Gold and Silver Prices Continue to Fall After Diwali; Experts Predict Further Decline on October 23
Gold Prices Fall After Diwali: ₹4,000 Drop per 10 Grams, Silver Also Becomes Cheaper: Gold prices have been on a steady decline since Diwali, slipping further on October 21 as December futures on the MCX closed 0.21% lower at ₹1,28,000 per 10 grams. Silver also witnessed a 0.22% drop, settling at ₹1,50,000 per kg. The recent dip follows a surge in festive-season demand, after which the market is now experiencing mild selling pressure from investors taking profits.
Experts predict that gold and silver prices could fall further on October 23, following a sharp global downturn earlier in the week. Both metals touched record highs on October 17, 2025, before declining — with gold dropping nearly ₹4,000 per 10 grams and silver slipping around ₹20,000 per kg since then. Analysts, however, believe this phase may be short-lived as long-term fundamentals for precious metals remain strong.
According to Bloomberg, gold saw its biggest single-day fall in 12 years, plunging 6.3% intraday, while silver fell 7.1% on Tuesday. In the domestic market, gold bullion is currently priced at ₹1,28,040 per 10 grams in Mumbai, ₹1,28,000 in Pune, and ₹1,27,820 in New Delhi. Experts advise traders to stay cautious as volatility continues to dominate the bullion market amid global economic uncertainty.
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