Gold steadies at ₹12,508/g across India on Oct 23, 2025

When 5paisa released its daily market snapshot on October 23, 2025, the headline was clear: 24‑carat gold was holding steady at ₹12,508 per gram in most of the country’s major metros. The same figure appeared in the morning update from Times Now News, while Delhi posted a modest premium of ₹12,603 per gram. The data came against a backdrop of Diwali prep and wedding season buying, a combination that usually sends the metal soaring.

Context: Why gold matters this time of year

India’s love affair with gold isn’t just cultural – it’s a financial strategy. Every October, retailers see a spike in jewellery orders as families ready for Diwali lights and a flood of weddings. That seasonal surge often cushions the metal from global shocks. In the past four trading sessions, the yellow metal has dipped only slightly from a short‑term peak, keeping investors comfortable.

“Retail demand remains robust,” said the research team at 5paisa. “Even with geopolitical headlines, Indian households are still buying gold as a hedge and a celebration piece.”

City‑by‑city price rundown

Here’s how the numbers stacked up across the nation:

• Mumbai: 24‑carat ₹12,508/g, 22‑carat ₹11,465/g, 18‑carat ₹9,381/g.
• Kolkata: 24‑carat ₹12,508/g (same as Mumbai).
• Bengaluru: 24‑carat ₹12,508/g; 22‑carat ₹11,465/g; 18‑carat ₹9,381/g.
• Pune: Mirrors Mumbai’s rates.
• Hyderabad: Identical to Mumbai and Bengaluru.
• Kerala (state‑wide average): 24‑carat ₹12,508/g, 22‑carat ₹11,465/g.

Only Delhi nudged higher, reflecting its traditional premium for capital‑city buyers.

Discrepancies in reporting

Not every outlet echoed the same numbers. Angel One Limited quoted a GoodReturns figure of ₹12,589 per gram for 24‑carat gold – a slight overstatement of about ₹81. The error likely stems from a conversion slip: GoodReturns actually listed ₹1,25,080 per 10 grams, which equals ₹12,508 per gram. The mismatch didn’t change market sentiment, but it does highlight the importance of double‑checking data in a fast‑moving market.

Impact on shoppers, jewellers and investors

For the average consumer, the stability means no surprise price shock at the checkout. Jewellery shops in Bengaluru and Hyderabad have reported “normal” foot traffic, with sales teams focusing on festive collections rather than discounting.

Investors, meanwhile, see gold’s steadiness as a reaffirmation of its safe‑haven status. In the past week, the metal’s price movement has been described as “consistent” by both Times Now News and the analysts at 5paisa. The consensus: expect firm prices through November’s Diwali rush and into the December wedding calendar.

What the numbers say about global cues

While Indian demand stays firm, global markets have been jittery – U.S. Treasury yields bouncing, and the yuan under pressure. Yet the local green‑backed market has insulated itself. “Domestic festive demand is a powerful counter‑balance,” noted the research team at 5paisa. "Even if the US dollar strengthens, the cultural pull of gold in India keeps the metal anchored."

Looking ahead: November and beyond

Analysts forecast that as Diwali decorations go up in early November, demand for gold jewellery will rise again, potentially nudging prices up by 0.5‑1 %.

“We don’t see any major correction unless there’s a sudden shift in global rates,” said the market outlook team at GoodReturns.in. “The festive season is a strong driver, and the wedding calendar extends that momentum well into December.”

In short, October 23‑24 has given Indian buyers a breather. The metal’s price is stable, the demand engine is humming, and the next few weeks should keep the trend alive.