The prices of gold and silver fell in India on Monday, October 27, following a stronger US dollar and easing concerns over global trade tensions between the United States and China. The decline came after weeks of record highs, as traders anticipated more stable international markets in the coming months.
Gold and silver rates on MCX
On the Multi Commodity Exchange (MCX), gold December futures dropped 0.78% to ₹1,22,490 per 10 grams at 9:32 am, while silver December contracts fell 1.07% to ₹1,45,898 per kg.
According to data from the Indian Bullion Association (IBA), 24-carat gold was priced at ₹1,22,590 per 10 grams, while 22-carat gold stood at ₹1,12,374 per 10 grams. Silver (999 fine) was trading at ₹1,46,380 per kg.
Gold price trend over two decades
Over the last 20 years, gold prices in India have surged by nearly 1,200%, climbing from ₹7,638 per 10 grams in 2005 to over ₹1,25,000 in 2025.
Gold has delivered positive annual returns in 16 out of the past 20 years, establishing its reputation as a reliable hedge against inflation and market volatility.
So far this year, gold has gained around 56% year-to-date (YTD), supported by investor demand and global economic uncertainty.
Gold and silver prices across major cities (October 27)
Mumbai
- Gold bullion rate: ₹1,21,960/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,540/kg
- MCX silver rate: ₹1,45,438/kg
Pune
- Gold bullion rate: ₹1,21,960/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,540/kg
- MCX silver rate: ₹1,45,438/kg
Delhi
- Gold bullion rate: ₹1,21,790/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,330/kg
- MCX silver rate: ₹1,45,438/kg
Kolkata
- Gold bullion rate: ₹1,21,840/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,390/kg
- MCX silver rate: ₹1,45,438/kg
Ahmedabad
- Gold bullion rate: ₹1,22,160/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,770/kg
- MCX silver rate: ₹1,45,438/kg
Bengaluru
- Gold bullion rate: ₹1,22,180/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,45,930/kg
- MCX silver rate: ₹1,45,438/kg
Hyderabad
- Gold bullion rate: ₹1,22,280/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,46,050/kg
- MCX silver rate: ₹1,45,438/kg
Chennai
- Gold bullion rate: ₹1,22,440/10 gm
- MCX gold rate: ₹1,21,868/10 gm
- Silver bullion rate: ₹1,46,240/kg
- MCX silver rate: ₹1,45,438/kg
What investors should know
Jewellery buyers should note that retail prices vary across cities depending on local taxes, making charges, and GST, which can increase the final price above bullion rates.
Market analysts suggest that global currency fluctuations and expectations of reduced trade frictions could continue to weigh on gold prices in the short term. However, long-term sentiment for gold remains positive amid ongoing geopolitical uncertainties.
Conclusion
Gold and silver prices dipped slightly on October 27 after strong rallies earlier this year. While the yellow metal remains a popular investment and inflation hedge, its near-term performance could be influenced by dollar strength and global trade developments.