India will celebrate Dhanteras tomorrow which is the major gold buying festival of the year. People rush to local jewellers and retailers to make their annual purchase of gold & silver jewelry. This huge spike in the gold rate is due to multiple factors, the major one being the US-China trade war. The uncertainty in the market has caused the US dollar index to decline to monthly low, along with a dip in the treasury yields, which made gold more preferential for buyers.Spot gold in the international market is also trading at a record level Crossing $4300 per ounce. Gold Rate in India Today As of 17th October, Friday, the 24-carat gold rate in India jumped by Rs. 3330 per 10 grams to cost Rs 1,33,770 per 10 grams. The 22-carat gold price in India rallied by Rs. 3000 per 10 grams to reach Rs.1,21,700 In a similar manner, the 18-carat gold rates spiked by Rs 2500 per 10 grams to cost Rs. 99,580 Just like that,the higher weight quantities of gold also experienced the price hike. The 100 grams of 24-carat gold rate stands at Rs 13,27,700 ,and the 22-carat gold rate is currently at Rs 12,17,000 per 100 grams of gold. Silver Rates in India Today Silver prices in India on Friday declined after a continuous rally, which is taking the white metal to 2lac per kg levels. On 17th October, 1kg of silver in India cost Rs. 1,85,000 after dropping Rs. 4000 while 100g of silver in India retails at Rs. 18,500 Latest 22-Carat & 24-Carat Gold Prices Across India: City-Wise The current gold prices for 22-carat gold and 24-carat gold in major Indian metropolitans are similar to Indian gold prices today. Gold Price in Chennai

Gold Price in Bangalore As of today, the 22-carat gold rate in Bangalore stands at Rs.1,21,700 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs 1,33,770 per 10 grams. Gold in Price in Hyderabad The 22K gold price in Hyderabad is Rs.1,21,700 per 10 grams, while the 24K gold price in Hyderabad is Rs 1,33,770 per 10 grams. Gold Price in Mumbai The 22-carat gold in Mumbai is Rs.1,21,700 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs 1,33,770 per 10 grams. Spot Gold Price and Spot Silver Rate According to a latest report by Reuters, Spot gold rose 0.9% to $4,362.39 per ounce, as of 0439 GMT, after scaling another record high of $4,378.69 earlier. U.S. gold futures for December delivery jumped 1.7% to $4,375.50.Spot silver rose 0.3% to $54.41 per ounce, set for an 8.2% weekly gain." Market Outlook for Gold Prices ICICI's daily commodity outlook mentioned, "Spot Gold is likely to hold its gains and move higher on safe haven demand and rate cut optimism. Further renewed concerns over bad debt in US regional banks heightened broader credit market stress. Additionally, dovish comments from the US Fed members fueled the bets of loose monetary policy from the US Fed. Concerns over US labor market and steady inflation numbers has pushed the prospects of two rate cuts in this year. Prices would also get support from economic uncertainty and extension in US Government shutdown which could bring more inflows via ETFs." As for the outlook for gold prices, the report said, "Gold is likely to move higher towards $4400, as long as it holds above $4250."