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Gold and silver prices remained under pressure on Sunday, November 1, following a sharp correction in domestic and international markets. Buyers planning jewellery purchases or tracking precious metal prices can check the latest retail rates across major Indian cities, including Delhi, Mumbai, Kolkata, Chennai and Hyderabad.
According to Goldreturns data, 24-karat gold prices varied across cities, while silver prices also showed minor regional differences. The rates listed below are indicative retail prices and may change depending on local market conditions.
Gold prices recently witnessed a notable fall as rising energy costs, inflation concerns and expectations of tighter US monetary policy affected investor sentiment. According to the All India Sarafa Association, gold of 99.9% purity declined by Rs. 3,200 to Rs. 1,42,000 per 10 grams. Silver prices also continued their downward movement, falling by Rs. 4,200 to Rs. 1,86,000 per kilogram.
International markets saw an even sharper correction. Spot gold dropped nearly 4% on Friday to close at USD 3,875.55 per ounce. Spot silver also declined around 6%, settling at USD 49.12 per ounce.
Here are the reported retail prices of 18K, 22K and 24K gold, along with 999-purity silver, across seven major Indian cities:
Gold and silver rates can differ between cities due to local taxes, transportation costs and jeweller pricing. The final amount paid for jewellery may also include making charges and applicable taxes.
Buyers should confirm the latest rate with their jeweller before making a purchase. Those considering precious metals as investments should also assess market volatility and seek professional advice where necessary.