Gold and silver prices have been witnessing fluctuations over the past few days. Today, October 19, the price of silver has seen an increase; it has risen by Rs 1,408 to trade at Rs 212,595 per kilogram. The price of gold has also climbed by Rs 479, trading at Rs 148,397 per 10 grams. On COMEX, the price of gold is up by 0.46%, trading at $4,200 per ounce, while the price of silver has surged by 1.01% to trade at $57 per ounce. If you are planning to purchase gold or silver today, on the occasion of Navratri, be sure to check the current rates beforehand.

Today’s 22-carat gold price
On October 19, gold prices have remained largely stable across most cities in the country. In Delhi, the price of 24-carat gold is Rs 14,780 per 10 grams, while 22-carat gold is priced at Rs 13,549. Meanwhile, in Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, and Kerala, 24-carat gold is trading at Rs 14,765, and 22-carat gold at Rs 13,534 per 10 grams. In Chennai, the price of 18-carat gold is Rs 11,124, whereas in other cities, it is approximately Rs 11,073. 
City          24-Carat Gold            22-Carat Gold    18-Carat Gold
Delhi    ₹14,780                 ₹13,549                      ₹11,073
Mumbai    ₹14,765                    ₹13,534                        ₹11,073
Kolkata    ₹14,765                   ₹13,534                      ₹11,073
Bengaluru₹14,765                 ₹13,534                       ₹11,073
Hyderabad    ₹14,765    ₹13,534                           ₹11,073
Pune     ₹14,765      ₹13,534                         ₹11,073
Kerala    ₹14,765            ₹13,534                        ₹11,073
Chennai    —                 —                              ₹11,124

Silver Price
Today, the price of one kilogram of silver stands at ₹2,29,900 in most cities. This rate applies to Delhi, Mumbai, Kolkata, Lucknow, Patna, Jaipur, Ahmedabad, Pune, Bengaluru, Hyderabad, Bhopal, Chandigarh, Noida, and Gurugram. Only in Chennai is the price slightly higher, at ₹2,39,900 per kilogram.

What is supporting gold and silver prices?
Gold prices are being supported by demand for a "safe-haven" asset amidst global tensions. Investors are closely monitoring rising tensions around the Strait of Hormuz and other geopolitical risks. Furthermore, concerns regarding increased spending on infrastructure related to Artificial Intelligence (AI), combined with a sell-off in technology stocks, have heightened market uncertainty. In such an environment, some investors are turning toward safe-haven options like gold.

A decline in the yields on US government bonds has also provided support to gold prices. Gold does not earn interest; therefore, when the returns from bonds decline, the opportunity cost of holding gold also decreases. The retreat of the US Dollar Index from an 18-month high has also provided a boost to precious metals.

However, inflationary pressures remain a challenge for the rally in gold and silver. A sharper-than-expected rise in producer prices in the US has fueled concerns that the Federal Reserve might further tighten interest rates. If interest rates rise, interest-bearing investment options could become more attractive, which could, in turn, exert pressure on the demand for gold and silver.

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