Golds price dipped this week even as silver surged, according to fresh numbers from the India Bullion and Jewellers Association (IBJA). By November 1, gold stood at ₹1,20,770 for 10 grams, slipping from ₹1,21,518 seen seven days before – that’s ₹748 lower. Meanwhile, silver climbed from ₹1,47,033 each kg up to ₹1,49,125, adding ₹2,092. IBJA’s figures don’t include GST, crafting fees, or shop profits. The Reserve Bank leans on these numbers when setting Sovereign Gold Bond rates, while several lenders refer to them for gold-backed loans.
Growth over recent months
Even though it dipped this week, gold’s up ₹44,608 since January. Back on December 31, 2024, 10 grams of 24-carat gold cost ₹76,162 – but today it’s ₹1,20,770. Silver’s gotten costlier too, jumping from ₹86,017 to ₹1,49,125 per kilo – gaining ₹63,108 so far this year.
City-wise rates
On November 1, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, plus Kolkata saw 24-carat gold at ₹1,23,290 per 10 grams – 22-carat hit ₹1,13,010 there. Delhi along with Jaipur listed 24-carat at ₹1,22,830 every 10 grams; 22-carat landed on ₹1,12,600. Major cities spotted silver hovering close to ₹1,50,900 each kg.
Market overview
Experts reckon gold shifted this week because of shifting exchange rates along with worldwide jitters. Saumil Gandhi, a top analyst at HDFC Securities, noted gold got a boost at first from the weakening rupee, though it dipped afterward following broader international patterns. The rupee ended at 88.69 versus the US dollar after wiping out earlier losses during trading hours. Overseas spot gold dipped 0.52 percent to $4,003.49 an ounce, whereas silver edged up to $48.97 an ounce.
Buying advice
While buying gold, always check for BIS hallmark – it confirms how pure it’s really. Instead of guessing, compare that day’s price using trusted spots such as IBJA before sealing the deal since costs shift depending on purity level and where you are.
