Gold Prices Slip on Monday: Check the Latest 22K and 24K Rates Across Major Cities

Gold prices softened at the start of the week as global market uncertainty weighed on precious metals. On Monday, 17 November, gold became cheaper across several major Indian cities, including Delhi, Mumbai, Chennai, Kolkata, and Bengaluru. The decline comes amid growing doubts about the US Federal Reserve’s next move on interest rate cuts, which has weakened international gold sentiment and strengthened the US dollar index.

A stronger dollar typically makes gold more expensive for other currencies, leading to a drop in demand and a dip in prices. This global pressure has now begun to reflect in domestic markets as well.

Gold Price Today: Why Rates Fell on 17 November

International markets remain cautious due to a lack of fresh economic data from the US, raising concerns that rate cuts may be delayed further. This uncertainty pushed gold prices lower worldwide, directly impacting India’s bullion market.

In Delhi, 24-carat gold is now priced at ₹1,25,220 per 10 grams, while 22-carat gold is retailing at ₹1,14,800 per 10 grams. The price correction follows last week’s slight uptick, driven by investor interest and festive demand.

Gold Prices in Delhi

• 24K Gold: ₹1,25,220 per 10g

• 22K Gold: ₹1,14,800 per 10g

Delhi continues to see steady demand, but the latest price drop provides some relief to buyers planning wedding or festival purchases.

Gold Rates in Mumbai, Chennai, and Kolkata

In Mumbai, Chennai, and Kolkata, both 22K and 24K gold prices are almost aligned:

• 22K Gold: ₹1,14,640 per 10g

• 24K Gold: ₹1,25,070 per 10g

Mumbai remains one of the most price-stable gold markets in the country, closely tracking global trends.

Prices in Bengaluru and Pune

Gold rates in Bengaluru and Pune mirror the Mumbai market:

• 22K Gold: ₹1,14,640 per 10g

• 24K Gold: ₹1,25,070 per 10g

These cities typically follow western market pricing, influenced by high investment demand.

Gold Price List: Major Indian Cities (17 November)

These rates may vary slightly based on local taxes, making charges, and market demand.

Silver Prices Also Ease

Alongside gold, silver also saw a mild correction today. On 17 November, silver is trading at ₹1,68,900 per kilogram in the domestic market. Despite the current dip, silver has risen by ₹16,500 per kg over the past week due to strong industrial demand and global cues.

In the international market, spot silver stands at $52.03 per ounce. The global fluctuations continue to influence Indian prices, especially as silver plays a crucial role in photovoltaic panels, electronics, medical devices, and high-tech components.

What to Expect in the Coming Days

Market experts believe that gold prices may remain volatile in the short term due to:

• Ongoing global economic uncertainty

• US Federal Reserve’s policy signals

• Fluctuations in the US dollar index

• Domestic wedding and festival demand

If the Fed delays rate cuts further, prices could dip more. However, strong festive demand in India may help support rates.

For buyers, the current dip could be a good opportunity to purchase gold ahead of the wedding season. Investors, too, are watching closely as gold continues to be a safe-haven asset in unpredictable economic conditions.