Gold and silver prices declined on Thursday, October 22, with losses reported in both international and domestic commodity markets. On COMEX, gold traded below $4,124 per ounce, while silver recorded a sharper decline. On the domestic Multi Commodity Exchange (MCX), gold futures for December delivery fell by approximately ₹1,300 to ₹1,44,797 per 10 grams. Silver futures declined by around ₹3,900 to approximately ₹2,05,302 per kilogram.
During morning trading on October 22, gold prices weakened in the international market. According to available market data, COMEX gold was trading at $4,124.70 per ounce, down approximately 0.61%. Silver registered a larger decline, falling around 1.78% to $56.680 per ounce on COMEX.
Changes in international gold and silver prices can affect the domestic market. However, the rupee exchange rate, import costs, local demand and applicable taxes also influence final prices in India.
Gold prices declined in the domestic futures market on Thursday. Gold futures for December delivery on MCX fell by approximately ₹1,300 to around ₹1,44,797 per 10 grams. Silver futures dropped by about ₹3,900 to ₹2,05,302 per kilogram.
Following the decline, traders continued to monitor price movements and international market signals.
Futures prices may differ from retail prices charged by jewellery stores. The final cost of jewellery can also include making charges, applicable taxes and other costs.
Available market data for October 22 indicated the following prices for different gold purities and silver:
24-carat gold was priced at approximately ₹1,45,070 per 10 grams, while 22-carat gold was quoted at around ₹1,32,981 per 10 grams. The indicative price of 18-carat gold stood at approximately ₹1,08,803 per 10 grams. Silver was priced at around ₹2,05,640 per kilogram.
Actual prices may vary across exchanges, cities and jewellery retailers. Buyers should verify the latest local rates and the final price quoted by their jeweller before making a purchase.
