Gold Prices Fall Sharply After Diwali; Minor Recovery Seen Today
The price of gold, which had reached its peak a few days ago, has seen a steady decline following Diwali. Recently, a sovereign of gold was sold for over ₹97,000, and traders had predicted that the price might soon cross ₹1 lakh per sovereign. However, the situation has completely reversed since October 18, with prices now falling rapidly - much like a deck of cards.
On October 22, the price dropped by ₹460 per gram and ₹3,680 per sovereign in a single day, bringing the rate down to ₹92,000 per sovereign. Following this, gold prices continued to decline gradually. Yesterday witnessed a sharp fall once again - the price decreased twice in the day, similar to how it used to rise twice during its upward trend.
In the morning, gold fell by ₹150 per gram and ₹1,200 per sovereign. By the afternoon, it dropped further by ₹225 per gram and ₹1,800 per sovereign. In total, compared to the previous day, gold prices declined by ₹375 per gram and ₹3,000 per sovereign yesterday, closing at ₹11,075 per gram and ₹88,600 per sovereign.
However, in a slight rebound today (October 29, 2025), gold prices have risen again by ₹135 per gram and ₹1,080 per sovereign, bringing the rate to ₹11,210 per gram and ₹89,680 per sovereign.
Silver prices have also shown similar fluctuations. After a steady decline until October 24, silver prices remained unchanged on the 25th, 26th, and 27th. Yesterday, the price of silver decreased by ₹5 per gram and ₹5,000 per kilogram, selling at ₹165 per gram and ₹1,65,000 per kilogram. Today, silver has registered a slight increase of ₹1 per gram and ₹1,000 per kilogram, reaching ₹166 per gram and ₹1,66,000 per kilogram.
When gold prices were surging, buyers wondered when a sovereign would cross ₹1 lakh. But now, as prices continue to slide, the question has shifted to when it might fall below ₹90,000. Jewelers, however, have stated that there is little chance of gold dropping below that level.
Despite their predictions, the price dipped below ₹89,000 yesterday, surprising traders. Analysts say the main reason for the current decline is a reduction in investment in gold following its recent peak on October 17.
Gold Price Trend in the Last 5 Days:
| Date | Price per Sovereign |
| 29.1010.2025 (Today) | ₹89,680 |
| 28.10.2025 (Yesterday) | ₹88,600 |
| 27.10.2025 | ₹91,600 |
| 26.10.2025 | ₹92,000 |
| 25.10.2025 | ₹92,000 |
| 24.10.2025 | ₹91,200 |
