Gold Prices Plummet: Festive Shopping Boon?

Gold prices continued their downward trend on Thursday, October 22, 2026, marking a significant decrease for consumers across India. Major metropolitan areas such as Delhi, Mumbai, Chennai, and Kolkata reported lower indicative rates for gold jewellery, according to announcements from the India Bullion and Jewellers Association Ltd. (IBJA).

This price adjustment, noted by prominent jewellers like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas, comes as a potential boon for individuals planning their purchases for the festive season. The reduction in rates offers a more accessible entry point for both jewellery acquisition and investment in gold.

Observing the data, a comparison between the morning rates on October 22, 2026, and the evening rates of October 21, 2026, shows a consistent decline across various gold purities, from fine gold to 14 KT. Silver prices also saw a substantial decrease during the same period.