Big Fall In Gold Rate In India! Silver Continues To Shine, Will Saturday's Trend Reverse Slide?11 Oct Outlook

Gold Rate in India: The unprecedented gold price rally came to a halt on Friday, offering some relief to investors and retail jewellery buyers alike. On the occasion of Karwa Chauth, gold prices in India witnessed a sharp correction on October 10. As the weekend approaches, retail buyers are expected to keep a close watch on gold price movements on Saturday, October 11.

Price correction on Friday ended six-day running streak of the precious metal after tensions around Israel and Gaza appeared to have eased due to US President Donald Trump's Gaza-Israel peace plan. Meanwhile, expectations of US Fed rate cut, persistent US shutdown, and geopolitical tensions.

Gold Rate In India

On October 10th, the price of 10 grams of 24 karat gold fell by Rs 1,860, bringing it down to Rs 1,22,290. Similarly, the cost for 100 grams saw a significant drop of Rs 18,600, settling at Rs 12,22,900. The prices for smaller quantities also decreased; 8 grams and 1 gram reduced by Rs 1,488 and Rs 186 respectively, now priced at Rs 97,832 and Rs 12,229.

Silver Rate in India

The price of silver stood at Rs 174.10 per gram and at Rs 1,74,100 per kilogram. There has been a sharp surge in the prices of silver over the past few days given the metal's strong industrial demand and positive outlook. Experts believe that despite silver beating gold in its price rally this year, the white metal's upward trend is likely to continue in 2026 as well.

Gold, Silver Price Outlook

The Friday's price correction may see some stability as MCX will remain shut for trading on Saturday and Sunday. However, domestic gold and silver rates may see some price fluctuations. According to experts, the precious metals may see strong demand given the ongoing festive season in India.

"Increased preference for gold as against US Dollar by institutional investors and central banks at the heart of appreciation in precious metals. Demand-supply dynamics are favorable to bring upward mobility in silver prices and technically near a break out zone for all time prices," stated Ashish Ranawade, Head of Products, Emkay Wealth Management.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.

Credit: Goodreturns