Gold and silver prices rose on October 19, 2026, ahead of the Dussehra festival, prompting buyers to check the latest rates before making purchases. MCX gold futures increased by 0.33% to ₹1,48,413 per 10 grams, while silver futures gained 0.57%, trading at ₹2,12,381 per kilogram. This rise reflects market movements influenced by global economic factors and regional tensions.
- MCX gold futures price: ₹1,48,413 per 10 grams
- MCX silver futures price: ₹2,12,381 per kilogram
- Market volatility expected due to West Asia tensions and crude oil prices
- City-wise gold rates vary; buyers should confirm prices with jewellers
- Commodity markets closed for the morning session on October 20, 2026
Why Are Gold and Silver Prices Rising Ahead of Dussehra?
Gold and silver prices often fluctuate due to global economic conditions and local demand. Ahead of Dussehra, a major festival in India, demand for precious metals typically increases as people buy jewellery and coins. On October 19, 2026, prices rose partly because of tensions in West Asia, which affect global markets, and rising crude oil prices nearing USD 110 per barrel. These factors create uncertainty, leading investors and buyers to turn to gold and silver as safe assets.
What Are the Current MCX Futures Prices for Gold and Silver?
On October 19, 2026, MCX gold futures for contracts expiring on December 4 were trading at ₹1,48,413 per 10 grams, showing a 0.33% increase. The intraday low was ₹1,48,120, and the high was ₹1,48,499. Silver futures for the same expiry rose 0.57%, trading at ₹2,12,381 per kilogram. These prices reflect trading on the Multi Commodity Exchange and can differ from retail prices.
How Do Retail Gold Prices Vary Across Cities and Jewellers?
Retail gold prices depend on purity, making charges, taxes, and location. For example, the 22-carat gold rate at Tanishq was ₹13,575 per gram (₹1,35,750 per 10 grams). Other jewellers like Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported similar rates around ₹13,570 per gram. Prices may vary by showroom and city, so buyers should confirm the exact rate and request a detailed bill before purchasing.
What Factors Could Affect Gold and Silver Prices This Week?
Analysts expect continued volatility in bullion prices due to several factors:
- Geopolitical tensions in West Asia
- Crude oil prices nearing USD 110 per barrel
- Movements in the Indian rupee
- Economic data from China, the US, India, and the UK, including housing figures, consumer sentiment, and inflation expectations
- Global purchasing managers' index readings
- Developments in Russian crude supplies and the US dollar's strength
What Should Buyers Do Before Purchasing Gold or Silver?
Buyers planning to purchase gold or silver jewellery or coins for Dussehra should:
- Check the latest city-wise rates with their preferred jeweller
- Confirm the purity and weight of the gold or silver
- Understand making charges and applicable GST
- Request a detailed bill showing the complete purchase amount
- Be aware that commodity market trading will be closed during the morning session on October 20, 2026
By following these steps, buyers can make informed decisions and avoid surprises during their festive shopping.
