Gold prices in India experienced a slight decline due to easing demand and broader inflationary pressures on Sunday, November 2. The price of 24K gold
(999 purity) stands at Rs 12,300 per gram, while 22K gold (91.67 per cent purity), commonly used in jewellery, is priced at Rs 11,275 per gram, according to Goodreturns. For centuries, gold has held its reputation as one of the most dependable stores of value. Investors often turn to it as a hedge against inflation and market instability. Its enduring appeal lies in its ability to preserve wealth when financial systems face turbulence. Beyond being a precious metal, gold also represents cultural and financial security, especially for Indian households that view it as both an investment and a tradition. Gold Rate Across Major Cities Across major Indian cities, gold prices showed only minor variations. In Chennai, the rate for 24K gold stood at Rs 12,338 per gram, while 22K and 18K gold were priced at Rs 11,310 and Rs 9,435 per gram, respectively. Both Mumbai and Kolkata recorded identical prices, with 24K gold at Rs 12,300, 22K at Rs 11,275, and 18K at Rs 9,225 per gram. In the national capital, Delhi, 24K gold was priced slightly higher at Rs 12,315 per gram, while 22K and 18K gold were at Rs 11,290 and Rs 9,240, respectively, as per Goodreturns. Similarly, Bangalore, Hyderabad, Kerala, and Pune all reported uniform rates, Rs 12,300 for 24K gold, Rs 11,275 for 22K, and Rs 9,225 for 18K per gram. In Vadodara and Ahmedabad, 24K gold was marginally higher at Rs 12,305 per gram, while 22K and 18K gold were priced at Rs 11,280 and Rs 9,230, respectively. These small regional differences reflect local market conditions and demand variations across the country. How Gold Prices Are Determined In India Gold pricing in India is influenced by a combination of global and domestic factors. The international price of gold, fluctuations in the US dollar, and local jewellery demand, particularly during festivals, collectively impact its value. Local buyers must therefore navigate changing listings that reflect shifts in both economic conditions and seasonal trends. When inflation rises or the rupee weakens, gold tends to attract more investors looking for stability. Conversely, subdued global sentiment or profit booking can trigger short-term dips in its price. Today, gold remains a preferred choice for individuals seeking to safeguard their assets during times of uncertainty. We bring you the latest gold prices across major Indian cities, updated daily for informational purposes.
