Gold and silver prices are falling ahead of Dhanteras and Diwali. Rising crude oil prices and inflation concerns, coupled with geopolitical tensions in West Asia, are weighing on them.
Gold and silver prices fall today too.
Gold and silver prices are also seeing a decline today. Compared to yesterday, October 22nd, the price of gold per 10 grams is seeing a significant drop, ranging from Rs 1,110 to Rs 1,690 on October 23rd.
What is the price of gold today?
While the price of 24-carat gold was ₹146,070 per 10 grams yesterday, it is ₹144,530 today, representing a direct drop of ₹1,540. Similarly, the price of 22-carat gold , which was ₹133,890 per 10 grams yesterday, has fallen by ₹1390 to ₹132,500 today. 18-carat gold has also fallen by ₹1,110 today, to ₹108,440, compared to ₹109,550 yesterday.
What is the price of silver today?
Today, October 23, 2026, silver prices are seeing a sharp decline in the country's bullion markets. Silver has fallen by up to ₹5,000 compared to yesterday. The current price of silver per kilogram is ₹225,000. The price of 100 grams of silver is ₹22,500.
Why are prices falling?
Gold is traditionally considered a safe-haven investment during times of geopolitical uncertainty. However, rising crude oil prices are also fueling concerns about inflation, which is strengthening the likelihood that interest rates will remain high.
According to CNBC TV18, Ashish Rajodia, Head of Commodities at PL Capital, said, "Gold is caught between geopolitical uncertainty and concerns about higher interest rates. Rising crude oil prices have reignited inflation concerns. Meanwhile, the US Federal Reserve's tightening stance, rising bond yields, and a strong dollar are reducing the attractiveness of investments like gold and silver. Silver is under additional pressure because rising borrowing costs are expected to negatively impact industrial demand."
Gaurav Garg, Research Head at Lemonn, also said that gold and silver are facing selling pressure as rising crude oil prices have renewed inflation concerns. Furthermore, expectations have strengthened that US interest rates may remain high for a longer period. He further explained that the market is closely monitoring the US Federal Reserve's meeting on October 27-28 and upcoming US inflation data. Gold and silver prices in India are influenced by the rupee-dollar exchange rate, prevailing rates in international markets, import costs, and taxes.
