Gold rates rise today, November 3: Check latest 22K and 24K prices in Delhi, Mumbai, and other cities
Gold and silver prices edged higher on Monday amid renewed buying interest from jewellers and stockists.
In Mumbai, 24-carat gold was priced at ₹1,23,170 per 10 grams, while 22-carat gold stood at ₹1,12,900 per 10 grams. Silver prices also firmed up, trading at ₹1,54,000 per kilogram. (Prices exclude GST and making charges.)
Gold Prices Across Major Indian Cities (November 3)
Gold prices varied slightly across key cities due to local taxes and logistics costs.
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) |
|---|
| Delhi | 1,13,200 | 1,23,500 |
| Mumbai | 1,12,900 | 1,23,170 |
| Chennai | 1,13,450 | 1,23,700 |
| Kolkata | 1,13,000 | 1,23,250 |
| Bengaluru | 1,12,850 | 1,23,100 |
Global Market Trend
In the international market, gold prices have slipped nearly 10% from a record high of $4,381.21 per ounce reached on October 20, as a stronger U.S. dollar capped gains. Analysts say gold is facing short-term resistance amid firm Treasury yields and profit-taking by investors.
“Gold lacks upward momentum as the dollar remains resilient, limiting safe-haven appeal,” said Kelvin Wong, Senior Market Analyst at OANDA, as quoted by Reuters.
Fed Policy & Investor Sentiment
The U.S. Federal Reserve’s recent 25-basis-point rate cut on October 29 — its second this year — provided temporary support for bullion. However, traders have scaled back expectations of another cut in December, now estimating a 71% probability, according to CME’s FedWatch Tool.
Lower interest rates generally support non-yielding assets like gold, which tend to perform better during periods of economic uncertainty.
Investors are also eyeing key U.S. economic data this week, including ADP employment and ISM PMI figures, for cues on the Fed’s future stance. Wong added that safe-haven demand has eased slightly following signs of de-escalation in U.S.-China trade tensions.
What Drives Gold Prices in India?
- Gold prices in India are influenced by:
- Global market trends and U.S. dollar strength
- Import duties and local taxes
- Rupee-dollar exchange rate fluctuations
- Seasonal jewellery demand and festive buying
Gold remains both an emotional and financial asset for Indian households — a traditional investment choice and a key part of weddings and festivals. As global economic signals shift, staying updated on gold rate movements helps investors make timely and informed decisions.
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