Gold Price Today, October 31, 2026: Gold Rates Drop Ahead of Diwali; Check City-Wise Prices

Gold Price in India: Gold prices witnessed another drop on Saturday, October 31 giving some relief to consumers before the Diwali festive season. The precious metal continued its price drop for the second consecutive session. The 24K gold rate now fell by around INR 5,070 per 10 grams over the past 2 sessions.

According to Goodreturns the price of 24K gold in India stands at approximately ₹1,38,880 per 10 grams. Meanwhile 22K gold is at ₹1,27,300 per 10 grams and 18K gold at ₹1,04,160 per 10 grams. The latest development has brought relief to customers planning to buy jewellery and gold coins in the festival season.

This fall has been brought by pressures in the international gold market caused by US inflation levels and possible increase in US interest rates by the US Federal Reserve. A few positive US economic indicators have contributed to this situation as well. 

Gold Rates Across Major Indian Cities

Gold prices do vary across cities and states due to local taxes and other factors. Here are the prices of gold across different major cities on October 31, 2026.

Note: These are indicative gold rates per 10 grams. They exclude GST and other applicable charges.

Why Are Gold Prices Falling Ahead of Diwali?

There has been a significant fall in the price of gold before Diwali, although there are festival and wedding seasons to come. There are many international factors behind this dip.

One of the major reasons is the change in the view on US interest rates. Inflation figures exceeding market expectations have raised hopes for an increase in US interest rates again in December. Since gold gives no interest, an increase in interest rates will diminish its attractiveness. 

US economic performance and high oil prices have also raised inflation worries. All this has affected investment decisions and thus helped in the recent fall in international gold prices.

This dip has also encouraged retailers to look at their choices of purchase during the festival season. However gold prices continue to be dependent on international economic factors.

Factors Affecting Gold Prices Today

Note: Gold prices are influenced by several domestic and international factors

Difference Between 24K, 22K, 20K and 18K Gold

Gold purity is measured in karats (K), with 24K representing the highest purity. 22K gold contains 91.6% pure gold, while 20K contains 83.3%. 18K gold has 75% pure gold.

Also Read: How Much Will 10 Grams of Gold Cost On Dhanteras? Check MCX And City-Wise Rates