Prices of the precious metals saw sharp correction on October 17, following a record rally that took Silver to record highs during the festive season this year.
Price of gold was down 3 per cent, while silver slid more than 8 per cent at close time, due to profit-booking and amid signs of easing trade tensions between the United States and China, ANI reported.
Silver, gold hold safe haven appeal, says experts
However, despite the correction, market experts feel that gold and silver still hold safe haven appeal for risk averse investors looking to safeguard their portfolios in a volatile market.
Markets expert Ajay Bagga described the price fall on October 17 as a “necessary tactical retreat” driven by short-term sentiment shifts and natural profit-taking after a historic rally, the report added.
Bagga advised investors to view the correction as an opportunity to establish or add to long-term positions. While he did feel that Silver’s outlook remains even stronger than Gold’s due to its dual as a precious metal and a critical industrial material, Bagga cautioned that one should not give into “speculative frenzy and physical market dislocation”.
How much have Silver and Gold gained in long-term?
Notably, over the past year, Silver has proved to be resilient — sometimes beating gold in returns! Silver prices have held firmly above the ₹1 lakh per kg mark for the past months; and longer term in these past 20 years (2005-2025), the shiny metal has gained an impressive 668.84 per cent.
Over the past 20 years, gold prices have skyrocketed by a solid 1,200 per cent from ₹7,638 in 2005 to over ₹1,25,000 in 2025 (till September), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 56 per cent, with consistent record highs solidifying its position among 2025’s top-performing asset classes and a reliable hedge.
Silver price today: Check rates of gold and silver on October 18
The MCX gold index was at ₹1,27,320/10 gm at 8 am on October 18, the official website showed. Meanwhile, MCX silver prices were at ₹1,57,300/kg, it showed.
Further, 24-carat gold was priced at ₹1,27,320/10 gm, according to data on the Indian Bullion Association (IBA) at 8 am on October 18. Further, 22-carat gold was priced at ₹1,16,710/10 gms. Silver prices today are at ₹1,57,300/kg (Silver 999 Fine), as per the IBA website.
So, check silver and gold rates in your cities — Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune on October 18. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you.
Gold and Silver Prices in Ahmedabad — October 18
• Gold bullion rates in Ahmedabad— ₹1,27,490/10 gm.
• MCX Gold rate today Ahmedabad — ₹1,27,320/10 gm.
• Silver bullion rate in Ahmedabad— ₹1,57,510/kg.
• MCX Silver 999 rate in Ahmedabad — ₹1,57,300kg.
Gold and Silver Prices in Bengaluru — October 18
• Gold bullion rates in Bengaluru— ₹1,27,420/10 gm.
• MCX today gold rate Bangalore — ₹1,27,320/10 gm.
• Silver bullion rate in Bengaluru— ₹1,57,420/kg.
• MCX Silver 999 rate in Bengaluru — ₹1,57,300/kg.
Gold and Silver Prices in Chennai — October 18
• Gold bullion rates in Chennai— ₹1,27,690/10 gm.
• MCX Gold rate in Chennai — ₹1,27,320/10 gm.
• Silver bullion rate in Chennai— ₹1,57,760/kg.
• MCX Silver 999 rate in Chennai — ₹1,57,300/kg.
Gold and Silver Prices in Delhi — October 18
• Gold bullion rates in New Delhi— ₹1,27,100/10 gm.
• MCX Gold rate in New Delhi — ₹1,27,320/10 gm.
• Silver bullion rate in New Delhi— ₹1,57,030/kg.
• MCX Silver 999 rate in New Delhi — ₹1,57,300/kg.
Gold and Silver Prices in Hyderabad — October 18
• Gold bullion rates in Hyderabad— ₹1,27,520/10 gm.
• MCX Gold rate in Hyderabad — ₹1,27,320/10 gm.
• Silver bullion rate in Hyderabad— ₹1,57,550/kg.
• MCX Silver 999 rate in Hyderabad — ₹1,57,300/kg.
Gold and Silver Prices in Kolkata — October 18
• Gold bullion rates in Kolkata— ₹1,27,150/10 gm.
• MCX Gold rate in Kolkata — ₹1,27,320/10 gm.
• Silver bullion rate in Kolkata— ₹1,57,090/kg.
• MCX Silver 999 rate in Kolkata — ₹1,57,300/kg.
Gold and Silver Prices in Mumbai — October 18
• Gold bullion rates in Mumbai— ₹1,27,320/10 gm.
• MCX Gold rate in Mumbai — ₹1,27,320/10 gm.
• Silver bullion rate in Mumbai— ₹1,57,300/kg.
• MCX Silver 999 rate in Mumbai — ₹1,57,300kg.
Gold and Silver Prices in Pune — October 18
• Gold bullion rates in Pune— ₹1,27,320/10 gm.
• MCX Gold rate today Pune — ₹1,27,320/10 gm.
• Silver bullion rate in Pune— ₹1,57,300/kg.
• MCX Silver rate today Pune — ₹1,57,300kg.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
