Gold Prices Continue to Fall as Silver Also Slips — Check Latest City-Wise Rates for November 3

The precious metals market opened weak on Monday as gold and silver prices declined once again, extending their recent downward trend. In the national capital, the price of 24-carat gold dropped to ₹1,23,140 per 10 grams, while 22-carat gold fell to ₹1,12,890 per 10 grams. Over the past week, gold has lost nearly ₹2,600 for 24-carat and ₹2,400 for 22-carat, indicating sustained selling pressure in the bullion market.

This latest dip comes amid soft demand following the festive season and a stronger global dollar, which has weighed on precious metal prices worldwide. Analysts attribute the fall to both domestic and international factors — including global economic stability, fluctuating bond yields, and shifting investor sentiment toward other asset classes.

Gold Prices Across Major Cities (as of November 3, 2025)

Prices vary slightly from city to city due to differences in local taxes, transportation costs, and regional demand. Overall, however, the pattern of decline remains consistent across the country.

Silver Prices Also Decline

Silver followed gold’s downward trajectory on November 3. The price of silver fell by ₹3,000 over the past week to settle at ₹1,51,900 per kilogram. On a weekly basis, this marks the third consecutive decline for silver. In the international market, the spot price of silver is currently around $48.97 per ounce, reflecting a broader cooling in global precious metal sentiment.

The drop in silver prices is largely attributed to subdued industrial demand and investor caution. While silver plays a crucial role in electronics, solar panels, and other industrial sectors, its prices are still influenced by global economic cues, interest rate expectations, and the performance of the U.S. dollar.

What’s Driving the Downtrend in Gold and Silver?

According to market experts, the current softness in precious metal prices can be linked to three primary factors:

1. Post-Festive Demand Slowdown:
   After a strong surge in buying during the festive season, retail demand for gold and silver has cooled. Many consumers completed their bulk purchases ahead of Diwali, leading to a temporary dip in sales volume.

2. Stronger U.S. Dollar and Rising Bond Yields:
   As global bond yields rise and the dollar gains strength, international investors are moving away from non-yielding assets like gold and silver. This has put downward pressure on prices in both global and domestic markets.

3. Global Economic Stability:
   The easing of inflationary fears and relatively stable economic data from the U.S. and China have reduced the appeal of safe-haven assets. With investors focusing on equities and bonds, the bullion market has entered a correction phase.

Outlook for Precious Metals

Despite the current weakness, analysts believe the medium-term outlook for gold and silver remains cautiously optimistic. Any potential global uncertainties, geopolitical tensions, or renewed inflation concerns could once again drive investors toward precious metals.

Gold continues to be viewed as a safe-haven asset, and silver’s expanding industrial applications — especially in solar energy and electronics — may help stabilize its long-term value.

However, in the short run, fluctuations are likely to continue, with prices reacting to international market cues and domestic demand patterns.

Conclusion

As of November 3, both gold and silver are trading lower across major Indian cities. While gold has dropped by over ₹2,600 in a week, silver has slipped by ₹3,000, marking a consistent downtrend for the third straight week. Experts suggest that prices may stabilize in the coming sessions, but investors should remain cautious and track global developments before making fresh investments in precious metals.