Let’s talk about that headline: “Good News? Gold Prices Dropped on October 27 in India – Could Be a Smart Time to Buy!” Gold’s a bit cheaper today, so it might be a good chance to buy, whether you’ve been buying gold for years or are just thinking about starting. The price of gold (both 24 and 22 carat) and silver are down in most big cities in India, which could mean it’s time to rethink how you want to buy or put money into gold.
What the Market Looked Like on October 27
On Monday, October 27, the price of metals went down a bit in India:
Gold for December delivery on the MCX went down around 0.78 %, ending at ₹1,22,490 per 10 grams.
Silver for December went down about 1.07 %, hitting ₹1,45,898 per kg.
The Indian Bullion Association (IBA) said that at 9:40 am, 24-carat gold cost ₹1,22,590 per 10 grams, and 22-carat cost ₹1,12,374 per 10 grams. These price drops aren’t huge, but they matter because gold has been pretty expensive lately.
Prices in Different Cities (October 27)
Here’s a look at metal prices in major cities:
- Mumbai: ₹1,21,960/10 grams; MCX benchmark ₹1,21,868/10 grams. Silver ₹1,45,540/kg; MCX Silver ₹1,45,438/kg.
- New Delhi: ₹1,21,790/10 grams; MCX benchmark the same as above. Silver ₹1,45,330/kg.
- Kolkata: ₹1,21,840/10 grams; silver ₹1,45,390/kg.
- Bengaluru: ₹1,22,180/10 grams; silver ₹1,45,930/kg.
- Chennai: ₹1,22,440/10 grams; silver ₹1,46,240/kg.
- Hyderabad: ₹1,22,280/10 grams; silver ₹1,46,050/kg.
- Ahmedabad: ₹1,22,160/10 grams; silver ₹1,45,770/kg.
(Keep in mind: These are basic prices. What you actually pay might be different because of making charges, taxes, GST, and other local fees.)
Why Are Prices Going Down?
A few things are making gold and silver prices dip a bit today:
- The US dollar is getting stronger, which usually makes gold cost less in rupees because it’s more pricey in other currencies.
- People think that the US and China might start getting along better on trade, so they’re not as worried and don’t need to buy safe investments like gold as much.
- Some people who study the market think gold might be traded less in the short-term.
What This Means for You
- If you’re buying jewellery or bars: This could be a decent chance to get a better price. If you’ve been waiting for the right time, now might be it.
- If you’re investing: If you already own gold or silver, you might want to buy a bit more or sell some to make a profit. If you’re just starting out, this could be a calmer way to get into the market.
One word of warning: Prices are still fairly high compared to usual. And remember to factor in extra costs like making charges and taxes – the final price will be higher than what you see in the headlines.
To Sum Up
The gold price drop on October 27 isn’t a huge deal. But it’s a pause in what’s been a pretty strong time for gold. So, if you’re thinking about buying or investing, it might be smart to take a look now and see if makes good sense.
Frequently Asked Questions (FAQs) on Gold Prices Drop – October 27
Q1. Why did gold prices drop again on October 27?
Gold prices dropped on October 27 due to a stronger US dollar and easing trade tensions between the US and China, which reduced demand for the yellow metal as a safe-haven asset.
Q2. How much did MCX Gold and Silver prices fall today?
MCX Gold December futures fell by 0.78% to ₹1,22,490 per 10 grams, while MCX Silver December contracts dropped 1.07% to ₹1,45,898 per kilogram at 9:32 am.
Q3. What is the current 24-carat and 22-carat gold rate in India?
According to the Indian Bullion Association (IBA), 24-carat gold is priced at ₹1,22,590 per 10 grams, and 22-carat gold is priced at ₹1,12,374 per 10 grams as of 9:40 am on October 27.
Q4. What are today’s silver prices in India?
Silver 999 Fine is priced at ₹1,46,380 per kilogram on October 27, showing a drop in line with global precious metal trends.
Q5. How have gold prices performed over the years in India?
Gold prices have surged by around 1,200% over the last 20 years—from ₹7,638 in 2005 to over ₹1,25,000 in 2025—delivering positive returns in 16 of those years.
Q6. What is the current gold rate in Mumbai today?
Gold bullion in Mumbai is priced at ₹1,21,960 per 10 grams, while MCX Gold is trading at ₹1,21,868 per 10 grams. Silver bullion stands at ₹1,45,540 per kilogram.
Q7. What is the gold rate in New Delhi today?
Gold bullion in New Delhi is priced at ₹1,21,790 per 10 grams, while silver is priced at ₹1,45,330 per kilogram as of October 27.
Q8. What are the gold and silver rates in Kolkata today?
Gold bullion in Kolkata is priced at ₹1,21,840 per 10 grams, and silver bullion stands at ₹1,45,390 per kilogram.
Q9. What are today’s gold and silver prices in Bengaluru?
Gold bullion in Bengaluru is priced at ₹1,22,180 per 10 grams, while silver bullion rates are ₹1,45,930 per kilogram.
Q10. What is the gold price in Chennai today?
Gold bullion in Chennai is trading at ₹1,22,440 per 10 grams, and silver bullion is priced at ₹1,46,240 per kilogram on October 27.
Q11. How do gold prices in Hyderabad compare to other cities?
Gold in Hyderabad is slightly higher at ₹1,22,280 per 10 grams, while silver bullion stands at ₹1,46,050 per kilogram.
Q12. Are gold rates the same across India?
Gold prices vary slightly from city to city due to factors like transportation costs, local taxes, demand, and jewellers’ premiums.
Q13. Should buyers purchase gold after today’s price drop?
Buyers may consider this dip a good opportunity to purchase gold, especially before festive or wedding seasons, as the overall long-term trend remains positive.
Q14. What should retail buyers keep in mind while purchasing gold?
Retail buyers should remember that jewellers add making charges, GST, and taxes to the base rate, which increases the final purchase price.
Q15. What is the outlook for gold prices in the coming weeks?
Analysts suggest gold may trade in a stable to slightly bullish range, depending on global market movements, dollar strength, and central bank policies.
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