Gold, silver rates of October 29 in India: Check 24K, 22K, 18K gold and silver prices in your city - Full list

Gold, silver rates of October 29 in India: After three consecutive days of decline, gold prices steadied on Wednesday. The yellow metal is hovering near $3,950 per ounce in international bullion markets, according to a Bloomberg report.

In India, prices have fallen by over Rs 20,000 from the October 18 peak of Rs 1.41 lakh to around Rs 1.2 lakh per 10 grams of 24K gold today.

The recent movement in gold is largely driven by renewed optimism surrounding Donald Trump-Xi Jinping talks, with investors hoping for a major breakthrough that could ease ongoing trade tensions.

Gold's swift surge and subsequent pullback dominated discussions at the London Bullion Market Association's precious metals conference held this week in Kyoto, Japan. Despite the recent volatility, sentiment remained upbeat - a survey of 106 participants predicted that gold could approach $5,000 per ounce within the next year.
“Gold continues to print lower lows, but the bulls will take comfort from the defense of $3,900 in the front-month futures,” Chris Weston, head of research at Pepperstone Group Ltd was quoted as saying by Bloomberg. “There are now clearer signs that buyers are stepping in and that the recent positioning unwind may have run its course.”
Meanwhile, silver held steady after a modest rise in the previous session. Platinum slipped slightly, while palladium and the Bloomberg Dollar Spot Index remained largely unchanged. Spot silver was up 0.7% at $47.36 per ounce, platinum gained 0.4% to $1,593, and palladium advanced 1.7% to $1,417.22. From Rs 2 lakh per kg, the white metal has dropped to Rs 1.5 lakh today, Goodreturns data shows.