Gold price today: 24K at Rs 13,888/g as rates fall again

Gold prices in India fell again on Saturday, 31 October 2026, with 24-carat gold down Rs 338 per gram on the day to Rs 13,888, extending a two-session slide of about Rs 5,070 per 10 grams.

By StoryTimesNow News Desk — 31 October 2026, 5:02 PM IST

Gold prices in India fell for a second straight session on Saturday, 31 October 2026. The 24-carat rate dropped Rs 338 per gram to Rs 13,888, while 22-carat fell Rs 310 to Rs 12,730 per gram and 18-carat fell Rs 253 to Rs 10,416 per gram, per GoodReturns via The Indian Express.

On a 10-gram basis, the rates are Rs 1,38,880 for 24-carat gold, Rs 1,27,300 for 22-carat and Rs 1,04,160 for 18-carat. GoodReturns put the two-session 24-carat fall at about Rs 5,070 per 10 grams. 'Gold price today' was among India's most searched topics on Saturday, drawing more than 200,000 searches on Google Trends.

What Happened?

On the Multi Commodity Exchange, the December gold futures contract was last quoted at Rs 1,38,419 per 10 grams, down 0.05 per cent, Business Today reported. Silver futures also eased, down about 0.13 per cent to around Rs 1,78,900 per kilogram.

City rates tracked the national pattern closely. Delhi was marginally higher, at Rs 13,903 per gram for 24-carat gold, Rs 12,745 for 22-carat and Rs 10,431 for 18-carat. Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad and Pune stood at Rs 13,888, Rs 12,730 and Rs 10,416.

Retail jewellers quoted a spread around those benchmarks. Business Today reported Malabar at Rs 12,730 for 22-carat and Rs 13,887 for 24-carat per gram, Tanishq at Rs 13,090 and Rs 14,280, and Joyalukkas at Rs 13,040 for 22-carat.

Why Does This Matter?

Gold is India's most widely held household asset, and a Rs 5,070-per-10-gram fall in two sessions changes real buying decisions. For a 10-gram 22-carat purchase, the benchmark metal cost alone fell about Rs 3,100 on the day (Rs 310 per gram), before making charges and GST.

For investors, the fall is a reminder that gold can drop sharply even in a strong year. The metal had been trading near record levels, so a correction was overdue.

Important Details

• Gold rates in India on 31 October 2026 (per gram, GoodReturns via The Indian Express): 24-carat Rs 13,888, down Rs 338; 22-carat Rs 12,730, down Rs 310; 18-carat Rs 10,416, down Rs 253.
• Per 10 grams: 24-carat Rs 1,38,880; 22-carat Rs 1,27,300; 18-carat Rs 1,04,160.
• Two-session fall: about Rs 5,070 per 10 grams for 24-carat gold.
• City rates (24-carat per gram): Delhi Rs 13,903; Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune Rs 13,888; Vadodara, Ahmedabad Rs 13,893.
• MCX futures: December gold at Rs 1,38,419 per 10 grams, down 0.05 per cent; silver futures down about 0.13 per cent to around Rs 1,78,900 per kilogram.
• Why rates differ: benchmark trackers quote base bullion rates; jewellers add making charges, GST and premiums.

Background and Context

Gold's October has been volatile. On 23 October 2026, prices crashed Rs 1,900 per 10 grams in a single day as an oil-price spike and shifting US rate expectations hit bullion, after falls on 20 and 22 October.

The latest leg down has a different driver: a stronger US dollar and steady US Federal Reserve rates. A stronger dollar makes gold costlier for buyers in other currencies, while high rates make holding gold, which pays no interest, less attractive than bonds and deposits. India imports almost all its gold, so global prices feed straight into domestic rates.

What Happens Next?

The next move depends on the US dollar, US economic data and Federal Reserve signals, and global risk sentiment, which can push investors back into gold as a safe haven. Traders await fresh US data; a hint of rate cuts would support gold. For buyers, the practical point is timing, not prediction: nobody can reliably call the bottom of a two-day slide. Check the day's rate with your jeweller, confirm hallmarking and purity, and ask for the making-charge and GST break-up separately.

FAQs

What is the gold price today in India?
On 31 October 2026, 24-carat gold is Rs 13,888 per gram (Rs 1,38,880 per 10 grams), 22-carat is Rs 12,730 per gram and 18-carat is Rs 10,416 per gram, per GoodReturns via The Indian Express.

How much did gold fall today?
24-carat fell Rs 338 per gram, 22-carat Rs 310 and 18-carat Rs 253. Over two sessions, 24-carat has fallen about Rs 5,070 per 10 grams.

Why are gold prices falling?
Market reporting on Saturday points to a stronger US dollar and steady US Federal Reserve rates, which reduce demand for non-yielding gold, plus softer global bullion prices.

Why does my jeweller quote a different price?
Benchmark rates are base bullion prices. A jeweller's bill adds making charges, GST and any premium, and rates vary slightly by city.

Sources and Verification

• The Indian Express, "Gold Rate Today, October 31", updated 31 October 2026, 1:32 PM IST, reporting GoodReturns rates. Link
• GoodReturns via Jagran Josh, "Gold Price Today, October 31, 2026", 31 October 2026 (two-session fall; 10-gram and city rates). Link
• Business Today, "Gold, silver prices on October 30", 31 October 2026 (MCX futures; retail chain quotes). Link
• Asianet Newsable, "Gold, Silver Prices Today", 31 October 2026 (drivers: stronger dollar, steady Fed rates; buyer guidance). Link

Related News

• Gold prices crash Rs 19,000 in a day as oil spike rattles markets
• Buying Gold in India: Prices, Hallmarking, GST and Smart Tips
• Gold Investment India: Physical, ETF, SGB and Digital Compared

Editorial Note

Prices are indicative bullion rates published by market trackers on 31 October 2026 and move through the trading day. Retail prices vary by city, dealer premium, making charges and GST. This article reports market movements; it is not investment advice. Correction, 7 November 2026: an earlier version described the Rs 3,100 fall in the 10-gram 22-carat price as a two-session fall. It was the fall on 31 October alone; the two-session fall quoted in this article is about Rs 5,070 per 10 grams for 24-carat gold.