Gold Prices Tumble Post-Diwali: 24K, 22K, 18K Rates See Sharp Dip Today

Following a week of festive highs, gold prices across India witnessed a steep correction on October 22, reflecting a cooling trend in global bullion markets. The post-Diwali dip comes as traders booked profits after sustained buying during the festival season, which traditionally fuels a surge in gold demand.

Sharp Correction Across Karats

According to market data, 24K gold prices fell by nearly Rs 400 per 10 grams, settling around Rs 63,200, while 22K gold slipped to Rs 57,950. The 18K variant, often preferred for lightweight jewellery, was priced near Rs 47,350 per 10 grams. The drop marks one of the sharpest single-day corrections in recent weeks.

What’s Behind the Price Decline

Analysts attribute the correction to a combination of global and domestic factors. Internationally, spot gold prices eased as the U.S. dollar strengthened and bond yields rose, reducing the appeal of the yellow metal as a safe-haven asset. Domestically, festive buying momentum has slowed, leading to reduced retail demand from jewellers and investors alike. Commodity experts also point out that profit-booking post-Diwali is a seasonal phenomenon. 

Also Read: Gold Hits Rs 1.30 Lakh, Silver Soars to Rs 1.58 Lakh: Is It Time to Buy or Hold Off? | Republic World

City-Wise Gold Rates

As of October 22, 2025, gold prices across India showed slight declines compared to the previous day. In the domestic market, 24K gold was priced at Rs13,057 per gram, down Rs1 from the previous day. 22K gold was available at Rs11,969 per gram, reflecting a minor decrease of Rs1, while 18K gold (also referred to as 999 gold) was trading at Rs9,793 per gram, down Rs1 from yesterday.

Gold prices varied slightly across Indian cities. In Chennai, 24K, 22K, and 18K gold were priced at Rs13,092, Rs12,001, and Rs9,901 per gram respectively. Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Kerala, and Pune reported identical or near-identical rates of Rs13,057 (24K), Rs11,969 (22K), and Rs9,793 (18K) per gram. Vadodara and Ahmedabad showed marginally higher rates for 24K and 22K gold at Rs13,062 and Rs11,974 per gram. Specifically in Kozhikode, the prevailing rates aligned with the national standard: Rs13,057 per gram for 24K, Rs11,969 per gram for 22K, and Rs9,793 per gram for 18K.

Disclaimer: The views expressed in this article are purely informational, and Republic Media Network does not vouch for, promote or endorse any opinions stated by any third party. Stock market and Mutual Fund investments are subject to market risks, and readers are advised to seek expert advice before investing in stocks, derivatives and Mutual Fund