Gold Prices Drop for Third Straight Week — Check 24K and 22K Rates Across Major Indian Cities
Gold Prices Continue to Slide for Third Consecutive Week: Here’s What You Need to Know
Gold prices in India have been on a steady decline for the third week in a row, reflecting both domestic and international economic trends. Over the past week, the price of 24-carat gold has fallen by ₹980 per 10 grams, while 22-carat gold has dropped by ₹1,160. Analysts attribute this continued weakness to the strength of the US dollar and the Federal Reserve’s “wait and watch” stance on interest rates, which has softened demand for gold — traditionally seen as a safe-haven asset.
Latest Gold Rates in Major Indian Cities
As of November 9, 2025, the price of 24-carat gold in Delhi stands at ₹1,22,170 per 10 grams, while 22-carat gold is being sold at ₹1,12,000 per 10 grams. Similar price levels are being reported across other metro cities including Mumbai, Chennai, Kolkata, and Bengaluru.
Here’s a quick look at the latest gold rates across key cities in India:
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) |
|---|---|---|
| Delhi | 1,12,000 | 1,22,170 |
| Mumbai | 1,11,850 | 1,22,020 |
| Ahmedabad | 1,11,900 | 1,22,070 |
| Chennai | 1,11,850 | 1,22,020 |
| Kolkata | 1,11,850 | 1,22,020 |
| Hyderabad | 1,11,850 | 1,22,020 |
| Jaipur | 1,12,000 | 1,22,170 |
| Bhopal | 1,11,900 | 1,22,070 |
| Lucknow | 1,12,000 | 1,22,170 |
| Chandigarh | 1,12,000 | 1,22,170 |
In Mumbai, Chennai, and Kolkata, 24-carat gold is priced at ₹1,22,020 per 10 grams, while the 22-carat variant is at ₹1,11,850 per 10 grams. Prices are similar in Pune and Bengaluru as well.
Why Are Gold Prices Falling?
According to market experts, the latest fall in gold prices is primarily due to a stronger US dollar index and uncertainty over global interest rates. With the US Federal Reserve taking a cautious approach, investors are turning to other asset classes, reducing the appeal of gold.
Moreover, fluctuations in crude oil prices, geopolitical developments, and weak retail demand in India post-festive season are also putting downward pressure on the yellow metal. Traders are closely monitoring inflation data from the US and other major economies to anticipate the next trend in gold prices.
Global Gold Outlook
On the international front, the spot price of gold currently stands at $3,996.93 per ounce. Global financial institutions remain optimistic about the long-term outlook of gold, despite short-term corrections.
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Goldman Sachs expects gold to reach $4,900 per ounce by December 2026.
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ANZ Bank predicts the yellow metal will touch $4,600 per ounce by mid-2026.
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DSP Merrill Lynch also maintains that the long-term bull run in gold is not yet over.
These forecasts suggest that while the short-term outlook may remain volatile, gold could regain its upward momentum as global economic uncertainty persists.
Silver Prices Show a Positive Trend
Contrary to gold, silver prices have risen over the past week. As of November 9, silver is trading at ₹1,52,500 per kilogram, marking an increase of ₹500 from last week. Globally, silver’s spot price has also strengthened to $48.48 per ounce, supported by industrial demand and renewed investor interest.
Final Outlook
While the near-term weakness in gold prices may concern investors, many see it as an opportunity to accumulate the metal at lower levels. Experts advise monitoring global cues, especially upcoming inflation and interest rate announcements, as they will play a key role in determining gold’s trajectory in the weeks ahead.
For now, Indian consumers can enjoy slightly lower prices — a welcome relief for those planning to buy jewellery or invest in gold before the wedding season peaks.
