Gold Price Today, October 22, 2026: Gold and silver prices have recorded a decline in the commodity market, attracting the attention of investors and jewellery buyers ahead of the festive shopping season. According to the latest figures cited in the market report, gold futures on the Multi Commodity Exchange (MCX) fell by ₹223 to ₹1,46,296 per 10 grams, while silver declined by ₹1,373 to ₹2,10,112 per kilogram.

International precious metal prices also showed weakness, with gold and silver trading lower in the global market.

However, consumers should remember that commodity exchange prices and jewellery shop rates are not identical. The final amount paid for gold or silver jewellery depends on purity, local market prices, making charges and applicable taxes.

Here is a detailed look at the reported gold and silver prices, the differences between 24K, 22K and 18K gold, and the factors influencing precious metal prices.

Gold and Silver Market Update: Latest Price Movements

The precious metals market witnessed a modest decline in the reported trading session.

According to the figures provided in the October 22 report, MCX gold futures slipped by ₹223 to ₹1,46,296 per 10 grams.

Silver futures also moved lower, falling by ₹1,373 to ₹2,10,112 per kilogram.

In international trading, gold on COMEX was quoted at approximately $4,139 per ounce, reflecting a decline of around 0.07%.

Silver was reported near $57 per ounce, down approximately 0.66%.

These figures indicate that both domestic and international precious metal markets experienced downward pressure during the period covered by the report.

However, prices can change throughout the trading day depending on market conditions.

24K, 22K and 18K Gold Prices in India

The source report provided the following indicative retail gold prices for October 21, 2026.

Important: These are the indicative rates quoted for October 21, not independently verified live prices for October 22. Actual jewellery prices may differ by city, seller and applicable charges.

Consumers should confirm the latest rates with a trusted jeweller before making a purchase.

What Is the Difference Between 24K, 22K and 18K Gold?

Gold is sold in different purity levels, and understanding these categories can help consumers choose jewellery according to their needs.

24 Karat Gold: This is the highest commonly marketed purity category, generally containing approximately 99.9% gold. It is widely associated with investment products such as coins and bars.

22 Karat Gold: This contains approximately 91.67% gold, with the remaining portion consisting of other metals. It is commonly used in traditional gold jewellery.

18 Karat Gold: This contains 75% gold and 25% other metals. It is frequently used in jewellery designs that require additional strength and durability.

Because the gold content differs, the price per gram also varies between these categories.

Buyers should check the purity marking and applicable hallmarking details before purchasing jewellery.

How Much Will 10 Grams of 22K Gold Jewellery Cost?

The price displayed for gold is generally not the final amount a customer pays for jewellery.

Jewellers may add making charges, and GST is applicable according to the relevant tax rules.

Consider an example using the reported 22K gold rate of ₹13,390 per gram.

For 10 grams, the basic gold value would be ₹1,33,900.

If the jeweller charges 12% for making the ornament, the calculation would be as follows:

Under this illustrative calculation, the total jewellery purchase would cost approximately ₹1,54,467.

This is only an example. Actual bills may differ depending on the jewellery design, making charges, wastage charges where applicable, and the tax treatment of the transaction.

Consumers should request a detailed invoice before completing the purchase.

Silver Price in India: What Is the Latest Reported Rate?

Silver prices also declined in the commodity market.

According to the report, MCX silver futures dropped by ₹1,373 to ₹2,10,112 per kilogram.

Meanwhile, the indicative retail silver price quoted for October 21 was approximately ₹230 per gram, equivalent to ₹2,30,000 per kilogram.

The difference between exchange-traded silver prices and retail rates reflects the fact that they represent different pricing arrangements.

Retail silver purchases may include additional charges depending on the product, seller and applicable taxes.

How Much Could 10 Grams of Silver Jewellery Cost?

Using the indicative silver price of ₹230 per gram, the basic cost of 10 grams would be ₹2,300.

If making charges are assumed at 12%, the estimated calculation would be:

Based on these assumptions, the approximate cost would be ₹2,653.

The final price could be higher or lower depending on the retailer and the type of silver product purchased.

Why Are Gold and Silver Prices Declining?

Gold and silver prices are influenced by several international economic developments.

One important factor is the movement of interest rates and government bond yields.

Unlike fixed deposits or bonds, physical gold does not provide regular interest income.

When bond yields increase, some investors may shift their money toward interest-bearing assets, which can reduce demand for gold.

Currency fluctuations can also influence precious metal prices.

Because international gold is generally quoted in US dollars, changes in the dollar's value can affect demand and pricing across global markets.

Other important factors include inflation expectations, central bank policies, geopolitical developments and investment demand.

Silver prices may also respond to industrial demand because the metal is used in several manufacturing and technology-related applications.

It is important to understand that short-term price declines do not necessarily indicate a long-term downward trend.

Is This a Good Time to Buy Gold or Silver?

A fall in precious metal prices may attract buyers who have been waiting for a more affordable entry point.

However, purchasing gold or silver solely because prices have declined may not always be the best approach.

Consumers buying jewellery for personal use should consider their budget, the purpose of the purchase and the total cost after additional charges.

Investors should also consider their financial goals, risk tolerance and investment horizon.

Gold prices can rise or fall unexpectedly, and no short-term market movement guarantees future returns.

Comparing rates from multiple reliable sellers can help buyers make more informed decisions.

Important Checks Before Purchasing Gold Jewellery

Before buying gold or silver, consumers should verify the purity and price of the product.

For gold jewellery, check the BIS hallmark and HUID details where applicable.

Buyers can use the official BIS Care application to verify eligible hallmark information.

It is also advisable to ask the jeweller about making charges, exchange policies and any deductions that may apply when selling or exchanging the jewellery later.

A proper purchase invoice should clearly mention the metal's weight, purity, price, making charges and taxes.

These precautions can help customers avoid confusion and understand the actual value of their purchase.

Conclusion

Gold and silver prices moved lower in the reported trading session, with MCX gold falling to ₹1,46,296 per 10 grams and silver declining to ₹2,10,112 per kilogram.

The source report also quoted indicative retail prices of ₹14,608 per gram for 24K gold, ₹13,390 for 22K gold and ₹10,956 for 18K gold.

Although lower prices may encourage jewellery purchases, buyers should compare current market rates and consider additional charges before making a decision.

Disclaimer: The figures in this article are based on the supplied October 21–22, 2026 market report and have not been independently verified as live quotations. Gold and silver prices fluctuate, and actual retail rates may vary. Readers should confirm current prices and applicable charges before purchasing.