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:
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Profit-booking by investors after months of steady gains
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Easing US-China trade tensions, which reduced safe-haven demand
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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:
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Geopolitical risks
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Trade uncertainties
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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)
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24-carat gold: Rs 1,25,890 per 10 gm
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22-carat gold: Rs 1,15,400 per 10 gm
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18-carat gold: Rs 94,420 per 10 gm
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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
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Gold and silver prices declined on October 23 due to profit-booking and easing trade tensions.
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24K gold stands at Rs 1,25,890 per 10 gm, while silver trades at Rs 1.60 lakh per kg.
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Underlying investor confidence remains strong, with gold ETFs near a three-year high.
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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.
