Gold Rates In India Crash After Fed Rate Cut; 100 Grams Drop By Rs 19,100
In a significant development for investors and jewellery buyers, gold prices in India have crashed following the US Federal Reserve’s surprise interest rate cut. The move triggered a sharp correction in global bullion markets, leading to a steep Rs 19,100 fall per 100 grams in domestic gold prices.
The yellow metal, which recently hit record highs amid global economic uncertainty, has now cooled off as the Fed’s decision boosted the dollar and bond yields.
Today’s Gold Rates in India (Per 10 Grams)
| Gold Type | Previous Rate (₹) | Current Rate (₹) | Change (₹) |
|---|---|---|---|
| 24K Gold | 64,200 | 62,290 | -1,910 |
| 22K Gold | 58,850 | 57,030 | -1,820 |
| 18K Gold | 48,150 | 46,720 | -1,430 |
(Note: Rates vary slightly across cities due to local taxes and making charges.)
Why Gold Prices Fell After the Fed Rate Cut
While interest rate cuts often support gold prices, this time the reaction was different. The market viewed the Fed’s decision as a short-term measure, pushing investors toward riskier assets like equities and bonds. The dollar strengthened, reducing gold’s appeal as a safe-haven asset.
Gold Prices in Major Indian Cities (Per 10 Grams – 24K)
| City | Today’s Price (₹) |
|---|---|
| Delhi | 62,300 |
| Mumbai | 62,290 |
| Chennai | 62,450 |
| Bengaluru | 62,280 |
| Kolkata | 62,310 |
Global Gold Market Reaction
On the international front, spot gold slipped below $2,250 per ounce, recording its steepest one-day decline in months. Investors expect further volatility as central banks worldwide adjust monetary policy in response to inflation data and economic growth trends.
Impact on Indian Investors
Indian investors who had recently flocked to gold ETFs and sovereign gold bonds are now witnessing short-term losses. However, experts suggest holding positions for long-term gains.
“India’s festive and wedding season demand could lend strong support to prices,” said Vizzve Finance analysts.
Outlook: Should You Buy Gold Now?
According to market strategists, this price dip could be a buying opportunity for long-term investors. Historically, gold has acted as a hedge against inflation and market volatility.
Vizzve Finance predicts moderate recovery over the next quarter as global uncertainty persists.
FAQs on Gold Rate Crash in India
1. Why did gold prices crash in India today?
Gold prices fell due to the US Federal Reserve’s interest rate cut, which strengthened the dollar and reduced gold’s safe-haven demand.
2. How much has gold dropped in India?
100 grams of gold fell by around Rs 19,100, or roughly Rs 1,910 per 10 grams for 24K gold.
3. Will gold prices rise again soon?
Analysts expect a recovery once global markets stabilize. Festive demand in India could also push prices higher in the short term.
4. Is this a good time to invest in gold?
Yes, experts consider the current dip a buy-on-dip opportunity for long-term investors.
5. How do city prices differ?
Gold prices vary slightly across cities due to local taxes, logistics, and jeweller margins.
Published on : 30th October
Published by : SARANYA
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