Gold prices inched up on October 1 even as September closed as a weak month for precious metals. In Mumbai, 24-karat gold rose ₹770 to ₹1,49,570 per 10 grams, while 22-karat gold stood at ₹1,37,100. In Delhi, 24-karat gold was priced at ₹1,48,940 per 10 grams.

Silver held steady, with prices unchanged in Delhi and Mumbai at ₹2,40,000 per kilogram. The white metal has been far less volatile than gold in recent sessions, finding support from industrial demand even as investment flows cooled.

September was a losing month for both metals: gold fell 4.69% and silver 4.00% over the month, as rising bond yields and a firm dollar dulled the appeal of non-yielding assets. Elevated US Treasury yields above 5% have pulled money towards fixed income.

Dealers say festive-season buying in India could lend support in the coming weeks, with Dhanteras and Diwali approaching. But with global rates staying high and geopolitical tensions simmering, analysts expect choppy trading rather than a one-way rally.