Gold rates inch up across India on October 16; 24K hits Rs 12,725 per gramme

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Fine Gold (999) is quoted at Rs 12,725 per gramme, while standard 22K trades at Rs 12,419. Lower purities are steady-to-firmer too: 20K at Rs 11,325, 18K at Rs 10,307, and 14K at Rs 8,207. These are all-India reference averages and typically exclude GST, making charges and local premiums passed on by jewellers.

How this compares with yesterday

Gold prices across purities have inched higher from yesterday, extending last week’s positive bias. The move isn’t large, but it keeps momentum on the front foot as festive buying and global risk support the floor.

Each purity has nudged higher day on day. Versus yesterday’s print of Rs 12,679 for 999 gold, today’s level is up Rs 46 per gram. The 22K quote is Rs 44 higher from Rs 12,375, 20K is up Rs 40 from Rs 11,285, 18K has risen Rs 37 from Rs 10,270, and 14K is Rs 29 stronger from Rs 8,178. On a 10-gram basis, that works out to roughly Rs 460 more for 999, Rs 440 for 22K, Rs 400 for 20K, Rs 370 for 18K and Rs 290 for 14K.

What’s driving the tone

The market is still riding a supportive mix of festive demand and global uncertainty, which tends to lift safe-haven interest. Wholesalers have been restocking into the season, while buyers looking for lighter, everyday pieces continue to show preference for 18K and 14K—both helped by the softer per-gram outlay. International cues remain a swing factor, but the domestic impulse has been strong enough to keep bids firm into the start of the week.

City-level variation and what you actually pay

Sticker prices differ by city and store because of local premiums, logistics and design complexity. A large metro outlet might quote a tighter per-gramme rate but add a higher making charge on intricate work; a neighbourhood shop could flip that equation. The invoice is what matters: check the day’s base rate, verify BIS hallmarking that matches the caratage, and separate gold weight from any stones or additional materials so your effective per-gram cost is clear.

For buyers and exchangers

If you’re buying fresh jewellery, today’s uptick adds a small premium to your budget, but the move is incremental rather than dramatic. If you’re exchanging or selling old jewellery, the firmer board works in your favour—especially if

your piece carries lower making-charge deductions on buyback. For coins and bars, compare buyback policies as closely as you compare prices; a percentage point here can be worth more than chasing a marginally lower quote elsewhere.