Gold Price Crash: A sharp decline in gold prices was observed on October 22. For households preparing for weddings, this presents an excellent opportunity to purchase gold jewellery. Gold prices often surge during the wedding season or around festivals. With the festival of Karwa Chauth approaching—a time when women frequently purchase gold jewellery—many buyers are wondering: should they buy gold now, or will prices drop further by Diwali, or perhaps rise even higher?
Over the past month, gold prices have fallen by approximately 5 per cent. According to data from a bullion website, the price of 24-carat gold was recorded at ₹146,270 per 10 grams on October 21, 2026, while 22-carat gold was priced at ₹134,081 per 10 grams. For comparison, on September 21, 2026, the price of 24-carat gold stood at ₹153,780 per 10 grams. In the span of one month, 24-carat gold has become cheaper by approximately ₹7,510 per 10 grams.
On October 22, gold and silver prices saw a decline for the third consecutive trading day. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹1,411 to reach ₹142,694. Meanwhile, the price of one kilogram of silver dropped by ₹8,973 to ₹1,99,777. Let us take a look at the current prices for gold, ranging from 24-carat down to 14-carat.
24-Carat Gold
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has fallen by ₹1,411, reaching ₹142,694.
23-Carat Gold
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 23-carat gold has decreased, reaching ₹142,123.
22-Carat Gold
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 22-carat gold has decreased, reaching ₹130,708.
18-Carat Gold
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 18-carat gold has decreased, reaching ₹107,021.
14-Carat Gold
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 14-carat gold has decreased, reaching ₹83,476.
Will gold become cheaper by Diwali?
For 24-carat gold, the range of ₹1.44 lakh to ₹1.45 lakh per 10 grams acts as a key support level, while resistance may be observed around the ₹1.55 lakh mark. The ₹1.53 lakh level could also be significant for price trends leading up to Diwali. This suggests the possibility of a further decline in gold prices.