As India's wedding season gets underway, gold buyers are facing a significant price correction. On October 21, 2026, 24K gold is priced at ₹1,46,270 per 10 grams, while 22K gold costs ₹1,34,081 per 10 grams. This marks a 5.13% decline from September 21, 2026, when 24K gold was priced at ₹1,53,780 per 10 grams.
Experts suggest this dip presents a buying opportunity. Thomas Stephen of Anand Rathi Share and Stock Brokers recommends purchasing now, citing unlikely further price reductions due to upcoming festive demand and global central bank gold accumulation. Manav Modi of Motilal Oswal Financial Services agrees, noting that the correction offers a better entry point for wedding-related purchases.
Vedant Gupte of Trackk advises staggering purchases, with half bought now and the remainder closer to Dhanteras on November 6. He suggests this strategy mitigates risk whether prices rise or fall. Buyers should also monitor factors like the USD/INR exchange rate, US real yields, and geopolitical developments, according to Modi.
Looking ahead, Stephen expects gold prices to remain range-bound between ₹1.44 lakh and ₹1.55 lakh per 10 grams over the next 2-3 months. Gupte anticipates a firmer market post-Diwali, with potential upward pressure from wedding demand, a weaker rupee, and geopolitical factors.