Gold prices crossed the Rs 1.5 lakh mark per 10 grams in Delhi on Monday, October 19, 2026, as festive demand improved and international bullion prices remained firm. With Dussehra and Diwali approaching, buyers are closely tracking the market to determine whether gold prices could climb further during the festive season.
According to the Press Trust of India (PTI), the price of 99.9% pure gold rose by Rs 400 to Rs 1,50,300 per 10 grams, inclusive of all taxes, compared with Friday’s closing price of Rs 1,49,900. Silver prices, meanwhile, remained unchanged at Rs 2.15 lakh per kilogram for the second consecutive session.
Why are gold prices rising ahead of Diwali?
Improving retail demand and supportive global market trends have contributed to the latest rise in domestic gold prices. Market participants have reported a recovery in physical gold purchases as lower prices in recent weeks encouraged consumers to return to jewellery stores.
Saumil Gandhi, senior analyst for commodities at HDFC Securities, said domestic gold prices moved higher on Monday, supported by positive overseas trends and improving retail demand as the festive season began.
He also noted that physical gold demand had improved, with the metal trading at a premium last week for the first time in more than three months. Retail demand is expected to strengthen further ahead of Diwali, potentially supporting domestic prices.
Will gold prices rise further before Diwali?
Market experts expect festive and wedding-related demand to provide some support to gold prices in the coming weeks. However, a sustained rally is not guaranteed, as global interest-rate expectations and movements in the US dollar and bond yields could influence bullion prices.
Vikas Gupta, smallcase manager and CEO of Omniscience Capital, said festive and wedding seasons typically support gold prices. However, the possibility of US Federal Reserve rate hikes could keep international prices under pressure.
Gupta expects a modest festive-season increase in domestic gold prices, followed by relative stability. His assessment suggests that while prices may receive support from seasonal purchases, buyers should not assume that gold will continue rising sharply throughout the period.
Gold and silver prices in the international market
In international trading on Monday, spot gold was quoted at around $4,175.57 per ounce, while spot silver rose by more than 1% to $57.63 per ounce.
Gaurav Garg, head of research at brokerage platform Lemonn, attributed the strength in precious metals partly to easing crude oil prices and declining US Treasury yields, which can reduce inflation concerns and support demand for gold and silver.
Geopolitical tensions and risks to shipping through the Strait of Hormuz remain additional factors that could influence market sentiment. Developments in energy markets and expectations surrounding US monetary policy will therefore remain important for precious-metal prices.
Silver prices remain steady at Rs 2.15 lakh per kg
While gold recorded a modest increase, silver prices in Delhi remained unchanged at Rs 2,15,000 per kilogram on Monday. The metal’s performance will continue to depend on international prices, industrial demand, investor sentiment and currency movements.
For consumers planning festive purchases, it is important to distinguish between market prices and the final cost of jewellery. Retail rates can vary by city and jeweller, while making charges, purity and applicable taxes can affect the final bill.
Should buyers purchase gold now or wait?
Consumers buying gold for weddings or festive occasions may consider their immediate requirements and budget rather than attempting to predict the exact market peak. Those purchasing for investment purposes should account for price volatility, their investment horizon and the possibility of further corrections.
Gold prices can move in either direction depending on global economic data, central-bank policy expectations, geopolitical developments and domestic demand. A rise ahead of Diwali is possible, but it is not assured.
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