Patna: Gold and silver prices fell sharply on Thursday, extending their recent losing streak amid reduced festive demand and easing global tensions. According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold dropped by Rs. 1,375 to Rs. 1,19,253, while silver fell by Rs. 1,033 to Rs. 1,45,600 per kilogram.
This marks a steep correction from their all-time highs on October 17, when gold touched Rs. 1,30,874 and silver Rs. 1,71,275. In just 13 days, gold has lost Rs. 10,246 and silver Rs. 25,675.
IBJA’s benchmark rates exclude GST, making charges, and jewellers’ margins, which cause slight variations across cities. These rates are also used by the Reserve Bank of India to set prices for sovereign gold bonds and by banks to determine gold loan values.
City-wise prices
As of October 30, gold prices stood at Rs. 1,20,640 (24 carat) in Delhi and Rs. 1,20,490 in Mumbai. Chennai recorded the highest price at Rs
1,21,090, while Patna and Ahmedabad both reported Rs. 1,20,540 per 10 grams of 24-carat gold.
Reasons behind the fall
End of festive buying: Demand for gold and silver has slowed after Diwali, leading to a natural correction.
Reduced global tensions: With geopolitical stress easing, investors are shifting away from safe-haven assets like gold and silver.
Profit-taking: Traders and institutions are booking profits after a sustained rally, with technical indicators showing overbought conditions.
Year-to-date gains remain strong
Despite the decline, both metals have recorded significant gains in 2025. Gold has risen tip Rs. 43,091 so far this year, from Rs. 76,162 per 10 grams on December 31, 2024, to Rs. 1,19,253. Silver has climbed by Rs. 59,583 during the same period.
Buying tips
Experts advise buyers to purchase only BIS-hallmarked gold and verify the current price and purity before making a purchase. Gold prices can vary significantly depending on caratage — 24, 22, or 18 carat.
