The decline in gold and silver prices continues. The price of silver has fallen to a level last seen on March 23, 2026. Meanwhile, gold prices are also continuing to trend downward. On October 15, the price of 24-carat gold in Delhi was recorded at ₹1,48,400 per 10 grams. The strengthening of the rupee and shifts in the international market are considered the primary reasons behind this decline in prices.
Silver at a 6-month low on the MCX
On the Multi Commodity Exchange (MCX), the price of silver has reached ₹2,09,560 per kilogram. According to available data, the last time silver was priced below this level was on March 23, 2026—a fact that highlights the extent of the recent drop in silver prices. Gold is also facing downward pressure; on the MCX, it is currently trading at ₹1,47,515 per 10 grams.
Why is gold becoming cheaper?
The prices of gold and silver depend on both domestic market conditions and international factors. A stronger rupee makes it relatively cheaper to import gold and silver, which exerts downward pressure on prices within the domestic market. The Reserve Bank of India (RBI) recently implemented several measures aimed at strengthening the rupee. In the international market, spot gold was trading at $4,083.94 per ounce.
