Gold, silver rates today, October 29: Gold falls, silver extends losses on Karwa Chauth; Dhanteras, Diwali in focus

Gold and silver prices moved lower on Thursday, October 29, with gold futures falling 0.28% and silver declining 1.18% on the Multi Commodity Exchange (MCX). The decline comes on Karwa Chauth, when many households across India buy gold and silver jewellery, coins and other precious-metal items.

With Dhanteras falling on November 6 and Diwali on November 8, buyers will be watching price movements closely ahead of the festive shopping season. While gold saw some gains in early trade on firm spot demand, the latest market data showed both precious metals trading lower.

Gold, silver prices today on October 29

Silver futures for December delivery fell to ₹1,92,025 per kg, down ₹2,300, or 1.18%. During the session, prices ranged between ₹1,91,706 and ₹1,93,912 per kg.

Earlier in the day, gold futures had moved higher on firm spot demand. According to PTI, the December gold contract rose ₹102 to ₹1,43,807 per 10 grams in morning trade. Silver futures, meanwhile, fell ₹673 to ₹1,93,652 per kg as traders reduced their positions.

The difference between the earlier and later prices highlights the intraday volatility in the bullion market.

Gold and silver rates in India today

According to All India Bullion, 24-carat gold was priced at around ₹1,44,597 per 10 grams as of approximately 1:21 pm on October 29. The rate for 22-carat gold stood at ₹1,32,450 per 10 grams, while 18-carat gold was priced at ₹1,08,447 per 10 grams.

Silver of 999 purity was trading at around ₹1,96,734 per kg.

Gold and silver rates in major cities on October 29

How Fed's decision affect gold prices?

The US Federal Reserve's decision to keep interest rates unchanged could offer some relief to Indian gold buyers, although the impact on prices will depend on how global markets interpret the policy outlook.

Gold prices are influenced by several factors, including US interest-rate expectations, the dollar, bond yields, geopolitical developments and investment demand.

For Indian buyers, domestic demand during the festive season could also influence prices. However, strong festive buying does not necessarily translate into an immediate rise in gold rates, as international price movements and currency fluctuations also play a role.

What to expect ahead of Dhanteras and Diwali

The US Federal Reserve's decision to hold rates steady may help keep gold prices within a relatively narrow range in the near term, although this is not guaranteed. A sustained recovery could depend partly on whether expectations around the Fed's December policy decision change. Meanwhile, festive demand in India could support buying interest, even as geopolitical uncertainty and global market movements keep prices volatile.

For consumers planning purchases, it may be worth comparing rates across jewellers and checking the final bill, including making charges and applicable taxes. Buyers should also confirm the purity of the gold or silver and remember that quoted prices can change during the day.