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Gold and Silver Price Today: After hitting record highs just days ago, gold and silver prices witnessed a sharp correction on October 22, as global markets faced profit-taking and festive demand eased following Diwali and Dhanteras.

The decline came on the heels of a global selloff on October 21, as investors booked profits amid rising volatility and uncertainty over global trade developments.

On the New York Mercantile Exchange (NYMEX), Gold Futures (December 2025 expiry) slipped around 2 per cent to an intraday low of $2,021 per troy ounce, while Silver Futures dropped nearly 2 per cent to $26.82 per troy ounce.

Both metals, however, managed to recover slightly later, with gold trading near $2,102 per ounce and silver around $27.83 per ounce.

Spot gold also eased 1.07 per cent to $2,098.70 per troy ounce, while spot silver fell 0.63 per cent to $27.66 per ounce. Analysts noted that the correction was expected after an extended rally that took gold to a lifetime high of $2,213 per ounce in the global market earlier in October.

: MCX Gold and Silver Crash: Yellow metal Rs 11,700 off record high, silver sinks below Rs 1,43,850—Is there an opportunity?

In India, physical gold and silver prices followed the global trend. The price of 24-karat gold fell by Rs 338 to Rs 12,720 per gram, while 22-karat gold dropped by Rs 310 to Rs 11,660 per gram. 18-karat gold was down Rs 254 to Rs 9,540 per gram.

Silver also witnessed a notable correction, slipping Rs 2,000 per kilogram to Rs 1,62,000 per kg. This marks a sharp fall from its record high of Rs 1,90,000 per kg on October 15.

Overall, gold is now trading about 5 per cent below its all-time high, and silver is down nearly 15 per cent from its peak.

According to market expert Manoj Kumar Jain, “Traders need caution in the current market volatility due to profit-taking and uncertainty around the US-India trade deal. But long-term investors certainly have an opportunity to accumulate in a staggered way in this market fall. The fundamentals of gold and silver remain bullish as long as the Russia-Ukraine war continues, trade conflicts between the US and China persist, and US tariffs and fiscal pressures stay elevated.”

On the Multi Commodity Exchange (MCX), gold prices are holding key support at Rs 71,299 per 10 grams and have already crossed the Rs 1,25,000 levels earlier.

Analysts suggest buying gold in a Systematic Investment Plan (SIP) mode between Rs 1,20,000 and Rs 1,14,000, maintaining a stop-loss at Rs 1,06,600 on a monthly closing basis.

For silver, which delivered over 70 per cent returns in the past year, MCX charts indicate strong support near Rs 84,000 per kilogram.

Experts recommend accumulating between Rs 1,44,000 and Rs 1,34,000 with a stop-loss at Rs 1,21,000.

Anubhav Maurya is a Senior Sub-Editor at Zee Business, focusing on the stock market, personal finance, corporate news, and related sectors.

He has previously worked wi