Silver Rate Today/Gold Rate Today, October 23, 2026: Gold prices continue to slide after a sharp fall in the previous session. Check the latest 24K and 22K gold rates in Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad.
Gold prices remained under pressure on Friday after losing nearly 2% in the previous trading session, bringing some relief to buyers who have been tracking the precious metal’s recent price movements.
The price of 24-carat gold stood at Rs 1,43,630 per 10 grams, while 22-carat gold was quoted at Rs 1,31,661 per 10 grams, Silver was priced at Rs 2,00,380 per kilogram.
The latest weakness comes amid rising crude oil prices, inflation concerns and expectations that the US Federal Reserve could increase interest rates again before the end of 2026.
Gold Prices Fall Over 3% This Week
On Thursday, October 22, gold faced a sharp downfall, which saw the prices of the metal on the Multi Commodity Exchange (MCX) closing at Rs 1,43,309 per 10 grams, a drop of about 1.9% from its previous value.
As a result, the loss of the week stood at around 3.12%.
Silver saw a sharper decline. The price of MCX silver fell to Rs 1,99,599 per kg, with a drop of 4.6% on Thursday. The weekly loss was above 5.5%.
This development has once again attracted people to keep themselves updated with the daily rate of bullion metals, especially for those who are planning to make jewellery purchases.
Gold Rate Today: 24K and 22K Prices in Major Indian Cities
Gold rates vary slightly across Indian cities. Chennai recorded the highest quoted gold price among the six cities listed below, while Delhi had the lowest.
| City | 24K Gold (10 grams) | 22K Gold (10 grams) |
|---|---|---|
| Delhi | Rs 1,43,130 | Rs 1,31,203 |
| Mumbai | Rs 1,43,370 | Rs 1,31,423 |
| Chennai | Rs 1,43,790 | Rs 1,31,808 |
| Kolkata | Rs 1,43,180 | Rs 1,31,248 |
| Bengaluru | Rs 1,43,490 | Rs 1,31,533 |
| Hyderabad | Rs 1,43,600 | Rs 1,31,633 |
Indicative city-wise rates for October 23, 2026, in rupees per 10 grams.
The difference between the highest and lowest quoted 24-carat gold prices across these cities was Rs 660 per 10 grams.
For customers planning to purchase jewellery, these figures provide a price reference. The final bill may differ depending on the jeweller’s charges and applicable taxes.
Silver Rate Today: Prices Hover Around Rs 2 Lakh Per Kg
Silver prices also remained in focus after the metal slipped below Rs 2 lakh per kilogram in Thursday’s MCX trading.
The following are the quoted prices for 999-fineness silver across six major cities.
| City | Silver Price (1 kg) |
|---|---|
| Delhi | Rs 1,99,670 |
| Mumbai | Rs 2,00,010 |
| Chennai | Rs 2,00,600 |
| Kolkata | Rs 1,99,750 |
| Bengaluru | Rs 2,00,170 |
| Hyderabad | Rs 2,00,330 |
Chennai had the highest quoted silver price at Rs 2,00,600 per kilogram, while Delhi recorded the lowest at Rs 1,99,670.
Meanwhile, the quoted price of 925 sterling silver stood at Rs 1,85,352 per kilogram.
Why Are Gold and Silver Prices Falling?
The latest correction in precious metals comes against a backdrop of changing expectations about US interest rates.
Rising crude oil prices have renewed inflation concerns, strengthening expectations that the US Federal Reserve could raise borrowing costs again before the year ends.
These concerns have weighed on precious metals during the week.
International bullion markets also reflected the weakness. Comex gold declined approximately 0.6% to $4,037.60 per ounce, while Comex silver traded around $54.60 per ounce during the October 23 session.
The international movements add to the broader picture of a market facing pressure from inflation expectations and uncertainty over the direction of US monetary policy.
What Should Jewellery Buyers Keep in Mind?
The recent fall in gold prices may attract the attention of people considering jewellery purchases, but the market’s movement over the past week also highlights the importance of checking rates before buying.
A buyer comparing prices in Delhi and Chennai, for instance, would find a difference of Rs 660 per 10 grams for 24-carat gold in the quoted rates.
The price of gold is also only one part of a jewellery purchase. Customers should check the purity of the metal, hallmarking details, making charges and the final payable amount before making a decision.
For buyers watching whether prices will decline further, the latest figures do not establish how gold or silver will move in the coming sessions.
Gold Price Outlook: What Comes Next?
Gold’s weekly decline of 3.12% and silver’s fall of more than 5.5% underline the pressure facing precious metals.
The immediate focus remains on crude oil prices, inflation concerns and expectations surrounding the Federal Reserve’s next interest-rate decision.
For Indian consumers, Friday’s rates offer a lower price reference than the levels seen before the week’s correction, although the available figures do not establish a sustained downward trend.
Whether the decline continues will depend on how market conditions develop in the coming sessions.
Also Read: US Stock Market Crash 2026: Warren Buffett’s Advice as Valuations Hit Dot-Com Bubble Levels
