Gold Down About Rs 3,000 and Silver Up to Rs 9,000 Cheaper in 3 Days! 10 g Gold at Rs 1.43 Lakh, Silver at Rs 2.01 Lakh, Latest Rates: Gold Rs 1.41 Lakh, Silver Rs 1.94 Lakh
Gold and silver prices have kept falling. As per the India Bullion and Jewellers Association (IBJA), rates fell for the third straight trading day on 22 October. 10 g of 24-carat gold dropped Rs 953 to about Rs 1.43 lakh and a kilo of silver dropped Rs 8,002 to Rs 2.01 lakh. In three days gold became cheaper by about Rs 3,000 and silver by about Rs 9,000.
Gold-Silver Rates at a Glance
| Date and source | 24-carat gold (10 g) | Silver (per kg) |
|---|---|---|
| 22 October (IBJA) | About Rs 1.43 lakh (down Rs 953) | Rs 2.01 lakh (down Rs 8,002) |
| 23 October (MCX, at open) | Rs 1,42,240 (down 0.74%) | Rs 1,94,842 (down 2.38%) |
| 26 October (IBJA) | About Rs 1.41 lakh (down Rs 340) | About Rs 1.94 lakh (up Rs 635) |
Why Prices Fell
- A stronger rupee against the dollar made imported gold and silver cheaper.
- Rising crude oil prices affected precious metals.
- The US Federal Reserve meeting and global economic signals kept the international market weak.
- On 23 October on COMEX gold fell about 1.10% to 4,015.70 dollars an ounce and silver about 2% to 53.90 dollars an ounce.
- After 22 October gold became cheaper still till 26 October, while silver showed a slight rise.
Precautions While Buying Gold and Silver
- Always look for the BIS hallmark and the 6-digit HUID code. It is the official proof of gold's purity.
- Check the IBJA/local rate on the day you buy and compare with the jeweller's rate.
- Making charges and GST are extra, so ask for the full bill beforehand.
- The bill should clearly state purity (carat), weight and rate, and always take the bill.
- Before selling or exchanging old jewellery, know the 'buyback' and deduction terms.
- Do not pay large sums in cash; pay by bank or UPI.
City Retail Rates (as per one report, 22 October)
| City | 24-carat gold (10 g) |
|---|---|
| Delhi | Rs 1,44,530 |
| Mumbai | Rs 1,44,380 |
| Ahmedabad | Rs 1,44,430 |
Important Links
Frequently Asked Questions (FAQ)
What were gold and silver rates on 22 October?
As per IBJA, 24-carat gold about Rs 1.43 lakh (10 g) and silver Rs 2.01 lakh per kg.
How much did prices fall in three days?
Gold about Rs 3,000 to Rs 3,600 and silver Rs 9,000 to Rs 10,100, depending on the source.
What is the latest rate on 26 October?
As per IBJA, gold about Rs 1.41 lakh and silver about Rs 1.94 lakh.
Why did prices fall?
A stronger rupee, rising crude oil and global signals.
Note: This is based on news reports and public government information. Dates, amounts and rules can change, so please confirm with the official website or the concerned office before acting. Emitrawala.com is not a government website.
