Gold and Silver Prices Fall in India Today, Oct 23

Gold prices in India continued their downward trend on Thursday, October 23, following one of the steepest single-day declines in recent years. The fall comes as investors booked profits amid easing US-China trade tensions and in anticipation of the US Federal Reserve’s expected rate-cut announcement later this week.

According to GoodReturns, 24-carat gold slipped to Rs 1,25,890 per 10 grams, while 22-carat gold fell to Rs 1,15,400 per 10 grams. The 18-carat variant was priced at Rs 94,420 per 10 grams.

The recent correction follows months of steady gains driven by geopolitical uncertainties, trade worries, and strong safe-haven buying. Over the past ten months, and particularly in the last two, gold prices surged sharply, hitting record highs before the current pullback.

Silver Prices Also Ease

Silver in India mirrored the gold trend, remaining soft in early Thursday trading after a decline on Wednesday. Prices stood at Rs 160 per gram or Rs 1,60,000 per kilogram, reflecting profit-booking and subdued global cues. Despite the recent dip, silver has posted a remarkable 70% rally in 2025, powered by strong industrial demand from electric-vehicle and solar-panel manufacturers and tightening global supply.

City-wise Gold and Silver Rates

Prices of precious metals vary slightly across regions due to logistics, local taxes, and demand.

Gold (per 10 grams)

Delhi: 24-carat – Rs 1,26,030 | 22-carat – Rs 1,15,540
Mumbai / Kolkata / Chennai: 24-carat – Rs 1,25,880 | 22-carat – Rs 1,15,390
Bengaluru / Hyderabad: 22-carat – Rs 1,15,390

Investors are keeping a close eye on global developments and the US Federal Reserve’s upcoming rate decision, which could influence gold and silver trends in the coming days.