Gold at Rs 1,41,630 per 10 gm, silver at Rs 1,94,415 a kg after a week of falling prices

Gold and silver prices have dropped considerably over the past week, bringing some relief to buyers. According to India Bullion and Jewellers Association (IBJA) data, the price of 24-carat gold has fallen by Rs 4,796 per 10 grams to about Rs 1.42 lakh. On October 17, gold was trading at around Rs 1.46 lakh.

Silver has also recorded a steep fall. The price per kg is down by Rs 16,503. The drop last week was particularly notable, with silver sliding from about Rs 2.11 lakh a kg to Rs 1.94 lakh. Investors, as well as people planning to buy jewellery, are watching the market closely. Although prices have come down, where the market goes from here will depend on international events and economic conditions.

This is not the first time gold and silver prices have fallen. Prices of both metals dropped sharply in September too. On August 31, gold was at Rs 1.56 lakh per 10 grams. By the end of the month, on September 30, it had fallen to Rs 1.48 lakh. Gold thus became cheaper by about Rs 8,000 in a month.

Silver followed a similar path. At the end of August it stood at Rs 2.37 lakh a kg, and by the end of September it had come down to about Rs 2.22 lakh. Silver prices thus fell by about Rs 15,000 in a month.

As for today's rates, according to IBJA, 24-carat gold was priced at Rs 1,41,630 per 10 grams on the morning of Monday, October 26. The other rates per 10 grams by purity are: 22-carat gold at Rs 1,41,063, 20-carat at Rs 1,29,733, 18-carat at Rs 1,06,223 and 14-carat at Rs 82,854.

Across the cities of Mumbai, Thane, Ratnagiri, Pune, Nagpur, Kolhapur, Chhatrapati Sambhajinagar, Jalgaon, Sangli and Baramati, 24-carat gold is priced at Rs 1,41,630 per 10 grams today.

Silver was priced at Rs 1,94,415 per kg on the morning of Monday, October 26, according to IBJA.