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?
Also Read: Gold Price Today: Why Are Gold Rates Falling Ahead Of Dhanteras And Diwali? Check The 30-Day Trend
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.
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City / Region
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22K Gold Price (Per 10g)
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24K Gold Price (Per 10g)
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Delhi
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₹1,27,900
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₹1,39,520
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Mumbai
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₹1,27,750
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₹1,39,370
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Bengaluru
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₹1,27,750
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₹1,39,370
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Chennai
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₹1,27,750
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₹1,39,370
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Hyderabad
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₹1,27,750
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₹1,39,370
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Kerala
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₹1,27,750
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₹1,39,370
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Jammu & Kashmir
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₹1,27,750
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₹1,39,370
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Kolkata
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₹1,27,750
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₹1,39,370
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Pune
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₹1,27,750
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₹1,39,370
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Ahmedabad
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₹1,27,800
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₹1,39,420
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Jaipur
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₹1,27,900
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₹1,39,520
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Lucknow
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₹1,27,900
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₹1,39,520
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Chandigarh
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₹1,27,900
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₹1,39,520
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Bhubaneswar
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₹1,27,750
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₹1,39,370
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Surat
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₹1,27,800
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₹1,39,420
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Nagpur
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₹1,27,750
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₹1,39,370
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Patna
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₹1,27,800
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₹1,39,420
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Coimbatore
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₹1,27,750
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₹1,39,370
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Nashik
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₹1,27,780
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₹1,39,400
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Vadodara
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₹1,27,800
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₹1,39,420
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Month-by-Month Indian Gold Rate Comparison (October 2025 – October 2026)
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Month
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Indian Gold Price (24K/10g)
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Monthly Return (%)
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Core Catalyst & Indian Market Reason
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October 2025
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₹1,21,907
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+11.24%
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Strong Baselines: Emerging central bank buying and festive and wedding demand elevated gold rates.
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November 2025
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₹1,22,961
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+0.86%
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Global Easing Bets: Expectations of upcoming global interest rate cuts supported the bullion market.
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December 2025
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₹1,31,171
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+6.68%
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Year-End Hedging: Defensive local portfolio rebalancing drove steady accumulation.
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January 2026
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₹1,45,946
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+11.26%
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Safe-Haven Surge: Macroeconomic uncertainty triggered a sharp rally, with gold reaching a peak of ₹1,83,050.
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February 2026
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₹1,54,038
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+5.54%
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Peak Rally: Strong institutional momentum and global short squeezes pushed prices to record averages.
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March 2026
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₹1,53,298
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-0.48%
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Profit Booking: Domestic investors booked gains following the overbought rally, triggering a technical correction.
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April 2026
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₹1,49,927
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-2.20%
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Sticky Economy: Prices cooled as a resilient US economy delayed expectations of global interest rate cuts.
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May 2026
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₹1,54,756
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+3.22%
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Currency Friction: Local market consolidation was influenced by fluctuations in the USD-INR exchange rate.
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June 2026
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₹1,45,954
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-5.68%
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Rupee/Dollar Shift: A strengthening US dollar weighed on imported gold prices.
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July 2026
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₹1,49,402
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+2.36%
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Physical Dip Buying: Domestic retailers bought gold during price dips, supporting a modest recovery.
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August 2026
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₹1,62,458
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+8.73%
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Seasonal Rebound: Early festive-season buying and macroeconomic uncertainty pushed prices higher.
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September 2026
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₹1,49,570
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-7.93%
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Yield Pressures: Rising international bond yields increased the opportunity cost of holding non-yielding bullion.
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October 2026
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₹1,38,419
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-7.45%
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Liquidity Squeeze: Higher US PCE inflation fuelled interest rate concerns. A global equity sell-off also forced institutions to liquidate gold holdings to meet margin calls, contributing to a decline in futures prices.
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