Nagpur silver falls below Rs 2 lakh a kg for first time this year, gold drops Rs 1,800

Gold and silver prices have come down in Nagpur during the festive season, bringing relief to buyers. For the first time this year, silver has fallen below Rs 2 lakh per kg. Gold has also dropped by Rs 1,800.

On Friday, October 23, gold fell to Rs 1,42,900 per 10 grams. Silver slid Rs 5,800 to Rs 1,99,000 per kg. The lower prices are expected to benefit customers buying during the festivals. However, where prices go from here will depend on conditions in the international market and on the activity of investors.

According to Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council (GJC), silver prices have swung sharply in 2026. In January silver was about Rs 4,11,000 per kg, and by October 23 it had fallen to Rs 1,99,000. Silver has thus become cheaper by Rs 2,12,000 per kg in about 266 days. The shift is being seen in the market as important for both investors and customers.

Month by month, silver stood at Rs 4,11,000 per kg at the end of January. It fell to Rs 2,96,078 in February and Rs 2,47,381 in March. The price was Rs 2,44,999 in April, while in May it rose to Rs 2,76,585.

In June silver fell again to Rs 2,14,704, and in July to Rs 2,09,857 per kg. It rallied in August to Rs 2,40,536. In September the price eased to Rs 2,19,830. On October 23, silver is at Rs 1,99,000 per kg.

Rokde said the fall in silver should also be seen as a market correction and profit-booking by investors. Industrial demand for silver remains, but global markets are under pressure from worries over inflation and economic slowdown internationally.

For now, it is difficult to say with certainty whether gold and silver will rise further or continue to fall. Buyers should check the latest rates before deciding.