Gold, silver rates today, October 27: Gold prices fall, silver sheds ₹3,743 per kg; check latest rates in your city

Gold and silver prices are under pressure ahead of Dhanteras and Diwali, offering some relief to festive-season buyers. Check the latest 24K and 22K gold rates, IBJA prices, Tanishq jewellery rates and city-wise silver prices before making your purchase.

Gold and silver prices are showing signs of cooling just as the festive and wedding season gathers pace. On Tuesday, October 27, gold futures fell to around ₹1.42 lakh per 10 grams, while silver futures slipped below ₹2 lakh per kg on the Multi Commodity Exchange (MCX).

The decline could offer some relief to buyers planning to purchase jewellery, coins or silver articles ahead of Dhanteras and Diwali. However, lower futures prices do not automatically translate into an equivalent reduction in jewellery prices, as retail rates vary by brand, city, purity and applicable charges.

Gold rate today: What are 24K and 22K gold prices on October 27?

24K gold is priced at ₹14,291 per gram, while 22K gold costs ₹13,101 per gram.

IBJA gold rate today: Prices fall across purity levels

The India Bullion and Jewellers Association (IBJA) reported a decline in its indicative gold rates on October 27 compared with the previous evening.

According to the latest published IBJA rates, the price of fine gold of 999 purity stood at ₹14,108 per gram. The 22K rate was ₹13,770 per gram.

IBJA's 999-purity silver rate stood at ₹1,92,037 per kg on October 27. Compared with the previous evening, fine gold fell by ₹63 per gram, while silver declined by ₹2,442 per kg.

Tanishq gold rate today: 22K jewellery gets costlier despite the bullion price dip

Interestingly, retail jewellery prices have not moved in the same direction as bullion benchmarks.

Tanishq's 22K gold jewellery rate increased to ₹13,175 per gram on October 27, from ₹13,125 per gram on October 26. Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas quoted ₹13,135 per gram for 22K gold jewellery across their Delhi, Mumbai, Chennai and Kolkata showrooms.

Silver rate today: Futures fall to ₹1.92 lakh per kg Silver prices also declined on Tuesday as traders reduced their positions.

On the MCX, silver contracts for December delivery fell by ₹3,743, or 1.91%, to ₹1,92,050 per kg. The decline came amid selling pressure from market participants.

In overseas trading, silver futures fell 2.14% to $52.81 per ounce in New York.

For buyers, the decline in futures prices is worth tracking ahead of the festive season. However, the price of physical silver articles, coins and jewellery may differ from exchange-traded rates.

Why are gold and silver prices falling today?

Gold futures declined by ₹814, or 0.57%, to ₹1,42,259 per 10 grams on the MCX. Analysts attributed the fall to weak spot demand.

Silver futures faced stronger selling pressure, falling by ₹3,743 per kg as market participants reduced their positions.

The broader market has also been adjusting after gold's sharp rally and subsequent correction in September. According to the World Gold Council's latest India market update, prices have cooled from their September peaks, while seasonal demand is beginning to improve ahead of Diwali and the wedding season. Lower prices can support jewellery purchases.

Should you buy gold or silver before Dhanteras and Diwali?

Before buying, keep these points in mind:

• Check the gold rate, making charges, applicable GST and any other charges before paying.

• Look for the appropriate hallmark and verify the purity of the item.