If you’ve been waiting for gold prices to cool off, your patience seems to be paying off. For the second consecutive week, gold prices in India have registered a significant drop on a weekly basis. In a dramatic slide, 24-carat gold has become cheaper by ₹2,620 in just one week.
In the national capital, Delhi, the price for 24-carat gold has fallen to ₹1,23,150 per 10 grams. Similarly, 22-carat gold has seen a sharp decline of ₹2,400 over the week.
Here’s a City-Wise Breakdown of Gold Rates on 2nd November:
| City | 22-Carat Gold (per 10 gm) | 24-Carat Gold (per 10 gm) |
|---|---|---|
| Delhi | ₹1,12,900 | ₹1,23,150 |
| Mumbai | ₹1,12,750 | ₹1,23,000 |
| Ahmedabad | ₹1,12,800 | ₹1,23,000 |
| Chennai | ₹1,12,750 | ₹1,23,000 |
| Kolkata | ₹1,12,750 | ₹1,23,000 |
| Hyderabad | ₹1,12,750 | ₹1,23,000 |
| Jaipur | ₹1,12,900 | ₹1,23,150 |
| Bhopal | ₹1,12,800 | ₹1,23,000 |
| Lucknow | ₹1,12,900 | ₹1,23,150 |
| Chandigarh | ₹1,12,900 | ₹1,23,150 |
A Glimmer for Silver Too
The trend of falling prices isn’t limited to gold. Silver has also become cheaper by ₹3,000 per kg this week, marking its third straight week of decline. As of November 2nd, silver is trading at ₹1,52,000 per kilogram.
However, in a minor rebound, the Indore Sarafa Bazaar saw silver prices rise by ₹600 on Saturday, November 1st, settling at an average of ₹1,50,800 per kg. Internationally, the spot price for silver saw a marginal increase, reaching $48.97 per ounce.
This sustained dip is being closely watched by investors and buyers, making it a potential window for festive purchases.
