Gold rate on October 9: Why buyers may pay more this festive season

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If you’ve been waiting to buy gold this festive season, the momentum suggests prices may stay firm in the near term. The yellow metal, always in demand during festivals and weddings, is once again flashing signs of strong buying interest. As of October 9, 2025, 24-carat gold in India is priced at around Rs 12,257 per gramme, while 22-carat is near Rs 11,963. The 20-carat rate stands at Rs 10,909, 18-carat has inched up to Rs 9,928, and 14-carat is quoted at Rs 7,906 per gramme, according to the India Bullion and Jewellers Association. These are base rates and exclude GST or making charges.

So what’s driving this momentum? Why are buyers chasing the yellow metal so aggressively?

Global uncertainty and safe-haven demand

Investors are increasingly unsettled about global economic conditions—expectations of US rate cuts, a weakening dollar, and worries about political instability are all pushing money into gold. Gold tends to benefit in times of uncertainty as a store of value.

Domestic demand and seasonal buying

Here in India, the festive season (Diwali, weddings) usually brings large demand for gold jewellery and gifts. That seasonal buying pattern is reinforcing the rally. Also, many buyers expect further upside, making them push purchase decisions earlier.

Inflows into gold ETFs

It’s not just physical gold that’s seeing interest—India’s gold ETFs are attracting record inflows. Many investors find ETFs a more convenient route to exposure without the hassles of handling physical gold. The rising AUM in these funds reflects shifting investor preferences.

Currency pressure and import costs

A weaker rupee makes gold imports costlier, which puts upward pressure on domestic gold prices. Since India is a net importer of gold, currency fluctuations directly influence what buyers here eventually pay.

What this means for buyers and sellers

For prospective buyers, it raises the question: should you buy now or wait for a correction? Timing is tricky. Price corrections are always possible—especially if inflation data surprises or central banks tighten unexpectedly. But for long-term investors, the trend is reinforcing gold’s role as a hedge.

For sellers or those holding big physical positions, this may be a good time to trim. If you’ve already seen significant gains, locking in some profits while leaving a portion invested may be a balanced approach.