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Following a week of festive highs, gold prices across India witnessed a steep correction on October 22, reflecting a cooling trend in global bullion markets. The post-Diwali dip comes as traders booked profits after sustained buying during the festival season, which traditionally fuels a surge in gold demand.

Sharp Correction Across Karats

According to market data, 24K gold prices fell by nearly Rs 400 per 10 grams, settling around Rs 63,200, while 22K gold slipped to Rs 57,950. The 18K variant, often preferred for lightweight jewellery, was priced near Rs 47,350 per 10 grams. The drop marks one of the sharpest single-day corrections in recent weeks.

What’s Behind the Price Decline

Analysts attribute the correction to a combi

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