Gold, Silver Rate on Dussehra 2026: Gold Above Rs 1.47 Lakh

In the physical market, 24-karat gold in Mumbai was priced at Rs 1,47,340 per 10 grams, while 22-karat gold, commonly used for jewellery, stood at Rs 1,35,062 per 10 grams, according to bullion.co.

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Gold, Silver Rate on Dussehra 2026: Gold Above Rs 1.47 Lakh

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A Year of Strong Returns

For those who bought on Dussehra last year, the festival is bringing extra cheer. Gold prices in India have risen more than 25 per cent since then, while silver has done even better, delivering returns of around 45 per cent.

What’s Weighing on Gold Globally

Internationally, the picture is more cautious. Spot gold edged up 0.1 per cent to $4,144.15 per ounce, while spot silver rose 0.6 per cent to $57.44 per ounce.

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High crude oil prices have raised worries about inflation, which in turn has strengthened expectations that the US Federal Reserve may raise interest rates further. That is usually bad news for gold, which does not pay interest.

Higher US Treasury yields have added pressure. A recovery in US technology stocks reduced demand for safe-haven government bonds, pushing yields up and making non-yielding metals like gold less attractive.

Stable in October, but Below Pre-Conflict Highs

Gold has mostly stayed above $4,100 per ounce in October, finding some stability after falling more than 6 per cent in September. However, it is still around 20 per cent below the levels seen before the US-Iran conflict began in late February.

Why It Matters for Buyers

For households, the big question is whether to buy now or wait. Strong one-year returns show gold and silver have rewarded long-term holders. But with the Fed’s next move uncertain, prices could stay volatile in the short term. Many buyers prefer to purchase in small amounts on festive days like Dussehra and Dhanteras rather than investing a large sum at once.

What Comes Next

All eyes will be on the MCX evening session today and the US Fed’s October 27-28 meeting, which could set the direction for precious metals ahead of Dhanteras and Diwali.