Gold Prices Dip Again Ahead of Festive Rush: Check Latest 22K and 24K Rates in Top 10 Indian Cities

Gold Rate Today in India: As the festive spirit of Guru Nanak Jayanti fills the air, gold buyers are in for some good news. The price of gold has dropped for the second consecutive day, making this an ideal time for consumers to invest in the precious metal. Silver prices too have followed a similar downward trend, offering relief to those planning to buy ornaments or coins this festive week.

The steady fall in gold prices is largely influenced by global market factors. A stronger US dollar and the aggressive stance of the Federal Reserve have kept pressure on bullion prices worldwide. After a brief rebound earlier in the week, gold prices have once again slipped, continuing their downward trend for a second straight day.

Gold Prices Drop Across Major Cities

In the national capital, the price of 24-carat gold fell by ₹10 per 10 grams, while 22-carat gold also recorded a drop of ₹10. Over the past two days, 24-carat gold has declined by ₹710 per 10 grams, and 22-carat gold has fallen by ₹660. The downward momentum was mirrored in silver as well, with prices dropping by ₹3,100 per kilogram in Delhi over two days after a brief rise.

Here’s a look at the current gold prices in 10 major Indian cities:

City 22K Gold (₹/10g) 24K Gold (₹/10g)

Delhi	₹1,12,390	₹1,22,500
Mumbai	₹1,12,240	₹1,22,450
Kolkata	₹1,12,240	₹1,22,450
Chennai	₹1,12,490	₹1,22,720
Bengaluru	₹1,12,240	₹1,22,450
Hyderabad	₹1,12,240	₹1,22,450
Lucknow	₹1,12,390	₹1,22,500
Patna	₹1,12,290	₹1,22,500
Jaipur	₹1,12,390	₹1,22,500
Ahmedabad	₹1,12,290	₹1,22,500

Silver Prices Also See Decline

Silver too has lost some shine this week. After a brief surge, prices in Delhi dropped by ₹3,100 per kilogram in just two days. As of November 5, silver is trading at ₹1,50,900 per kilogram in the national capital, a fall of ₹100 from the previous day. The trend is similar across other major metros — Mumbai and Kolkata are seeing comparable rates, while Chennai remains the costliest with silver priced at ₹1,64,900 per kilogram.

Expert Outlook on Gold and Silver Trends

Market experts believe that the current softness in gold may not last long. According to Kelvin Wong, Senior Market Analyst at OANDA, the US dollar’s strength continues to limit any major surge in gold prices. However, analysts from Augmont Goldtech note that gold is stabilizing between $3,920 and $4,060 per ounce (approximately ₹1.19–₹1.22 lakh per 10 grams), while silver is holding between $46 and $49 per ounce (around ₹1.4–₹1.5 lakh per kilogram).

A breakout above these levels could trigger a 3–5% rise, they added. Kunal Shah, Vice President at Nirmal Bang Securities, echoed a similar sentiment, predicting that gold prices on the Multi Commodity Exchange (MCX) could climb to ₹1.23 lakh per 10 grams. On the global front, he expects gold to reach as high as $4,200 per ounce in the coming months if current macroeconomic trends persist.

Bottom Line

As gold and silver prices soften ahead of the festival season, buyers may find this an opportune moment to make purchases before a potential rebound. However, experts advise keeping an eye on international trends and dollar movements, which will continue to influence the direction of precious metal prices in the days ahead.

At present, both gold and silver are shining less in price, but their investment appeal remains undimmed.