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Gold Prices Skyrocket On Mahalaya Amavasya
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News18•10-10-2026, 12:11
Gold Prices Skyrocket On Mahalaya Amavasya
- •Gold prices have surged significantly on Mahalaya Amavasya, dealing a shock to festival and wedding shoppers
- •The weakening of the US dollar due to changing expectations of Federal Reserve interest rate hikes drove gold prices higher
- •In Bengaluru, the price of 24-karat gold reached 15,142 rupees per gram following the latest increase
- •Market experts warn that prices may rise further as demand surges with the upcoming festival and wedding season
Key Questions Answered
Expectations that the US Federal Reserve will raise interest rates in October have diminished, causing the value of the dollar to fall. A weaker dollar provides support to the prices of gold and other metals, driving the recent surge.
In Bengaluru, 24-karat gold is priced at ₹15,142 per gram or ₹1,51,420 for 10 grams, while 22-karat gold costs ₹13,880 per gram or ₹1,38,800 for 10 grams.
Market experts indicate that with the festival and wedding season approaching, demand is expected to increase, which will likely push gold rates higher in the coming days.
