Gold Rate Crashes Over ₹42,000 From January Peak Ahead of Diwali: Why Are Prices Falling? Is It the Right Time to Buy? Check State-Wise Gold Price Trends

Gold Price in India Today: The precious yellow metal is witnessing a downfall today. Gold prices have seen a massive correction ahead of Diwali 2026. Now, the domestic good news is that this price dip is offering a big opportunity for buyers. Especially for Indians who traditionally believe in buying gold on Dhanteras, this could be a good opportunity for them to purchase gold at a lower price.

According to analysts, there is also a greater possibility of gold prices falling further before Diwali arrives. This gold price fall does not have a domestic reason behind it; it is due to the global gold correction.

The yellow metal, which touched record highs in January, has lost more than ₹42,000 per 10 grams, raising questions about whether this is the right time to invest in gold.

On November 2, the average price of 24K gold stands at ₹13,888 per gram, while 22K gold is available at ₹12,730 per gram.

From changing global economic conditions to the US Federal Reserve's interest rate outlook, several factors are driving the decline. But will prices recover before Diwali?

City-Wise 22K And 24K Gold Rates Today 

Gold prices have declined significantly from their earlier highs. Here is a look at the average gold rates across different purity levels on November 2, 2026.