New Delhi: Gold and silver prices have declined sharply during September and October, offering potential relief to consumers planning jewellery purchases for the festive and wedding seasons.
According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell from around ₹1.55 lakh on August 31 to approximately ₹1.41 lakh on October 23, a drop of nearly ₹14,000 in less than two months.
Silver prices have also recorded a significant decline. The metal has become around ₹43,000 cheaper per kg over the past two months and has fallen by approximately ₹1.92 lakh over nine months. Silver reached a record high of ₹3.86 lakh per kg on January 29, 2026.
Gold prices had risen sharply earlier this year. From around ₹1.33 lakh per 10 grams on December 31, 2025, the price climbed to approximately ₹1.76 lakh on January 29, 2026. Since then, prices have moved lower, with gold now around ₹34,000 below its January peak. The metal has also declined by nearly ₹4,000 over the past week.
The fall has drawn the attention of consumers planning purchases for festivals and weddings. However, it remains difficult to predict whether prices will fall further or recover in the coming weeks.
Buyers are advised to consider their requirements and budgets rather than delaying purchases solely in the hope of further price cuts. Those buying gold for the long term may consider purchasing in stages instead of investing the entire amount at once. Jewellery buyers should also compare making charges and other costs alongside the prevailing gold rate.
