On 23 October 2025, Indian gold and silver prices retreated as investors booked profits and positioned ahead of key U.S. inflation figures. 24-carat gold in Indian markets dipped to around ₹1,25,890 per 10 gm, while silver was near ₹1.60 lakh per kg. The drop reflected a firmer U.S. dollar, weaker risk-sentiment and concerns over global inflation. Despite the pull-back, demand remains firm ahead of festivals in India, and jewellery off-take is still healthy. Traders recommend watching the dollar and upcoming data for cues on metals’ near-term direction.