India Gold Price Today, October 31, 2026: 24K, 22K and 18K Gold Rates Fall Sharply Ahead of Diwali

India Gold Price Today: Gold prices in India witnessed a significant decline on Saturday, October 31, 2026, bringing some relief to buyers ahead of the festive season and upcoming wedding period. The latest correction has attracted attention from jewellery buyers, investors and market participants as precious metal prices continue to experience volatility.

According to the latest reported rates, 24-carat gold is priced at approximately Rs 1,38,880 per 10 grams, while 22-carat gold is available at around Rs 1,27,300 per 10 grams. The 18-carat gold rate has also declined, providing a potentially attractive opportunity for customers planning jewellery purchases.

The latest fall comes after gold prices dropped significantly over the previous two trading sessions. According to market reports, 24K gold has declined by approximately Rs 5,070 over this period.

International bullion weakness, US inflation concerns and expectations surrounding Federal Reserve interest-rate decisions are among the factors influencing precious metal prices.

Here is a detailed look at the India gold price today, including 24K, 22K and 18K rates, city-wise prices, reasons behind the decline and what buyers should watch next.

Gold Rate Today in India: October 31, 2026

Gold prices declined across different purity categories on October 31. The correction has become particularly important for customers planning to purchase gold jewellery before Diwali and the upcoming wedding season.

Here are the reported indicative rates:

These rates are indicative retail-market figures and can differ between cities, jewellers and bullion pricing sources. GST and jewellery-making charges may be additional.

According to Goodreturns, the 24-carat rate declined by Rs 3,380 per 10 grams, while 22-carat gold dropped by Rs 3,100. The 18-carat category also registered a reduction of Rs 2,530 per 10 grams.

Why Are Gold Prices Falling in India Today?

The recent correction in gold prices has attracted attention because the yellow metal is traditionally considered a safe-haven investment during uncertain economic conditions.

However, international economic developments can influence bullion prices even when investors continue to seek protection against market volatility.

Several factors are contributing to the latest weakness.

1. US Inflation Concerns

One of the important factors influencing international gold prices is the outlook for US inflation.

Higher-than-expected inflation can make investors reconsider their expectations regarding monetary policy. If inflation remains elevated, the US Federal Reserve may maintain restrictive interest rates or consider further tightening.

Higher interest rates generally make interest-bearing investments more attractive compared with gold, which does not provide regular interest income.

This can create downward pressure on international bullion prices.

2. Federal Reserve Interest Rate Expectations

The US Federal Reserve’s monetary policy remains an important driver of global precious metal markets.

Investors closely monitor interest-rate decisions, inflation data, employment reports and economic growth figures.

When expectations of higher interest rates increase, gold can face selling pressure. On the other hand, expectations of rate cuts may support bullion because lower borrowing costs can reduce the opportunity cost of holding non-yielding assets.

3. International Gold Market Weakness

Gold prices in the international market also experienced pressure during the latest trading sessions.

Reports indicated that gold declined by more than 1%, while silver fell by over 2% amid concerns about inflation and the global interest-rate outlook.

Since India imports a substantial portion of its gold requirements, international price movements have a significant influence on domestic rates.

City-Wise Gold Price Today in India

Gold prices are not always identical across Indian cities. Differences in local taxes, transportation expenses, jewellery association rates and dealer premiums can affect the final retail price.

Here is a city-wise comparison of reported gold prices on October 31, 2026.

*Indicative reference figures, not independently confirmed jeweller quotations. Chennai and other city rates may vary by source. Verify the local rate before purchasing.

For example, Chennai’s gold rates can differ from those in Mumbai because of local market conditions and dealer pricing.

Customers should check the latest quotation from their preferred jewellery showroom before making a purchase.

24-Carat vs 22-Carat vs 18-Carat Gold: Which Should You Buy?

Understanding gold purity is important before purchasing jewellery, coins or investment products.

