Gold Price Today, November 2, 2026: Gold prices in India have started the new trading week on a weaker note, bringing some relief to jewellery buyers and consumers planning purchases ahead of Dhanteras and Diwali. On Monday morning, November 2, the price of 24-carat gold in Delhi stood at ₹1,39,020 per 10 grams, while 22-carat gold was available at ₹1,27,440 per 10 grams.

Gold rates have also declined in several other major cities, including Mumbai, Chennai, Kolkata, Bengaluru and Jaipur. The downward movement follows a significant correction in precious metal prices during the previous week.

According to reported market figures, 24-carat gold became cheaper by up to ₹3,700 per 10 grams last week, while 22-carat gold recorded a decline of up to ₹3,400. Silver prices have also fallen sharply, making the latest developments important for both buyers and investors.

Gold Price Today: 24-Carat Gold Falls to ₹1,39,020 in Delhi

The domestic gold market continues to reflect weakness in international precious metal prices.

On November 2, the reported price of 24-carat gold in Delhi was ₹1,39,020 per 10 grams. In Mumbai, the same quantity was priced at ₹1,38,870.

The decline has attracted attention from consumers who were waiting for lower prices before purchasing jewellery, gold coins or investment-grade gold.

However, market experts recommend caution because gold prices remain sensitive to global economic developments.

Although falling prices may create buying opportunities, there is no certainty that the current correction has ended.

Gold Rate Today, November 2: Check 22K and 24K Prices in 10 Major Cities

Here is the city-wise gold price list for Monday morning, November 2, 2026.

Note: These are indicative gold rates reported on November 2, 2026. Actual jewellery prices may differ because of GST, making charges, purity and retailer-specific pricing.

Gold Prices in Delhi, Mumbai, Chennai and Kolkata

Gold prices vary slightly between cities because of local market conditions, transportation expenses and dealer margins.

Delhi: The national capital reported a price of ₹1,39,020 per 10 grams for 24-carat gold, while 22-carat gold stood at ₹1,27,440.

Mumbai: In India's financial capital, 24-carat gold was priced at ₹1,38,870 per 10 grams. The corresponding rate for 22-carat gold was ₹1,27,290.

Chennai: Buyers in Chennai could purchase 24-carat gold at the reported rate of ₹1,38,870 per 10 grams, while 22-carat gold stood at ₹1,27,290.

Kolkata: The eastern metropolitan city recorded the same reported prices as Mumbai and Chennai, with 24-carat gold at ₹1,38,870 and 22-carat gold at ₹1,27,290 per 10 grams.

Meanwhile, Pune and Bengaluru also reported 24-carat gold at ₹1,38,870 per 10 grams and 22-carat gold at ₹1,27,290.

Gold Becomes Cheaper by Up to ₹3,700 in One Week

The recent decline is not limited to Monday's trading session.

During the previous week, domestic gold prices experienced a notable correction.

According to market reports, the price of 24-carat gold declined by as much as ₹3,700 per 10 grams, while 22-carat gold became cheaper by up to ₹3,400.

The fall has generated interest among buyers who had postponed purchases because of elevated prices.

However, gold prices can fluctuate considerably within short periods, particularly when global financial markets experience uncertainty.

Investors should therefore assess their financial objectives and risk tolerance rather than making decisions based only on recent price movements.

International Gold Prices Decline by 2.9%

The weakness in India's gold market is accompanied by a correction in international prices.

According to the reported figures, spot gold was trading at approximately $3,880.97 per troy ounce in the global market.

International gold prices declined by around 2.9% during the previous week.

Global gold prices are influenced by several factors, including the strength of the US dollar, interest rate expectations, inflation trends and geopolitical developments.

When international prices fall, domestic gold rates may also decline, although currency movements and local market conditions can affect the extent of the change.

Experts are closely watching whether global gold prices stabilise or face additional selling pressure in the coming sessions.

Silver Price Today: Rates Drop Below ₹2 Lakh Per Kilogram

Alongside gold, silver prices have also recorded a sharp decline.

On November 2, 2026, silver was reportedly priced at ₹1,99,900 per kilogram in India.

The metal became cheaper by approximately ₹20,000 per kilogram during the previous week.

According to the source report, silver had reached a record level of around ₹4 lakh per kilogram in January 2026 before experiencing a substantial correction.

In the international market, spot silver was trading near $49 per troy ounce.

The simultaneous decline in gold and silver prices has attracted attention from investors as well as consumers preparing for festive purchases.

However, analysts caution that precious metal markets may remain volatile in the near term.

Is This the Right Time to Buy Gold Before Diwali?

The decline in gold prices may appear encouraging for people planning to purchase jewellery, coins or bars during the festive season.

Gold traditionally attracts strong buying interest around Dhanteras and Diwali because of its cultural significance and its role as a long-term store of value.

However, the appropriate time to purchase gold depends on the purpose of the investment.

Consumers buying jewellery for personal use may focus on affordability, purity and making charges.

Long-term investors should consider factors such as portfolio diversification, investment horizon and the possibility of further price fluctuations.

Buying gold solely because prices have fallen may not always produce favourable results.

For substantial investments, some investors prefer spreading purchases across different periods rather than investing the entire amount at once.

What Is the Difference Between 22-Carat and 24-Carat Gold?

Before purchasing gold, buyers should understand the difference between the two commonly quoted purity categories.

24-carat gold is approximately 99.9% pure and is generally preferred for investment products such as coins and bars. Because of its high purity, it is relatively soft and less suitable for many types of everyday jewellery.

22-carat gold contains approximately 91.6% gold, with the remaining portion consisting of other metals that improve durability.

This makes 22-carat gold a popular choice for traditional jewellery.

Consumers should verify the applicable BIS hallmark and purity details before making a purchase.

Jewellery buyers should also compare making charges and request a proper invoice from the retailer.

Gold Price Outlook: What Should Investors Watch Next?

The direction of gold prices in the coming days will depend on domestic demand and international market conditions.

Movements in the US dollar, global interest rate expectations and economic data could influence precious metal prices.

Festive demand in India may support retail purchases, but it does not guarantee that gold prices will increase immediately.

Market participants will continue monitoring international spot prices and broader financial developments for indications of the next trend.

For consumers, comparing prices across reliable jewellers and checking the latest rates before purchasing remain important steps.

The key takeaway: Gold prices have declined at the beginning of November, with 24-carat gold reported at ₹1,39,020 per 10 grams in Delhi and ₹1,38,870 in Mumbai. Silver has also fallen to ₹1,99,900 per kilogram. While lower prices may attract festive buyers, investors should remain cautious because further market fluctuations are possible.