Gold Rate In India Crash To Rs 1.2 Lk From Rs 1.32 Lkh Peak; Will Rally Return Post Fed Meet? 28 Oct Outlook

Gold Rate in India: Gold prices in India faced a double blow on Monday, October 27, slipping twice in a single day to fall below Rs 1,23,500 per 100 grams (24K), as per GoodReturns data. Barely ten days ago, the yellow metal was hovering near its record high of Rs 1,32,770 per 100 grams. As the US Federal Reserve meeting kicks off today, all eyes are now on how gold prices will move on Tuesday, October 28.

Gold rate in India is witnessing the much awaited correction after breaking back-to-back records for more than ten times in just a month. The domestic gold price movement is in alignment with the downward trend of international gold rates.

Gold Rate in India

The price of 24 karat gold in India declined by Rs 234 per gram to Rs 12,328 per gram on Monday, October 27. Likewise, the price of 22 karat gold in India fell by Rs 215 per gram to Rs 11,300 per gram. The rate of 18 karat gold in India on Monday dropped by Rs 176 per gram to Rs 9,246 per gram.

Silver Rate in India

The price of silver in India has also declined significantly on over the past one week. Silver rate in India stood at Rs 155 per gram and at Rs 1,55,000 per kilogram on Monday. Silver prices in India have witnessed significant volatility since the beginning of the year 2025. Silver price has surged by more than 70% in 2025 due to strong industrial demand and supply side constraints.

Gold, Silver MCX

Gold futures with December expiry declined significantly on Monday and closed at Rs 123451 per 10 gram. Whereas, silver futures with December expiry fell by 2.56% to Rs 1,47,4479 per kilogram. The international gold prices on Monday fell to $ 4,040 per ounce, according to Trading Economics.

Gold, Silver Price Outlook

The prices of gold and silver are likely to remain significantly volatile on Tuesday as investors will remain cautious ahead of the US Fed meeting and announcement. Meanwhile, other cues like US-China trade talks may also impact the gold buying sentiment. In the long-term gold continues to remain in the bullish territory.

"While gold may not replicate its stellar YTD 2025 performance next year, its upward trajectory is far from over. The rise has entered a phase of structural endurance rather than speculative exuberance. As for silver, history offers a fascinating perspective. Since 1980, it has touched the $ 50 per oz mark three times, each time retreating thereafter," noted Mahendra Patil, Founder and Managing Partner, MP Financial Advisory Services LLP (MPFASL) earlier this month.

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