Different purity levels serve different purposes, and buyers should select the appropriate category according to their requirements.

For traditional wedding jewellery, 22K gold remains a popular choice. Customers looking for investment-oriented products often consider 24K coins or bars, while 18K gold is commonly selected for modern jewellery designs.

Silver Price Today in India

Along with gold, silver prices also experienced weakness in the latest bullion market movement.

According to the October 31 market report, silver was trading at approximately Rs 2,00,000 per kilogram.

Silver prices are influenced by investment demand, industrial consumption, international market movements and currency fluctuations.

The metal has significant applications in solar panels, electronics, electric vehicles and other industrial sectors. Therefore, changes in industrial demand can also affect its market valuation.

Will Gold Prices Fall Further in November 2026?

The direction of gold prices in November 2026 will depend on several domestic and international factors.

Although the latest correction has reduced purchasing costs, predicting the exact movement of gold is difficult.

There are several factors that investors should monitor.

US Federal Reserve decisions: Any change in interest-rate expectations could influence international bullion prices.

US dollar movement: A stronger dollar can put pressure on gold, while dollar weakness may provide support.

Central bank purchases: Demand from central banks can influence long-term gold market sentiment.

Indian festive demand: Diwali-related jewellery purchases and the wedding season could support domestic demand.

Rupee-dollar exchange rate: Since India imports much of its gold, rupee depreciation can increase domestic prices even when international rates remain relatively stable.

If global bullion prices remain under pressure, Indian buyers could see additional opportunities. However, a recovery in international prices or a weaker rupee could reverse the recent decline.

There is no guarantee that gold will become cheaper in November.

Is This the Right Time to Buy Gold in India?

The recent price decline may provide some relief to customers planning jewellery purchases. However, buying gold should depend on individual financial requirements rather than short-term price movements alone.

Here are some important points to consider before purchasing:

1. Compare jewellery prices: Check rates at multiple established jewellery stores before finalising your purchase.

2. Check BIS hallmarking: Look for the appropriate purity marking and HUID identification on hallmarked gold jewellery.

3. Understand making charges: Making charges can significantly increase the final jewellery bill.

4. Consider GST: A 3% GST is generally applicable to the value of gold jewellery.

5. Avoid emotional buying: A single-day price decline does not necessarily mean gold has reached its lowest level.

6. Consider investment goals: Gold can help diversify a portfolio, but it should not be treated as a guaranteed-return investment.

Customers purchasing gold for weddings or festivals should also compare buyback policies and exchange deductions before making a decision.

How Much Does 10 Grams of Gold Cost After GST?

Using the reported indicative rates, buyers can estimate the cost after adding 3% GST on the gold value.

These estimates exclude making charges and any applicable GST on those charges. Actual jewellery bills will be different depending on the design and jeweller.

Gold Price Outlook: What Should Investors Watch?

Gold remains an important asset for Indian households because of its cultural significance and role in financial diversification.

The October 31 correction highlights how quickly precious metal prices can change in response to global economic developments.

Investors should closely monitor international gold prices, Federal Reserve policy, inflation figures and currency movements.

For long-term investors, a disciplined purchasing strategy may be more useful than trying to predict the exact bottom of the market. Customers can also consider staggered purchases instead of investing their entire planned amount at once.

However, gold prices can move in either direction, and investors should understand the risks before committing money.

Conclusion

India gold price today, October 31, 2026, witnessed a significant decline across 24K, 22K and 18K categories. The 24-carat rate was reported at approximately Rs 1,38,880 per 10 grams, while 22-carat gold stood near Rs 1,27,300.

The latest correction comes amid international bullion weakness, US inflation concerns and changing expectations surrounding Federal Reserve interest rates.

For jewellery buyers, the decline could offer some relief ahead of Diwali and the wedding season. However, local prices, GST and making charges should always be checked before purchasing.

Going into November 2026, global economic developments and domestic festive demand will remain important factors influencing India’s gold market.