Gold and Silver Prices Drop Weekly:- Just ahead of the festive season, there has been a slight decline in the prices of gold and silver. Despite this drop, the price of gold remains at ₹146,426 per 10 grams. Indian women have a deep affinity for gold jewellery, and it is common to see many preferring to purchase such items during the festive season.
Given these factors, the rising cost of gold has dampened the market sentiment. If you are considering buying gold jewellery today, it is worth noting that during the Navratri period, the price of gold has decreased by over ₹3,000, while the price of silver has fallen by more than ₹10,000.
Amidst this decline in gold and silver prices, the way Indian investors approach gold purchases is also shifting. Rather than focusing solely on jewellery, people are increasingly investing in gold ETFs and digital gold. If you are planning to buy gold or silver this festive season, here is an update on the current, reduced prices.
Silver becomes cheaper by ₹10,000.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has fallen by ₹3,004 this week, bringing it to ₹1,46,426 per 10 grams—down from its previous level of ₹149,430 per 10 grams. Additionally, the price of 22-carat gold has decreased to ₹1,34,126 per 10 grams, compared to the earlier price of ₹136,878 per 10 grams.
Meanwhile, the price of 18-carat gold has dropped to ₹109,820 per 10 grams, down from ₹1,12,073 per 10 grams. Along with gold, the price of silver has also seen a decline this week. The price of silver has decreased by Rs 10,191, reaching Rs 2,10,918 per kilogram, down from its previous price of Rs 2,21,109 per kilogram.
Gold and Silver Prices Down
According to experts, rising crude oil prices are driving up the value of the US dollar, which in turn is putting pressure on gold and silver prices. Amidst concerns over rising inflation and the potential for higher interest rates, investors are opting to sell off their holdings.
In January 2026, gold was priced at approximately Rs 1.75 lakh per 10 grams. After a surge in August, domestic gold prices had dropped by 4.6% by September 11. This decline also reflected shifting expectations regarding the US Federal Reserve’s interest rate policy.
Silver Prices on the MCX
Silver (for the December 4 expiry) closed at Rs 2,11,418 per kilogram last Friday. In contrast, on the final trading day of the preceding week, the precious metal was trading at Rs 2,25,755 per kilogram on the Multi Commodity Exchange (MCX). Consequently, the price of silver has dropped by Rs 14,337 per kilogram.
How Much Has Silver Fallen from Its Peak?
Silver is now significantly cheaper than its all-time high. In January, the price of silver futures shattered all previous records, crossing the historic Rs 4 lakh mark and reaching a peak of Rs 4,20,048 per kilogram. Currently, the price of silver is Rs 2,08,630 per kilogram lower than its all-time high.
Gold price on MCX
In futures trading on the MCX on October 9, 24-karat gold (with a December 4 expiry) was priced at Rs 1,51,499; by last Friday, it had fallen to Rs 1,48,000. Gold became cheaper by Rs 3,499 per 10 grams.