Gold down Rs 4,796, silver down Rs 16,503 in four days; silver slips below Rs 2 lakh

There is relief for those buying gold and silver in the festival season. According to data from the India Bullion and Jewellers Association (IBJA), prices of both metals have been falling steadily for the past four days. In this period gold has become cheaper by Rs 4,796 and silver by a full Rs 16,503.

Silver has been hit hardest by the four-day decline. After about 10 months, it has slipped below Rs 2 lakh again. On Thursday, a kg of silver was at Rs 2 lakh. It has fallen Rs 5,362 and is now at Rs 1.94 lakh. Silver had first crossed the Rs 2 lakh mark on December 17, 2025.

Gold of 24 carats has fallen Rs 1,064 to Rs 1.41 lakh per 10 grams. For comparison, on October 16 gold was at Rs 1.46 lakh and silver at Rs 2.10 lakh.

The gold and silver market has seen sharp swings this year. On January 29, silver touched an all-time high of Rs 3.86 lakh. Since that peak, silver has become cheaper by Rs 1.86 lakh. Gold has also dropped Rs 34,000 in the same period, giving buyers some relief.

According to IBJA, on Saturday, October 24, 24-carat gold is at Rs 1,41,630 per 10 grams. The rate for 22-carat gold is Rs 141,063 per 10 grams. Gold of 20 carats is available at Rs 129,733 per 10 grams. The price of 18-carat gold is Rs 106,223 per 10 grams, while 14-carat gold is at Rs 82,854 per 10 grams.

There is no difference in rates across cities. In Mumbai, Thane, Ratnagiri, Pune, Nagpur, Kolhapur, Chhatrapati Sambhajinagar, Jalgaon, Sangli and Baramati, 24-carat gold is priced at Rs 141,630 per 10 grams.

On Saturday, October 24, silver is priced at Rs 1,94,415 per kg, according to IBJA.