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Gold and silver prices have dropped again in Uttar Pradesh despite the ongoing wedding season, surprising buyers. On 22 November 2025, 24-carat gold slipped to ₹1,24,120 per 10 grams while 22-carat and 18-carat rates also declined. Experts attribute this fall to correction after sharp gains and stronger
Gold-Silver Prices Fall Despite Wedding Season Rush
Lucknow: With the onset of the wedding season, gold and silver purchases typically increase, leading to higher prices. However, this time the situation is different. Gold and silver prices have declined for the second consecutive week, bringing relief to buyers who had been postponing their purchases due to the rising prices.
On November 22, 2025, prices of 24-carat, 22-carat, and 18-carat gold declined in the bullion markets of Uttar Pradesh, while silver prices also fell.
Gold prices fall across major cities as global rates decline; Check price here
The price of 24-carat gold today stood at ₹1,24,120 per 10 grams in the bullion markets of major cities, including Lucknow, Noida, Ghaziabad, Varanasi, Agra, Meerut, Kanpur, Ayodhya, and Gorakhpur. This represents a slight decline compared to last week.
Other rates were as follows:
22-carat gold: ₹1,13,790 per 10 grams
18-carat gold: ₹93,130 per 10 grams
Silver: ₹1,60,900 per kg
Bullion traders say that the weakness in the international market and the strengthening of the dollar are directly impacting the Indian market.
After seeing gold prices rise by more than 50% this year, the market is now undergoing a correction. Experts say this decline in gold prices is a natural correction.
If international geopolitical tensions increase or markets become volatile, gold could strengthen again. Currently, investors appear to be in profit-booking mode.
However, it is important to note that these prices are estimates and actual prices may vary slightly depending on the city.
Gold prices surge across cities; Silver jumps to fresh high
According to Renisha Chainani, Research Head at Augmont, stronger-than-expected US jobs data has increased pressure on gold. She noted that non-farm payrolls for September increased by 119,000, significantly higher than the expected 50,000. This has led to speculation that the Federal Reserve will not cut interest rates at its December meeting, leading to weakness in the gold market.
On the other hand, Jatin Trivedi, VP and commodity-currency expert at LKP Securities, noted that Comex gold fell 1% to USD 4035, while MCX gold remained stable despite the Indian rupee's weakness. The weak rupee has prevented domestic prices from falling.
He added that gold may fluctuate within the ₹120,000 per 10 grams range in the coming days.
Many bullion traders believe that the price drop could be a good opportunity for buyers, especially those looking to purchase gold for weddings or investments.
