Gold and silver prices took a big hit in India on October 23, 2025, as investors cashed in profits and global tensions eased. The fall marks one of the steepest single-day drops in recent times, with 24-carat gold sliding to Rs 1,25,890 per 10 grams and silver dipping to Rs 1,60,000 per kilogram, affecting buyers across major cities.
Current Gold and Silver Rates
Prices for precious metals cooled off after a strong run-up in recent months. This correction follows record highs touched just days ago, driven by safe-haven demand amid world events.
Gold buyers now see 24-carat options at lower levels, which could appeal to those planning festive purchases. Silver also followed the trend, offering some relief to industrial users and investors.
Experts note that such dips often create buying opportunities, but caution remains due to ongoing market swings.
City-Wise Price Breakdown
Rates vary slightly by location due to local taxes and demand patterns. Here is a snapshot of today’s prices for 24-carat gold per 10 grams in key cities:
| City | 24-Carat Gold (Rs per 10g) | Silver (Rs per kg) |
|---|---|---|
| Delhi | 1,26,040 | 1,60,150 |
| Mumbai | 1,25,890 | 1,60,000 |
| Chennai | 1,25,940 | 1,60,200 |
| Kolkata | 1,25,900 | 1,60,050 |
| Bengaluru | 1,25,850 | 1,59,950 |
| Hyderabad | 1,25,920 | 1,60,100 |
These figures come from major trading hubs and reflect morning trades. Prices can shift during the day based on market moves.
For 22-carat gold, which many prefer for jewelry, rates stand around Rs 1,15,400 per 10 grams in most areas. Always check with local dealers for the most accurate quotes.
Silver prices show similar patterns, with minor differences tied to transport costs and regional demand.
Reasons Behind the Price Fall
The drop stems from profit booking after gold surged over 49 percent in the past year. Investors sold off holdings as US-China trade talks showed signs of progress, reducing the need for safe assets.
Easing geopolitical risks, like calmer Middle East situations, also played a role. A stronger US dollar made gold less attractive for global buyers.
In India, the upcoming festive season usually boosts demand, but this correction might delay some purchases. Analysts point to the US Federal Reserve’s expected rate decision as a key factor that could sway prices further.
Local factors include import duties and currency fluctuations. The Indian rupee strengthened slightly against the dollar, adding pressure on import costs for gold.
Global Trends Impacting India
Worldwide, gold traded at about 4,093 US dollars per troy ounce, down 0.18 percent from the day before. This follows a 9.55 percent rise over the past month, showing the metal’s strong overall performance.
Silver mirrored the trend, with international prices cooling after recent peaks. Factors like industrial demand from tech and solar sectors keep silver relevant, but profit taking hit hard.
Recent events, such as improved trade optimism between major economies, have shifted investor focus away from metals. Yet, ongoing uncertainties, including elections in key countries, could spark renewed interest.
In comparison, other commodities like oil stayed stable, highlighting gold’s unique safe-haven status.
What to Expect Next
Looking ahead, prices might stabilize if global tensions rise again. Experts predict gold could rebound if the Federal Reserve cuts rates, making borrowing cheaper and boosting investments.
For Indian buyers, this dip offers a chance to buy before potential festive spikes. Keep an eye on exchange-traded funds, which hold near three-year highs, signaling long-term faith in gold.
Factors that could influence future prices include:
- US economic data releases this week
- Changes in central bank policies worldwide
- Shifts in investor sentiment toward stocks versus metals
Traders advise watching for support levels around Rs 1,24,000 for gold to gauge if the fall continues.
Advice for Buyers and Investors
This price correction serves as a reminder of market volatility. New investors should consider diversifying portfolios beyond just gold and silver.
Consult financial advisors for personalized strategies, especially with taxes and storage costs in mind. Long-term holders often benefit from holding through dips, as history shows gold’s value tends to rise over time.
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