Gold, silver fall for third straight day; silver slips below Rs 2 lakh after 10 months

The gold and silver markets saw a decline for the third consecutive day, with both precious metals recording a sharp fall in prices. Gold and silver rates have been fluctuating constantly, but over the last few days gold has been sliding while staying within a particular range.

According to data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by Rs 1,411 per 10 grams to Rs 1.43 lakh. Over the last three days, gold has become cheaper by about Rs 3,732 in all.

Silver has also fallen sharply. The price of a kilogram of silver dropped by Rs 7,006 to Rs 1,99,777. Over the last three days, silver has become cheaper by a full Rs 11,141.

Notably, silver crossed the Rs 2 lakh mark for the first time on December 17, 2025. Exactly 10 months later, silver prices have once again slipped below Rs 2 lakh.

Market experts say the Indian rupee is strengthening against the US dollar and crude oil prices have risen, and that this is why the gold and silver markets are weak. Earlier, in September, gold had fallen by Rs 8,000 and silver by Rs 15,000, which gave customers some relief.

According to IBJA, on the morning of Friday, October 23, 24-carat gold is at Rs 1,42,694 per 10 grams. The same morning, 22-carat gold is at Rs 1,42,123, 20-carat gold at Rs 1,30,708, 18-carat gold at Rs 1,07,021 and 14-carat gold at Rs 83,476 per 10 grams.

Among cities, the price of 24-carat gold is Rs 1,42,694 per 10 grams in Mumbai, Thane, Ratnagiri, Pune, Nagpur, Kolhapur, Chhatrapati Sambhajinagar, Jalgaon, Sangli and Baramati alike.

On silver, IBJA puts the price on the morning of Friday, October 23 at Rs 1,99,777 per kilogram.