Gold Prices Drop in India
Gold and silver rates in India declined on October 12 as US and global events affected market sentiment.
Market Sentiment and Prices
The price of gold in India's retail market decreased on October 12, 2026. The price of 24-karat gold dropped by 0.41%, trading at ₹1,51,100 per 10 grams, while 22-karat gold saw a more modest decline. Silver prices also fell, trading 0.16% lower at ₹2,25,770 per kg.
The decline was influenced by geopolitical events. US President Donald Trump's discussions about joining Saudi Arabia in a conflict against Iran-backed Houthis, following deadly airport strikes, added to market volatility. Additionally, the People's Bank of China's significant purchase of 23 tonnes of gold in September indicated a trend towards safe-haven assets.
Context and Implications
In the retail market, 24-karat gold is considered the purest form, commonly used for investment, while 22-karat gold is more durable and preferred for jewellery. The price of 22-karat gold dropped by Rs 65 to ₹13,880 per gram, and 18-karat gold, which is 75% gold, fell by Rs 54 to ₹11,357 per gram.
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