IBJA’s 999-purity gold benchmark fell from ₹1,43,152 per 10 grams in the morning to ₹1,42,694 in the afternoon on 22 October 2026. The ₹458 decline between the AM and PM readings is approximately 0.32%. This is a dated Indian bullion benchmark, not a new 23 October market quotation or a retail jewellery price inclusive of charges.
The date is confirmed in the association’s official 30-day rate sheet and in the latest label on its website’s rate chart. The source was checked after midnight in India on 23 October; that observation time does not change the date of the underlying rate.
Compare the same purity and unit
| Measure | AM opening | PM closing | Official source |
|---|---|---|---|
| Gold 999, per 10 grams | ₹1,43,152 | ₹1,42,694 | IBJA dated rate sheet |
| Gold 916, per 10 grams | ₹1,31,127 | ₹1,30,708 | IBJA dated rate sheet |
| Taxes and making charges | Excluded: 3% GST and making charges | IBJA | |
| Rate date | 22 October 2026—not 23 October | IBJA dated rate sheet | |
The calculation is explicit: ₹1,42,694 minus ₹1,43,152 equals minus ₹458 per 10 grams. Dividing minus ₹458 by the AM rate of ₹1,43,152 and multiplying by 100 gives approximately minus 0.32%. This is an AM-to-PM comparison on one date, not a claim about the change from the previous day’s close.
Why the benchmark is not the final jewellery bill
IBJA states that these rates exclude 3% GST and making charges. A quote that includes those components cannot be compared directly with the unadjusted benchmark. Ask for the metal’s purity, weight, applicable taxes and making charges to be shown separately rather than assuming the published metal rate is the amount payable.
The 999 and 916 labels describe different purities. The lower 916 rate is not a same-product discount from the 999 rate. The table keeps the two separate rather than presenting every item simply as gold.
What this snapshot does not establish
The checked records establish the date, prices, purity and unit, but they do not identify a verified cause for the AM-to-PM move. This report therefore does not attribute it to currency, interest rates, conflict or investor demand. It also does not forecast a rebound or a further fall.
CapKet’s guide to comparing bullion rates and jewellery bills explains the broader comparison. A future official update should be read as a new observation, not substituted into this historical report.
Sources and observation time
The IBJA rates homepage and its visibly linked official dated 30-day rate sheet were checked at 2026-10-22T19:52:50.827Z and 2026-10-22T19:52:50.830Z. Both are IBJA publications, not two independent sources. The source check was made on 23 October in India, but the quoted rates belong to 22 October 2026. No later rate or market driver was verified. AI-assisted primary-dataset review; not independent human editorial approval or investment advice.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.