New Delhi, November 3: After days of record breaking highs, gold appears to have entered a correction zone. The latest data from Bloomberg shows the yellow metal slipping further below the $4,000 an ounce mark, reflecting a slowdown in global bullion sentiment.
According to Goodreturns, gold prices in India also saw a marginal day on day decline, with 24K gold trading at ₹1,22,990 per 10 grams, 22K at ₹1,12,740, and 18K at ₹92,240.
The decline comes after the Xi Jinping administration in China decided to end a long-standing tax rebate for certain retailers a move that could significantly affect demand in one of the world’s largest precious metals markets, Bloomberg reported.
Despite the recent pullback, gold remains over 50% higher year to date, supported by steady central bank buying and safe-haven demand amid global economic uncertainty. As of 9:10 a.m. in Singapore, spot gold slipped 0.5% to $3,984.43 an ounce, following a 2.7% decline last week, while the Bloomberg Dollar Spot Index remained largely unchanged.
City-wise Gold Rates (November 3, 2025):
City 24K (₹/1g) 22K (₹/1g) 18K (₹/1g)
Chennai 12,337 11,309 9,434
Mumbai 12,299 11,274 9,224
Delhi 12,314 11,289 9,239
Kolkata 12,299 11,274 9,224
Bangalore 12,299 11,274 9,224
Hyderabad 12,299 11,274 9,224
Jaipur 12,314 11,289 9,239
Lucknow 12,314 11,289 9,239
Coimbatore 12,337 11,309 9,434
Patna 12,304 11,279 9,229
Surat 12,304 11,279 9,229
More cities… — — —
Source: Goodreturns
Silver Prices Continue to Fall
Like gold, silver prices in India also extended their decline. After hovering near ₹2 lakh per kilo during the Dhanteras period, the white metal has now fallen to ₹1,51,900 per kilo, according to Goodreturns data — a ₹100 dip since yesterday.
While the short-term outlook remains weak, analysts expect a fresh rally in the coming weeks as industrial demand and investor interest recover.
City-wise Silver Rates (₹):
City 10g 100g 1Kg
Chennai 1,659 16,590 1,65,900
Mumbai 1,519 15,190 1,51,900
Delhi 1,519 15,190 1,51,900
Hyderabad 1,659 16,590 1,65,900
Coimbatore 1,659 16,590 1,65,900
Kolkata 1,519 15,190 1,51,900
Lucknow 1,519 15,190 1,51,900
Salem 1,659 16,590 1,65,900
Rajkot 1,519 15,190 1,51,900
Trichy 1,659 16,590 1,65,900
Source: Goodreturns
Global Market Update
In international markets, both gold and silver extended their losses, while palladium also declined. Platinum, however, managed to trade marginally higher, signaling mixed sentiment across the precious metals spectrum.