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Gold-Silver Rate Update: Third Consecutive Drop in Gold Prices, Silver Also Turns Cheaper

After witnessing a sharp rally in recent weeks, gold and silver prices in India are now facing a steady correction. For the third straight day, gold prices have declined, while silver has fallen for the second consecutive session. Market experts attribute this softness to profit booking after a rapid surge around Diwali.

Here’s a complete update on the latest gold and silver prices in 10 major Indian cities, along with expert insights into what’s driving the market trend.

Gold Prices Continue to Slide

Gold prices, which had been on a remarkable upward trend before Diwali, have now cooled off. In the last three days alone, 24-carat gold has dropped by around ₹290 per 10 grams. Earlier, on Dhanteras (October 18), gold had already slipped by ₹1,910 per 10 grams, signaling a correction phase after the festive high.

As of October 22, 2025, the price of 24-carat gold has fallen by another ₹10 per 10 grams, while 22-carat gold is also cheaper by the same margin.

City-Wise Gold Rates (22K and 24K)

Let’s take a look at how gold prices are moving across India’s major cities today:

Gold prices remain almost uniform across most cities, with Chennai recording the highest rates, reflecting local demand and logistics costs.

Why Are Gold Prices Falling?

According to Anantha Padmanabhan, founder member and former chairman of the All India Gem and Jewellery Domestic Council (GJC), the recent dip is primarily due to short-term profit booking after an extended rally. However, he remains optimistic about gold’s long-term outlook.

He told news agency ANI that gold could touch a record ₹1.5 lakh per 10 grams in the coming months due to strong central bank buying, coupled with robust demand from China and Japan.

Global uncertainties—especially the ongoing Russia-Ukraine conflict and potential trade tensions between China and the US—could also push gold prices higher in the medium term. However, if the market witnesses short-term corrections, prices could briefly fall to around ₹1.15 lakh per 10 grams before rebounding.

Silver Prices Also Under Pressure

Silver prices have mirrored gold’s trend, turning weaker after a brief period of stability. In Delhi, silver dropped by ₹100 per kilogram today, following an earlier fall of ₹8,000 per kg the previous day.

Currently, silver is selling at ₹1,63,900 per kg in Delhi, while rates remain similar in Mumbai and Kolkata. Chennai, however, has the highest silver rate at ₹1,81,900 per kg, making it the most expensive among the four metro cities.

Market Outlook: Caution and Opportunity

Experts caution investors against chasing short-term rallies in precious metals. Wealth managers suggest that while the medium- to long-term outlook for both gold and silver remains positive, short-term corrections are likely due to global profit booking and shifting interest rate trends.

Brokerage firms like Motilal Oswal remain bullish, expecting gold to rise to ₹1.35 lakh per 10 grams and silver to potentially reach ₹2.30 lakh per kg in the next rally cycle.

Key Takeaway

Gold and silver prices in India are experiencing a short-lived correction after a powerful festive season rally. The trend reflects global economic sentiment and investor behavior. While the short-term movement may remain volatile, experts believe the long-term prospects remain strong, driven by central bank demand and global uncertainty.

Investors are advised to monitor prices closely and consult financial experts before making fresh investments in precious metals.