Mumbai, October 20 (Udaipur Kiran): Ahead of Diwali, bullion markets witnessed a major correction on Monday, as silver prices plunged by more than ₹9,000 per kg, while gold prices also fell sharply by nearly ₹3,000 per 10 grams.
According to the India Bullion and Jewellers Association (IBJA), silver prices dropped by ₹9,130 to ₹1,60,100 per kg, compared to ₹1,69,230 per kg on Friday. Similarly, the price of 24-carat gold fell to ₹1,26,730 per 10 grams, down by ₹2,854 from ₹1,29,584 on the previous trading day.
The prices of 22-carat and 18-carat gold also recorded notable declines:
22-carat gold: ₹1,16,085 per 10 grams (down from ₹1,18,699)
18-carat gold: ₹95,048 per 10 grams (down from ₹97,188)
IBJA releases bullion prices twice a day — at 12 PM and 5 PM — reflecting real-time market movements.
The latest correction follows a volatile session last week, when global investors booked profits after U.S. President Donald Trump’s remarks about potential tariffs on Chinese imports triggered a brief sell-off in precious metals. Trump had stated that the proposed 100% tariffs on Chinese goods may not be sustainable, expressing optimism about improving ties with Chinese President Xi Jinping after an upcoming meeting in South Korea.
Interestingly, despite the decline in domestic markets, international prices of both gold and silver have shown upward momentum. On COMEX, gold rose 1.32% to $4,261 per ounce, while silver gained 1.31% to $50.77 per ounce.
So far in 2025, both precious metals have delivered strong returns to investors — with gold appreciating by over 50%, and silver delivering an impressive 70% gain.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
