Gold prices in India witnessed a slight decline on October 24, 2025, following a series of record highs earlier in the week. The drop comes as international bullion markets experienced profit booking, with investors capitalizing on recent gains amid a relatively stable dollar and easing global geopolitical tensions.
According to data from the India Bullion and Jewellers Association (IBJA), the average gold price fell by around Rs 200–300 per 10 grams across major Indian cities, depending on purity and local demand. Despite this correction, prices continue to hover near lifetime highs, indicating continued investor interest in the yellow metal.
In the national capital, Delhi, 24-carat gold was priced at around Rs 66,800 per 10 grams, while Mumbai reported prices near Rs 66,650 per 10 grams. In Chennai, gold stood at Rs 67,200, and in Hyderabad, prices were approximately Rs 66,700 per 10 grams. Silver prices also showed a mild decline, trading around Rs 83,500 per kilogram in most markets.
Market analysts attribute the recent dip to short-term profit booking after gold rallied sharply over the past few weeks. The rally was driven by a combination of global uncertainties, softening bond yields, and strong central bank purchases. However, as tensions in the Middle East and Eastern Europe showed signs of easing, traders opted to take profits, leading to a modest correction in prices.
Globally, spot gold traded around $2,340 per ounce, down 0.5% from the previous session’s highs. Meanwhile, U.S. Treasury yields stabilized, and the dollar index remained steady near 105. Analysts suggest that a firmer dollar often exerts downward pressure on gold prices by making it more expensive for non-dollar holders.
Despite the pullback, market experts believe that the long-term outlook for gold remains positive. Continued central bank buying, particularly by countries looking to diversify their reserves away from the U.S. dollar, is expected to provide strong support. Additionally, inflationary concerns and the likelihood of future rate cuts by major central banks could further boost gold demand.
Domestic demand in India, the world’s second-largest consumer of gold, is also expected to strengthen ahead of the festive season. With Dhanteras and Diwali approaching, jewellers are optimistic that retail sales will rise, supported by stable prices and positive consumer sentiment.
According to commodity strategist Anil Bhansali, “The current dip offers a healthy correction rather than a reversal. Investors and jewellers are likely to use this opportunity to accumulate gold ahead of the festive and wedding season.”
Experts recommend that long-term investors continue to hold their gold positions, as the metal remains a reliable hedge against inflation and global uncertainty. The short-term fluctuations, they say, are part of the normal market cycle following sustained rallies.
In summary, while gold prices have eased slightly from record levels, they remain supported by strong fundamentals and seasonal demand. The ongoing profit booking phase is likely temporary, and prices may stabilize or recover as the year-end demand picks up.
