Gold and silver prices recorded another decline on Friday, October 23, 2026, extending the recent downward trend in domestic bullion markets. The fall comes ahead of the festive and wedding seasons, when demand for precious metals typically attracts attention from buyers planning purchases for Karwa Chauth, Dhanteras and Diwali.
According to the latest rates released by the India Bullion and Jewellers Association (IBJA), 24-carat gold was priced at ₹1,41,448 per 10 grams, while silver fell to ₹1,95,027 per kilogram. Gold prices also remained under pressure in international markets, where bullion experienced a notable decline.
Why Are Gold and Silver Prices Falling?
International gold prices weakened on Thursday, reaching their lowest level in more than two weeks. Concerns about rising inflation, linked to higher crude oil prices, contributed to the pressure on the precious metal.
Spot gold declined by 2.2% to $4,051.55 per ounce, while US gold futures for December delivery fell by 2%.
The latest movement in global markets has coincided with lower domestic prices for both gold and silver. Buyers should keep in mind that bullion rates can change with market conditions and may vary across locations and jewellery retailers.
Gold Price Today: Latest IBJA Rates for Different Carats
The latest IBJA rates for gold of different purities on October 23, 2026, are listed below.
| Gold purity | Price per 10 grams |
|---|---|
| 24-carat gold | ₹1,41,448 |
| 23-carat gold | ₹1,40,882 |
| 22-carat gold | ₹1,29,566 |
| 18-carat gold | ₹1,06,086 |
| 14-carat gold | ₹82,747 |
These rates provide a reference for buyers comparing gold prices ahead of the festive season. The price of jewellery may differ depending on its purity, making charges and applicable taxes.
Silver Price Today in India
Silver also recorded a decline in the domestic market on October 23, 2026. According to the figures provided, the metal was priced at ₹1,95,027 per kilogram.
The fall in silver prices may be of interest to buyers considering silver coins, utensils and other silver products during the upcoming festivals. However, the final purchase price can vary depending on the seller and the applicable charges.
GST and Making Charges on Gold Purchases
The gold and silver rates published by IBJA do not include Goods and Services Tax (GST). For gold purchases, an additional 3% GST applies, increasing the final amount payable.
Jewellery buyers must also account for making charges, which are added to the gold price. As a result, the amount charged by a jeweller may be higher than the base rate published by IBJA.
Before making a purchase, customers should check the latest local rates, applicable taxes and making charges to understand the total cost.
Disclaimer
This article is intended for general informational purposes only. The prices mentioned are based on the IBJA rates provided for October 23, 2026, and may change with market conditions. Actual retail prices can vary by location, jeweller, purity, taxes and additional charges. Readers should verify the latest rates with reliable market sources or their jeweller before making any purchase or investment decision. This article does not constitute financial or investment advice.