22K Gold Rates Drop in India — Check Tanishq, Malabar, Joyalukkas Prices
After the festive rush, India’s gold prices decline again. See today’s 22K rates, IBJA prices, and how the U.S. Fed meeting may impact gold.
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Gold prices in India went down this week due to the decline of post-festival demand after Dhanteras and Diwali. Furthermore, the domestic prices weakened and were dragged down by the buyers’ withdrawal from the market during the festive rush. The gold futures of the Multi Commodity Exchange (MCX) were trading around 1.21% lower on Thursday afternoon (October 24) at about Rs 1,22,600 for 10 grams at 2 p.m.
Traders commented that the price correction was mainly due to the booking of profits by the investors and the cooling of retail demand after the celebrations. Traders across the globe and in India are eagerly awaiting signals from the meeting of the U.S. Federal Reserve on October 28 and 29, which could have a bearing on the gold trends in the global and Indian markets. Analysts are expecting gold prices to remain under slight pressure till the outcome of the Fed's policy discussion.
On Friday (October 24, 2025, 1:20 p.m. IST), the rates for 22-carat gold remained the same at the most jewelry shops in India. The price of 22K gold at Malabar Gold & Diamonds was Rs 11,500 per gram. Joyalukkas had the same price of Rs 11,500 per gram in its showrooms in cities like Mumbai, Delhi, Bengaluru, and Ahmedabad. Kalyan Jewellers offered 22K gold at Rs 11,500 per gram in its major stores. The price of Tanishq was a bit higher at Rs 11,505 per gram. The mentioned prices do not include goods and services tax (GST) or making charges.
As per the Indian Bullion and Jewellers Association (IBJA), gold rates on October 24 were Rs 12,242 per gram for 24K (Fine Gold 999), Rs 12,193 for 22K, Rs 11,214 for 20K, Rs 9,181 for 18K, and Rs 7,162 for 14K. The IBJA set these benchmark prices and published them twice a day in order to bring about the transparency sought by the market and demand.
In India, hallmarking still remains the foremost sign of authenticity for gold jewellery. It assures the metal's fineness and purity as per the Bureau of Indian Standards (BIS) authentication. Presently, gold and silver are the two metals whose hallmarking regulations are mandatory in the country.
A purchaser can go to a BIS-approved Assaying and Hallmarking Centre (AHC) if they want to check the purity of their hallmarked or unhallmarked jewellery. A small amount of money needs to be paid for testing, and an assay report will be provided confirming the purity of the gold based on the markings.
Besides, buyers could establish the legitimacy of their jewellery via the official BIS Care App, which permits the checking of the six-digit Hallmark Unique Identification (HUID) number imprinted on each hallmarked product. If this number is entered in the “Verify HUID” section of the app, users will be able to verify the gold's quality whether they have bought it or not.
Gold traders are of the opinion that in the near term, prices would not fall or rise much, and the situation would become clearer only after the U.S. Fed's policy update next week.
