Gold Rate Today, October 23, 2026: Prices Fall Across India; Check 24K, 22K and 18K Rates
Gold prices in India continued to decline on Friday, October 23, 2026, following recent weakness in domestic and international bullion markets. Buyers tracking daily gold rates may find the latest movement important, particularly ahead of the festive and wedding seasons.
According to Goodreturns, 24-carat gold in Madurai was priced at Rs 14,437 per gram, while 22-carat gold stood at Rs 13,234 per gram. The reported 18-carat rate was Rs 10,834 per gram. Prices varied slightly across Indian cities, reflecting differences in local market quotations.
Gold Prices Remain Under Pressure
Gold prices faced selling pressure as investors assessed global economic uncertainty, rising crude oil prices and changing expectations about interest rates. Higher energy costs can increase inflation concerns and influence expectations about monetary policy.
International gold prices also weakened during the session. Changes in the value of the US dollar, bond yields and expectations about interest rate decisions can influence the attractiveness of gold, which does not generate interest income.
Investors also monitor geopolitical developments and demand for safe-haven assets when deciding whether to increase or reduce their gold holdings. These factors can cause sharp movements in prices over short periods.
MCX Gold Prices and Domestic Rates
Gold trading on the Multi Commodity Exchange of India provides an important indicator of domestic bullion market sentiment. According to market reports, MCX gold spot prices declined by nearly 1 per cent to around Rs 1,42,809 per 10 grams in the previous session. December gold futures were quoted at approximately Rs 1,43,303 per 10 grams in the reported trading snapshot.
MCX prices are not identical to retail jewellery prices. Exchange-traded contracts, indicative bullion rates and jewellery shop quotations may differ because of pricing methods, purity, taxes and other charges.
Buyers should therefore check the latest local quotation before making a purchase rather than relying solely on an exchange price.
Gold Rates in Major Indian Cities
Goodreturns listed the following indicative gold prices per gram on October 23, 2026.
| City24K Gold22K Gold18K Gold | |||
| Chennai | Rs 14,437 | Rs 13,234 | Rs 10,834 |
| Madurai | Rs 14,437 | Rs 13,234 | Rs 10,834 |
| Mumbai | Rs 14,437 | Rs 13,234 | Rs 10,828 |
| Delhi | Rs 14,452 | Rs 13,249 | Rs 10,843 |
| Bengaluru | Rs 14,437 | Rs 13,234 | Rs 10,828 |
| Hyderabad | Rs 14,437 | Rs 13,234 | Rs 10,828 |
| Kolkata | Rs 14,437 | Rs 13,234 | Rs 10,828 |
| Ahmedabad | Rs 14,442 | Rs 13,239 | Rs 10,833 |
Rates are indicative and may change during the day. The final price paid for jewellery can include making charges, applicable taxes and other retailer-specific costs.
Difference Between 24K, 22K and 18K Gold
Twenty-four-carat gold has a purity of approximately 99.9 per cent and is commonly used for investment products such as bars and coins. Twenty-two-carat gold contains approximately 91.6 per cent gold and is widely used in jewellery. Eighteen-carat gold contains 75 per cent gold, with the remaining portion made up of other metals.
The purity level affects the price per gram, making it important for buyers to compare rates on a like-for-like basis.
What Should Gold Buyers Watch Next?
Gold prices may continue to respond to international bullion movements, currency fluctuations, crude oil prices and interest rate expectations. Local demand and jeweller pricing can also affect retail quotations.
People planning to buy gold should confirm the day's price, verify the purity and hallmarking details, and ask for a complete bill showing the applicable charges.
Although falling prices may offer some relief to buyers, short-term price movements are difficult to predict. Consumers should compare rates from reliable sources and make purchasing decisions based on their needs and budget.
