Gold prices in India saw a slight decline on October 21, 2026, with 24 carat gold priced at Rs 14,608 per gram, down Rs 109 from the previous day. Similarly, 22 carat gold fell by Rs 100 to Rs 13,390 per gram, while 18 carat gold dropped Rs 82 to Rs 10,956 per gram. These fluctuations reflect broader market trends influenced by global economic factors.
Vikram Subburaj, CEO of Giottus.com, noted that gold and silver futures are showing divergent trends. While gold remains under pressure, silver is attempting a modest recovery. Investors are closely monitoring inflation concerns and the outlook for US interest rates, which could significantly impact bullion prices in the near term.
Internationally, spot gold fell 0.3% to $4,125.90 an ounce on October 20, with US December gold futures declining 0.4% to $4,142.60. Subburaj emphasized that inflation risks, the US dollar, and Treasury yields remain key drivers of gold prices. The Federal Reserve’s next policy moves could further elevate market volatility.
Geopolitical tensions in West Asia also played a role in market sentiment. US Secretary of State Marco Rubio stated that securing a peace deal with Iran remains challenging, with economic pressure on Tehran continuing. Iranian Foreign Minister Abbas Araghchi indicated that the Strait of Hormuz would remain closed until Washington meets Tehran’s conditions, highlighting ongoing diplomatic and maritime confrontations.