Gold Rate Today: People across India have commenced the five-day Diwali festivities, beginning with Dhanteras today, a Hindu festival regarded as auspicious for investing in gold and silver.
As the festive season kicked off, the gold rates in India have been at an all-time high, with the price of the yellow metal reaching historic highs at the start of October, driven by concerns over a potential US government shutdown, which led to increased demand for safe-haven assets.
Today, October 18, Saturday, gold prices have shown an upward trend, with the price being ₹13,278 per gram for 24-karat gold, ₹12,171 per gram for 22-karat gold and ₹9,959 per gram for 18-karat gold.
Gold is widely regarded as an effective hedge against inflation; among the different types of gold, 24-carat gold stands out as the most expensive and is primarily used for investment purposes. In contrast, 22-carat and 18-carat gold are mainly employed in the creation of jewellery.
Gold rate in India today, on October 18 (INR):
The price of gold in India today is ₹13,278 per gram for 24 karat gold, ₹12,171 per gram for 22 karat gold and ₹9,959 per gram for 18 karat gold.
