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Gold Prices Soar 63% Ahead of Festive Season

10/18/2025

23 2 Full Breakdown

Summary

Story summary

Gold prices rose to Rs 1,28,200 per 10 grams ahead of Dhanteras and Diwali, up 63% year over year.
The festive season spurred demand as buyers favor gold bars and coins over jewelry due to prices.
Retailers report higher foot traffic and a shift toward lighter designs.
Reserve Bank of India (RBI) has increased its gold reserves, boosting demand.
Despite high costs, gold's cultural significance maintains festive purchases.

History

Historical Context

The Gold Standard Act, signed by President William McKinley on March 14, 1900, established gold as the exclusive basis for U.S. currency, fixing the dollar's value at approximately $20.67 per ounce. This act followed decades of monetary debate, including the contentious 1896 election, and laid the groundwork for future monetary policies, influencing economic stability and cultural perceptions of gold, which remains significant today.

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Story summary

Gold prices rose to Rs 1,28,200 per 10 grams ahead of Dhanteras and Diwali, up 63% year over year.
The festive season spurred demand as buyers favor gold bars and coins over jewelry due to prices.
Retailers report higher foot traffic and a shift toward lighter designs.
Reserve Bank of India (RBI) has increased its gold reserves, boosting demand.
Despite high costs, gold's cultural significance maintains festive purchases.

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