Gold prices in India experienced a decline of ₹100 or 0.07% to ₹1,39,790 per 10 grams on November 4, 2026, despite international gold futures rising 0.16% to $3,946.75 per ounce, according to Bullion.com. The domestic decline occurred at around 9:28 AM on Wednesday, with silver prices falling by ₹1,910 or 1.06% to ₹1,78,570 per kg. MCX gold futures declined 0.09% to ₹1,39,333 per 10 grams, while silver futures fell 0.95% to ₹1,77,985 per kg. This contrasts with the uniform upward movement experienced on the same day in previous reports.
Among major Indian cities, New Delhi recorded the highest 24-karat gold price at ₹1,39,850 per 10 grams, while Kolkata had the lowest at ₹1,39,250. 22-karat gold prices varied significantly across cities, with Mumbai at ₹1,27,820 per 10 grams, Bengaluru at ₹1,28,013, and Chennai at ₹1,28,187. The price variations reflect local market dynamics and regional demand patterns, with Kolkata showing the most competitive rates for 24-karat gold. Hyderabad recorded ₹1,39,660 for 24-karat gold and ₹1,28,022 for 22-karat gold, while Bengaluru maintained premium rates across both categories.
Regional variations in gold prices remained minimal across major Indian cities, with most cities maintaining prices within a ₹1,000-1,500 range. Coimbatore, Visakhapatnam, and Madurai recorded the lowest prices at ₹12,775 per gram for 22-carat gold, while Bhubaneswar, Patna, and Ludhiana commanded premium rates at ₹12,975 per gram. 24-carat gold prices ranged from ₹13,466 to ₹13,624 per gram across different cities, with Jaipur, Surat, and Mysore showing the highest rates at ₹13,575 per gram. 18-carat gold prices varied from ₹10,474 to ₹10,489 per gram across cities, showing the smallest price variations among the three categories.
The domestic price decline occurred just two days before Dhanteras, which is traditionally a time for buying gold and silver jewellery, coins and utensils, according to Bullion.com. This timing suggests that seasonal demand patterns may be influencing current price movements, with the market potentially positioning for increased buying activity in the coming days. The contrast between domestic and international price movements highlights the local market dynamics that can override global trends, particularly during festival periods when precious metals see increased demand.
Silver prices in Delhi and Mumbai stood at ₹2,00,000 per kilogram on November 4, 2026, translating to ₹2,000 per 10 grams, according to NPS. Silver prices are closely tracked by investors and consumers, particularly during the festive and wedding seasons when demand for precious metals can influence buying decisions. The price of 22-carat gold, commonly used to make jewellery, also increased across the cities covered, with rates varying between cities due to local demand, transportation costs, and jewellers' pricing practices.
