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Massive hike in gold prices as Dasara approaches
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News18•09-10-2026, 12:15
Massive hike in gold prices as Dasara approaches
- •Gold prices witnessed a major surge on October 9, with 24-carat gold reaching Rs 1,50,710 per 10 grams in the Indian market.
- •The price of 10 grams of pure 24-carat gold increased by Rs 1,140, while 22-carat gold went up by Rs 1,050.
- •Intensifying Middle East crisis, rising crude oil prices, and global inflation are cited as the main reasons for the price hike.
- •The price hike ahead of the festive season has raised concerns for middle-class buyers planning jewelry purchases.
Key Questions Answered
The sudden price surge was driven by escalating Middle East crises, rising global crude oil prices, growing domestic and international inflation, and increased safe-haven demand from investors during the festive season.
On October 9, 2026, 24-carat gold reached ₹15,071 per gram or ₹1,50,710 per 10 grams, while 22-carat gold hit ₹13,815 per gram or ₹1,38,150 per 10 grams in the Indian market.
Prices crossing ₹1.50 lakh have placed a heavy financial burden on middle-class families, likely leading them to postpone jewelry purchases. Meanwhile, daily volatility has created uncertainty for short-term investors, even though long-term investors continue viewing gold as a safe-haven asset.
