New Delhi: On November 2, 2024, gold prices in India continued to soar, with 24-carat gold the highest purity level trading at ₹80,700 per 10 grams in major cities like Delhi, Lucknow, and Jaipur. Across other cities, the 24-carat price varied slightly, averaging around ₹80,550 per 10 grams. For those buying jewelry, 22-carat gold, known for its added durability due to alloy composition, was priced at ₹73,840 per 10 grams in cities including Mumbai, Chennai, Kolkata, and Hyderabad.
Gold holds immense cultural and financial value in India, especially during the festive and wedding season, with high demand pushing prices further upward. In addition to gold’s intrinsic market value, factors such as global economic conditions, currency exchange rates, and import duties also impact its retail price in India.
City-Wise Gold Prices on November 2, 2024 (per 10 grams)
- Delhi: 22-carat – ₹73,990, 24-carat – ₹80,700
- Mumbai: 22-carat – ₹73,840, 24-carat – ₹80,550
- Chennai: 22-carat – ₹73,840, 24-carat – ₹80,550
- Kolkata: 22-carat – ₹73,840, 24-carat – ₹80,550
- Jaipur and Lucknow: 22-carat – ₹73,990, 24-carat – ₹80,700
- Pune and Hyderabad: 22-carat – ₹73,840, 24-carat – ₹80,550
Silver Prices Steady Amidst Rising Gold Rates
Silver prices also remained elevated, with one kilogram trading at ₹96,900. This high price trend comes as precious metals continue to attract investors amid global economic uncertainties.
Understanding Gold’s Retail Price in India
The retail gold price in India fluctuates daily, influenced by global economic dynamics, geopolitical events, and local import duties. These factors, along with the festive season demand, make gold a crucial investment choice for Indians. Gold also holds cultural significance, playing a central role in Indian weddings and festivals, further driving its demand.
As gold prices remain high, many buyers are taking a strategic approach to their purchases, keeping an eye on price shifts while planning for Diwali and wedding jewelry.
