The prices of gold and silver were under selling pressure on Friday, October 23, 2026, due to concerns about high crude oil prices, inflation, and interest rates in the US. These price changes have attracted the attention of buyers and investors who constantly monitor the gold and silver prices in India. The prices of both precious metals have been fluctuating. Silver prices in particular have been falling considerably for the past few days.
The price of gold is different from one city to another in India according to certain local influences. Gold prices in 24 carats in Delhi are around ₹1,43,130 per 10 grams, while the 22-carat gold price is ₹1,31,203. In Mumbai, the gold price is ₹1,43,370 per 10 grams for 24-carat gold, while that of 22-carat is ₹1,31,423. Gold prices in 24 carat in Kolkata are ₹1,43,180 and that of 22 carat gold price is ₹1,31,248 per 10 grams. The gold price for 24-carat gold in Chennai is ₹1,43,790, while the 22-carat gold price is ₹1,31,808 per 10 grams.
Silver prices were also quite volatile on October 23. Silver prices stood around ₹1,99,670 per kg in Delhi and ₹2,00,010 in Mumbai. Silver in Kolkata was available for ₹1,99,750 per kg, while Chennai reported around ₹2,00,600. Bengaluru and Hyderabad silver prices stood at around ₹2,00,170 and ₹2,00,330 per kg, respectively.
Several global economic factors have impacted the fluctuations in precious metal prices. Increase in crude oil prices has increased the inflation levels that may impact the expectations from interest rate decision. Impact of change in US dollar, bullion prices internationally and demand from investors also impacts the price of gold and silver in the domestic market. A recent market report suggests that both precious metals have declined significantly during the week, with comparatively more pressure on silver prices.
Customers intending to purchase gold jewellery or silver products need to verify the latest rates with the local jewellers before making any transaction. Making charges and taxes will impact the total buying rate of the product. It is also necessary to ascertain the purity and hallmark of the gold. Prices of these metals are volatile throughout the trading day.
