Gold Prices Decline Across Multiple Cities on October 23

Gold prices registered a decline across multiple cities in India, according to market data for October 23. The downward movement affected both 22-carat and 24-carat gold varieties, with standard price reductions observed across regions like Coimbatore, Nagpur, Visakhapatnam, Surat, Jaipur, Lucknow, Chandigarh, Indore, Madurai, Bhubaneswar, Patna, Ludhiana, Vadodara, Thrissur, Vijayawada, Kanpur, and Mysore.

Nationwide benchmark figures for 22-carat gold stood at ₹13,140 for 1 gram, marking a decrease of ₹175, and ₹1,05,120 for 8 grams, reflecting a decline of ₹1,400. Regional pricing varied slightly based on local market dynamics, but the downward trend remained consistent.

In southern markets such as Coimbatore, Visakhapatnam, Madurai, Thrissur, and Vijayawada, the price of 1 gram of 22-carat gold was recorded at ₹13,060, down by ₹175, with 8 grams priced at ₹1,04,480, down by ₹1,400. For 24-carat gold in these same cities, 1 gram stood at ₹13,713 (down by ₹184) and 8 grams at ₹1,09,704 (down by ₹1,472).

Meanwhile, cities like Nagpur and Indore reported 22-carat gold at ₹13,110 per gram, down by ₹175, and 8 grams at ₹1,04,880, down by ₹1,400. The 24-carat rate in Nagpur and Indore was ₹13,766 for 1 gram (down by ₹183) and ₹1,10,128 for 8 grams (down by ₹1,464).

In western and northern centers including Surat, Jaipur, Lucknow, Chandigarh, and Ludhiana, pricing for 22-carat gold 1 gram ranged between ₹13,160 and ₹13,164, registering a uniform drop of ₹175. Correspondingly, 8 grams of 22-carat gold in these regions dropped by ₹1,400 to settle around ₹1,05,280 to ₹1,05,312. The 24-carat 1-gram rate in Surat and Jaipur was recorded at ₹13,822 (down by ₹184), while Lucknow, Chandigarh, and Ludhiana saw 24-carat 1-gram prices at ₹13,818 (down by ₹184).

Eastern hubs Bhubaneswar and Patna noted 22-carat gold at ₹13,210 for 1 gram, down by ₹175, and ₹1,05,680 for 8 grams, down by ₹1,400. Their 24-carat rates stood at ₹13,871 for 1 gram (down by ₹183) and ₹1,10,968 for 8 grams (down by ₹1,464).

Finally, Mysore recorded the 22-carat gold price at ₹13,170 for 1 gram (down by ₹175) and ₹1,05,360 for 8 grams (down by ₹1,400), while 24-carat gold was priced at ₹13,829 for 1 gram (down by ₹183) and ₹1,10,632 for 8 grams (down by ₹1,464).

"Fluctuations in daily bullion prices are standard occurrences driven by broader commodity market movements. For retail consumers and businesses dealing in precious metals, tracking these regional adjustments offers useful visibility into localized pricing patterns. While small daily dips of ₹175 per gram do not fundamentally shift long-term asset strategies, they remain an important metric for short-term purchasing decisions." — Dr. Shishir Gupta, Founder & CEO, StartupLanes