Gold prices declined 1.2% to around ₹1.44 lakh per 10 grams, while silver slipped 0.9%, as precious metals came under pressure after a recent strong run.
New Delhi, October 22 — Gold and silver prices moved lower in the domestic market, with gold falling 1.2% to around ₹1.44 lakh per 10 grams and silver declining 0.9%, according to Akashvani News.
The decline came after a period of elevated precious-metal prices, with investors reassessing positions amid changing global market conditions.
Gold remains one of the most closely watched assets in India because of strong household demand, jewellery consumption and its role as a safe-haven investment during periods of global uncertainty.
Silver, meanwhile, is influenced by both investment demand and industrial consumption.
The latest decline indicates some profit booking after recent gains, although prices continue to remain at historically high levels.
Precious-metal prices in India are influenced by several factors, including international bullion prices, the rupee-dollar exchange rate, interest-rate expectations and geopolitical developments.
A stronger rupee can make imported gold relatively cheaper, while movements in US bond yields and the dollar can also influence global demand for bullion.
Domestic prices additionally reflect import costs and local market premiums.
Akashvani’s business update showed that gold was trading near ₹1.44 lakh per 10 grams, while silver also registered a moderate decline.
The fall comes at a time when global investors are closely tracking inflation, crude oil prices and monetary-policy expectations.
Higher interest rates can reduce the appeal of non-yielding assets such as gold, while geopolitical uncertainty generally increases safe-haven demand.
For Indian consumers, the movement is also significant because gold demand typically strengthens around the festive and wedding seasons.
Jewellers and bullion traders therefore continue to monitor whether the latest correction develops into a broader decline or remains a short-term consolidation after the recent rally.
