Gold Rate Today, October 23, 2026: 24K Gold Falls by ₹190 per Gram; Check City-Wise Rates

23 Oct 2026 , 12:24 PM

Gold prices in India dipped across purity levels on October 23, 2026, with the rate of 24-carat gold dropping by ₹190 per gram to ₹14,248, according to Goodreturns. The price of 22-carat gold fell by ₹175 to ₹13,060 per gram while 18-carat gold witnessed a drop of ₹143 per gram to ₹10,686 per gram. The declining demand for gold has come as geopolitical tensions simmer in West Asia, with the United States, Israel and Iran at the forefront of the stand-off. In addition, reports of tankers being damaged in the Strait of Hormuz have raised concerns over the threat to global oil supplies.

Gold Rate Today in India: October 23, 2026

The latest gold rates show that 24K, 22K and 18K gold have all witnessed a dip vis-a-vis the previous day.

Gold Purity	Today’s Price per Gram	Previous Day’s Price per Gram	Daily Decline
24 Carat	₹14,248	₹14,438	₹190
22 Carat	₹13,060	₹13,235	₹175
18 Carat	₹10,686	₹10,829	₹143

Source: Goodreturns. Previous day’s prices are calculated using the reported declines.

Gold Price Today for 10 Grams

Based on the per-gram rates, the indicative prices for 10 grams of gold on October 23 are as follows:

Gold Purity	Price per 10 Grams
24 Carat	₹1,42,480
22 Carat	₹1,30,600
18 Carat	₹1,06,860

The rates mentioned above do not include additional taxes and charges, and therefore, prices may vary at the point of sale depending on several factors.

City-Wise Gold Rates Today

Depending on the location, gold rates might differ slightly across Indian cities. On October 23, 2026, while Delhi reported a rate of ₹14,263 per gram for 24K gold and ₹13,075 per gram for 22K gold, several other cities such as Mumbai, Kolkata, Bengaluru, Hyderabad and Pune, reported rates of ₹14,248 and ₹13,060 per gram for both 24K and 22K gold, respectively.

City	24K Gold (per gram)	22K Gold (per gram)	18K Gold (per gram)
Chennai	₹14,248	₹13,060	₹10,690
Mumbai	₹14,248	₹13,060	₹10,686
Delhi	₹14,263	₹13,075	₹10,686
Kolkata	₹14,248	₹13,060	₹10,686
Bengaluru	₹14,248	₹13,060	₹10,686
Hyderabad	₹14,248	₹13,060	₹10,686
Pune	₹14,248	₹13,060	₹10,686
Vadodara	₹14,243	₹13,065	₹10,686
Ahmedabad	₹14,243	₹13,065	₹10,686

Source: City-wise rates provided for October 23, 2026. Rates are indicative and may differ from those charged by individual jewellers.

Why Are Gold Prices in Focus?

Geopolitical Tensions in West Asia The US-Israel-Iran geopolitical stand-off continues to keep markets on edge while Iranian authorities reportedly said that seven tankers were damaged in Strait of Hormuz due to an explosion in a single day – the highest number of damaged tankers since the start of the US-Israel-Iran war. The strait serves as a vital oil shipping lane, and any disruption to maritime trade could see a rise in crude oil prices and subsequent inflation and impact financial markets.

Gold is generally regarded as a safe-haven asset during times of geopolitical tensions. With that said, gold prices are also influenced by the dollar index, interest rates, yields on government bonds, and demand.

US-Iran Tensions and Diplomatic Uncertainty Relations between Washington and Tehran remains a concern, especially with regards to maritime security and Tehran’s nuclear programme. In addition, news of the collapse of Pakistan-brokered deal in July 2026 have left markets guessing about its implications on the world’s energy markets.

Further developments relating to diplomatic meetings, maritime security and oil supply chain disruptions could therefore impact gold prices going forward.

What Do Falling Gold Prices Mean for Buyers?

Falling gold prices on October 23 mean the quoted rates are lower than the previous day’s closing rates. This development may be relevant to potential buyers who are considering making a purchase and tracking these rates before heading down to their preferred jewellery outlet or dealer. While 24-carat gold is regarded as the purest form and is mostly preferred when making purchases of bars and coins, 22-carat and 18-carat goldes are popular as some people prefer them for making ornaments.

That said, the quoted rate is just one part of the final price determination as making charges, applicable taxes and localised pricing considerations determine the final price at the point of sale.

Gold Rate Today: Key Takeaways

Gold prices in India fell across the board for 24K, 22K and 18K on October 23, 2026. With 24K gold recording a drop of ₹190 per gram to ₹14,248 per gram, 22K gold dropped ₹175 to ₹13,060 and 18K gold fell ₹143 to ₹10,686 per gram.

Meanwhile, tightening geopolitical tensions in the Middle East following reports of sabotage in the form of explosions on oil tankers in the Strait of Hormuz and mounting distrust between the United States and Iran continue to impact gold prices.

The precious metal is expected to continue reacting to a range of geopolitical developments, as well as fluctuations in the dollar, interest rates, government bond yields and demand-supply dynamics.

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