Gold Prices Decline Across Multiple Cities on October 22

Retail gold prices across several cities in India declined on October 22 compared to the previous day's rates. The drop was observed across various regional markets, affecting both 22-carat and 24-carat gold variants.

Nationwide benchmark figures for 22-carat gold were recorded at ₹13,315 for 1 gram, marking a decrease of ₹155. For 8 grams of 22-carat gold, the price stood at ₹1,06,520, down by ₹1,240.

In regional markets such as Coimbatore, Madurai, Thrissur, and Vijayawada, 1 gram of 22-carat gold was priced at ₹13,235 (down by ₹155), while 8 grams cost ₹1,05,880 (down by ₹1,240). The 24-carat gold in these cities was priced at ₹13,897 for 1 gram (down by ₹163) and ₹1,11,176 for 8 grams (down by ₹1,304).

Cities like Nagpur and Indore reported 22-carat gold at ₹13,285 for 1 gram (down by ₹155) and ₹1,06,280 for 8 grams (down by ₹1,240). The 24-carat variant in these areas traded at ₹13,949 for 1 gram (down by ₹163) and ₹1,11,592 for 8 grams (down by ₹1,304).

Meanwhile, Surat, Jaipur, Vadodara, and surrounding commercial hubs saw 22-carat gold priced slightly higher at ₹13,339 per gram (down by ₹155) and ₹1,06,712 for 8 grams (down by ₹1,240). Corresponding 24-carat prices in these regions stood at ₹14,006 per gram (down by ₹163) and ₹1,12,048 for 8 grams (down by ₹1,304).

Other urban centres including Lucknow, Chandigarh, Ludhiana, and Kanpur registered 22-carat gold at ₹13,335 for 1 gram (down by ₹155) and ₹1,06,680 for 8 grams (down by ₹1,240), with 24-carat rates at ₹14,002 per gram (down by ₹163) and ₹1,12,016 for 8 grams (down by ₹1,304).

In eastern markets like Bhubaneswar and Patna, 22-carat gold was priced at ₹13,385 per gram (down by ₹155) and ₹1,07,080 for 8 grams (down by ₹1,240). The 24-carat gold in these cities reached ₹14,054 per gram (down by ₹163) and ₹1,12,432 for 8 grams (down by ₹1,304).

Mysore recorded slightly higher rates compared to other surveyed regions, with 22-carat gold priced at ₹13,345 for 1 gram (down by ₹155) and ₹1,06,760 for 8 grams (down by ₹1,240). The 24-carat gold in Mysore was valued at ₹14,012 for 1 gram (down by ₹163) and ₹1,12,096 for 8 grams (down by ₹1,304).

"Fluctuations in daily commodity prices, such as the observed downward correction in gold rates across various Indian cities, directly impact consumer purchasing behavior and local retail market dynamics. For businesses operating in the precious metals and jewelry sector, tracking these localized pricing adjustments is essential for managing inventory costs and maintaining competitive pricing strategies." — Dr. Shishir Gupta, Founder & CEO, StartupLanes