Gold Rate Today: 24K Gold at ₹1,44,060 per 10g on October 21, Down ₹2,346

IBJA specifies gold rates per 10 grams and silver per kilogram. The benchmark rates are quoted before 3% GST and making charges.

How Much Did Gold Fall Today? 

The October 21 AM rate for 999-purity gold was ₹1,44,060 per 10 grams compared with ₹1,46,406 on October 19. 

The absolute decline was: 

₹1,44,060 - ₹1,46,406 = -₹2,346 

The percentage change was: 

(-₹2,346 / ₹1,46,406) × 100 = -1.60% 

Silver recorded a slightly larger percentage decline. The AM silver benchmark fell by ₹3,617 per kg from ₹2,09,467 to ₹2,05,850, equivalent to about 1.73%. 

What Is Driving Gold Prices? 

Domestic gold prices are influenced by a combination of international bullion prices and the rupee's exchange rate against the US dollar. 

International gold was trading near $4,118 per troy ounce during October 21, with the global benchmark modestly lower during the session. 

Global bullion markets were also assessing monetary-policy expectations, movements in interest rates and the US dollar, alongside geopolitical developments. These variables affect the opportunity cost and currency translation of gold, although no single factor should automatically be treated as the sole explanation for a day's domestic price movement. 

What Can Lower Gold Prices Mean for Indian Markets? 

Jewellery Companies 

Gold is a major raw-material and inventory component for jewellery businesses. A lower benchmark price reduces the nominal value of an equivalent quantity of newly purchased gold. 

It can therefore reduce the amount of working capital required to finance the same physical volume of inventory, all else being equal. The actual financial impact depends on inventory timing, hedging arrangements and the extent to which raw-material price changes are passed through to customers. 

Consumer Demand 

For consumers buying a fixed quantity of gold, the October 21 AM benchmark was ₹2,346 lower per 10 grams than the previous comparable AM rate. 

For example, before GST and making charges, 100 grams of 999-purity gold represented a benchmark cost reduction of ₹23,460 compared with the October 19 AM fixing. 

This changes the rupee cost of a fixed quantity but does not by itself determine jewellery demand, which is also affected by incomes, festive and wedding demand, exchange rates and consumer preferences. 

Gold Imports 

India imports a substantial portion of the gold consumed domestically. For an unchanged import volume, a lower international gold price can reduce the dollar value of those imports. 

The eventual rupee cost also depends on USD/INR and other import-related costs. Changes in the value of gold imports can feed into India's merchandise trade balance and foreign-currency demand. 

Gold-Loan Businesses 

Gold prices affect the value of collateral pledged against gold loans. 

When benchmark gold values decline, the assessed collateral value for a fixed quantity and purity of gold can also decline. The amount that can be lent against the collateral is additionally governed by applicable loan-to-value rules and lender-specific valuation practices. 

Broader Markets 

Gold is tracked across currencies, interest rates, inflation expectations and global risk conditions. Changes in gold prices can therefore provide cross-asset context, but a decline or rise in gold does not mechanically determine the direction of Indian equities or other asset classes.