Gold and Silver Rates Today: Check City-Wise Prices

Gold and silver prices recorded modest gains in the domestic market on Monday, November 2, as investors continued to assess the possibility of interest rates remaining elevated for an extended period. Both Precious Metals advanced in early trading, with silver recording a stronger increase than gold on the Multi Commodity Exchange (MCX).

At around 9:13 am, MCX gold futures rose 0.40% to Rs 1,39,400 per 10 grams. Silver futures climbed approximately 1.15% to Rs 1,82,250 per kilogram.

Retail prices varied across major Indian cities, including Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennai. Differences in local pricing can reflect factors such as transportation costs, taxes and regional market conditions.

Gold and Silver Prices in India on November 2

Gold is sold in different purity grades in the retail market. The two commonly quoted categories are 24-karat and 22-karat gold. While 24K gold has the highest purity, 22K gold contains a higher proportion of alloy metals, making it more suitable for jewellery that requires additional strength and durability.

Silver prices are also closely tracked by consumers and investors. Silver with 999 purity contains 99.9% pure silver and is commonly used for investment products such as coins and bars.

24K, 22K Gold and Silver Prices in Delhi

• 24-karat gold: Rs 1,39,101 per 10 grams
• 22-karat gold: Rs 1,27,416 per 10 grams
• Silver: Rs 1,822 per 10 grams

Gold and silver prices in Delhi reflected the broader domestic market movement on Monday. Buyers should check the final retail price with jewellery stores, as applicable taxes and making charges can increase the amount payable.

Gold and Silver Rates in Mumbai

• 24-karat gold: Rs 1,39,223 per 10 grams
• 22-karat gold: Rs 1,27,528 per 10 grams
• Silver: Rs 1,824 per 10 grams

Mumbai recorded slightly different gold and silver prices compared with Delhi. Consumers purchasing jewellery should also account for making charges, which vary depending on the design and retailer.

Gold and Silver Prices in Bengaluru

• 24-karat gold: Rs 1,39,050 per 10 grams
• 22-karat gold: Rs 1,27,369 per 10 grams
• Silver: Rs 1,820 per 10 grams

In Bengaluru, 24K gold was quoted at Rs 1,39,050 per 10 grams, while the 22K rate stood at Rs 1,27,369. Silver was priced at Rs 1,820 per 10 grams.

Gold and Silver Rates in Kolkata

• 24-karat gold: Rs 1,40,210 per 10 grams
• 22-karat gold: Rs 1,28,433 per 10 grams
• Silver: Rs 1,834 per 10 grams

Kolkata recorded higher quoted prices than several other cities in the comparison. The 24K gold rate stood at Rs 1,40,210 per 10 grams, while silver was priced at Rs 1,834 per 10 grams.

Gold and Silver Prices in Hyderabad

• 24-karat gold: Rs 1,39,305 per 10 grams
• 22-karat gold: Rs 1,27,603 per 10 grams
• Silver: Rs 1,823 per 10 grams

In Hyderabad, 24K gold was quoted at Rs 1,39,305 per 10 grams and 22K gold at Rs 1,27,603. Silver stood at Rs 1,823 per 10 grams.

Gold and Silver Rates in Chennai

• 24-karat gold: Rs 1,40,295 per 10 grams
• 22-karat gold: Rs 1,28,510 per 10 grams
• Silver: Rs 1,836 per 10 grams

Chennai recorded the highest quoted Silver Price among the six cities listed, at Rs 1,836 per 10 grams. Its 24K gold rate stood at Rs 1,40,295 per 10 grams.

Why Gold and Silver Prices Differ Across Cities

Precious metal prices can vary between cities even when domestic futures are moving in the same direction. Local taxes, transportation expenses, supply conditions and jewellers’ pricing practices can contribute to differences in retail rates.

Purity also plays an important role in the price consumers pay. Since 24K gold has a higher gold content than 22K gold, it generally commands a higher rate. However, 22K gold is widely used for jewellery because the added metals improve its durability.

What Buyers Should Check Before Purchasing Gold or Silver

Consumers should verify the purity and final price before purchasing precious metals. For gold jewellery, checking the hallmark and applicable purity details can help buyers understand the quality of the product. Making charges, taxes and other applicable costs should also be considered when comparing jewellery prices.

For silver purchases, buyers should confirm the purity, weight and applicable charges, particularly when purchasing coins or bars for investment purposes.

Although gold and silver recorded gains in early trading on November 2, precious metal prices can change during the trading session in response to interest-rate expectations and broader market conditions. Retail buyers should therefore confirm the latest local rates before completing a transaction.