Gold and silver prices in India declined on October 23, with investors booking profits after a volatile week. The 24-carat gold price 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 gold variant was priced at Rs 94,420 per 10 grams.

Silver also saw a correction, trading at Rs 1,60,000 per kilogram amid global profit-booking.

Reasons Behind the Decline

The recent dip in precious metal prices comes after one of the sharpest single-day declines in recent years. Analysts say the fall is mainly due to:

Profit-booking by investors after months of steady gains
Easing US-China trade tensions, which reduced safe-haven demand
Anticipation of a US Federal Reserve rate-cut decision later this week

These factors combined to weaken sentiment in the gold and silver markets, prompting short-term corrections.

Also Read: Sovereign Gold Bond vs Physical Gold: Which Shines Brighter in 2025?

Market Trends Over the Past Months

Gold has experienced steady gains over the past ten months, particularly in the last two months, driven by:

Geopolitical risks
Trade uncertainties
Strong safe-haven demand from investors

The metal even touched record highs before the current pullback, showing the ongoing appeal of gold as a long-term investment.

Investor Confidence Remains Strong

Despite the recent correction, gold ETF holdings remain near a three-year high, indicating persistent investor confidence in gold as a store of value.

Experts suggest that while short-term volatility is natural, gold and silver continue to be preferred options for portfolio diversification and long-term wealth preservation.

City-Wise Rates (October 23, 2025)

24-carat gold: Rs 1,25,890 per 10 gm
22-carat gold: Rs 1,15,400 per 10 gm
18-carat gold: Rs 94,420 per 10 gm
Silver: Rs 1,60,000 per kg

Investors are advised to track city-wise rates before making buying or selling decisions, as prices may vary slightly across regions.

Key Takeaways

Gold and silver prices declined on October 23 due to profit-booking and easing trade tensions.
24K gold stands at Rs 1,25,890 per 10 gm, while silver trades at Rs 1.60 lakh per kg.
Underlying investor confidence remains strong, with gold ETFs near a three-year high.
The current dip is seen as a short-term correction after months of gains, not a long-term trend reversal.

Conclusion

The fall in gold and silver prices today reflects short-term market adjustments rather than a loss of long-term value. Investors continue to view precious metals as safe-haven assets, and the recent correction may provide opportunities for those looking to enter the market at slightly lower levels.

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