹62,350 | ₹57,150 | ₹46,760 |
| Hyderabad | ₹62,250 | ₹57,060 | ₹46,690 |
| Pune | ₹62,250 | ₹57,060 | ₹46,690 |
| Ahmedabad | ₹62,300 | ₹57,110 | ₹46,725 |
Why Are Gold Prices Stable? Festive Demand and Global Cues
Market analysts note that the current price stability presents a complex situation for buyers. While rates are considerably higher than last year, ongoing global uncertainty is expected to keep gold prices firm.
“We are witnessing a classic tug-of-war between a strong dollar and safe-haven demand,” said Anjali Mehra, a commodities analyst at Fintrust Capital. “For the Indian consumer, the upcoming festive demand will be the primary driver. We don’t foresee a major correction before Diwali.”
This stability in the price of 10 grams of 22 carat gold is crucial for jewellery buyers. “Buyers might see small, daily fluctuations, but the overall trend remains upward-biased,” Mehra added. “It’s advisable for those planning to purchase for weddings or as an investment to stagger their buying rather than waiting for a steep fall.”
The difference in gold rates between cities like Chennai and Delhi is due to local factors such as state taxes, transport costs, and charges set by regional bullion associations.
Before making a purchase, always confirm the live rates with your local jeweller, as prices can change throughout the day.
