Gold Rate Today, November 1: 22K and 24K Prices Increase Across Delhi, Mumbai, and Other Cities

Gold Rate Today, November 1: Prices Rise Amid Renewed Buying; Check 22K and 24K Rates in Major Cities

Gold and silver prices moved higher on Friday, November 1, supported by fresh buying from jewellers and stockists. In Mumbai, 24-carat gold was priced at ₹1,23,290 per 10 grams, while 22-carat gold stood at ₹1,13,010 per 10 grams. These rates exclude GST and making charges. Silver traded at ₹1,50,900 per kilogram.

Gold Price in Key Indian Cities (per 10 grams)

(Note: Prices exclude GST and may vary slightly across outlets.)

Market Factors Behind the Rise

According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, gold prices advanced due to rupee depreciation and renewed safe-haven demand amid global uncertainties.

The rupee ended flat at 88.69 against the US dollar after trimming intra-day losses. While weak domestic equities and a stronger greenback capped gains, lower crude prices provided some support.

Gandhi noted that although the meeting between US President Donald Trump and Chinese President Xi Jinping ended positively, concerns over long-term economic rivalry persisted—pushing investors towards gold as a safe asset.

Global Market Trends

Globally, spot gold eased 0.52% to $4,003.49 per ounce, while silver inched up to $48.97 per ounce, reflecting mixed sentiment across international markets.

What Drives Gold Prices in India

Gold prices in India are influenced by multiple factors, including:

• Global bullion trends

• Import duties and local taxes

• Exchange rate fluctuations

• Investment demand and festive buying

Given gold’s dual role as an investment and a cultural asset, especially during weddings and festivals, investors closely monitor price movements to make timely decisions in a volatile market.