Massive Crash in Gold, Silver Rates Today; 24K Falls Nearly Rs 21,000/100gm in Single Day in Delhi on 23 June

After a spectacular rally that added nearly Rs 21,200 per 100 grams of 24 Karat (24K) gold over the previous two sessions, precious metals witnessed a sharp reversal on Tuesday. Gold prices in the domestic market plunged by Rs 207 per gram for 24K gold and Rs 190 per gram for 22K gold, wiping out a significant portion of the recent gains.

Massive Crash in Gold, Silver Rates Today on 23 June 2026; Why Bullion is Falling

On June 23, 24K gold was priced at Rs 14,606 per gram, down from Rs 14,813 a day earlier, while 22K gold slipped to Rs 13,390 per gram from Rs 13,580.

Silver prices also came under heavy selling pressure. After touching the Rs 2.5 lakh-per-kg mark recently, silver in Delhi fell to Rs 245 per gram or Rs 2,45,000 per kilogram, reflecting the broader weakness in precious metals.

The decline mirrors the trend in international markets, where gold prices dropped more than 1% as a stronger US dollar and growing expectations of a US Federal Reserve rate hike reduced the appeal of non-yielding assets. Investors are also closely tracking developments in the ongoing US-Iran peace negotiations, while awaiting the US Personal Consumption Expenditures (PCE) inflation data later this week, which could provide fresh clues on the future path of interest rates.

According to Bloomberg, inflation concerns have begun to outweigh the initial optimism surrounding efforts to ease tensions in the Middle East. The prospect of central banks keeping borrowing costs higher for longer has dampened demand for safe-haven assets such as gold and silver, triggering a fresh bout of profit-booking in precious metals after their recent surge.

Gold Rate Today, 23 June 2026: Check Latest 22K, 24K & 18K Gold Prices in Delhi

24 Karat Gold Rate Today in Delhi

The price of 24K gold in Delhi fell sharply on June 23, reflecting a significant correction after the recent rally. One gram of 24K gold is now priced at Rs 14,606, down Rs 207 from the previous session. For larger quantities, 8 grams cost Rs 1,16,848, while 10 grams are priced at Rs 1,46,060. The price of 100 grams of 24K gold has dropped by Rs 20,700 to Rs 14,60,600.

22 Karat Gold Rate Today in Delhi

22K gold also witnessed a steep decline in line with the broader weakness in precious metals. The rate for 1 gram of 22K gold stands at Rs 13,390, down Rs 190. The price of 8 grams has slipped to Rs 1,07,120, while 10 grams are available at Rs 1,33,900. Meanwhile, 100 grams of 22K gold now cost Rs 13,39,000, marking a decline of Rs 19,000 from the previous day.

18 Karat Gold Rate Today in Delhi

The price of 18K gold in Delhi has also moved lower. One gram of 18K gold is currently priced at Rs 10,959, down Rs 155. The cost of 8 grams stands at Rs 87,672, while 10 grams are priced at Rs 1,09,590. For bulk buyers, 100 grams of 18K gold now cost Rs 10,95,900, reflecting a fall of Rs 15,500 compared to the previous session.

Silver Rate Today: Check Latest Silver Prices Per Kg and Gram on 23 June 2026

Silver prices in Delhi witnessed a decline on June 23 after recently touching the Rs 2.5 lakh per kilogram mark. The price of silver now stands at Rs 245 per gram, down Rs 5 from Rs 250 in the previous session.

For jewellery buyers and small investors, 8 grams of silver are priced at Rs 1,960, compared to Rs 2,000 a day earlier, reflecting a decline of Rs 40. Meanwhile, the cost of 10 grams has slipped to Rs 2,450 from Rs 2,500, a drop of Rs 50.

Bulk purchases have also become cheaper. The price of 100 grams of silver has fallen by Rs 500 to Rs 24,500, while 1 kilogram (1,000 grams) now costs Rs 2,45,000, down Rs 5,000 from Rs 2,50,000 recorded in the previous trading session.

Weakest Yen Since 1986 and Fed Rate Bets Dent Precious Metals Appeal

"Bullion prices remained under pressure as expectations of further Federal Reserve interest rate hikes boosted the U.S. dollar, reducing the appeal of non-yielding assets such as gold and silver. The dollar hovered near a 13-month high, supported by optimism surrounding initial U.S.-Iran peace talks, political uncertainty in the UK, and continued weakness in the Japanese yen, which remains near its lowest level since 1986," said Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.

"Meanwhile, easing concerns over Middle East supply disruptions have tempered inflation fears, though elevated energy prices continue to reinforce expectations of tighter monetary policy," she added.

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