Gold Price Today, November 2, 2026: Gold prices have come under pressure in domestic and international markets, bringing an important update for buyers planning to purchase jewellery or invest in the precious metal during the festive season.

With gold remaining a popular choice for Diwali shopping, weddings and long-term savings in India, even a small change in prices can influence purchasing decisions.

According to the November 2 market report, gold futures on the Multi Commodity Exchange (MCX) declined to ₹1,38,419 per 10 grams, compared with the previous closing price of ₹1,38,485.

The reported decline comes amid selling pressure in international bullion markets, where gold prices have also experienced significant fluctuations.

However, gold rates differ across cities, purity levels and market sources. Buyers should therefore check the latest local prices before visiting a jewellery store.

Gold Price Today: What Are the Latest Rates?

According to the source report, the benchmark price of 24-carat gold in the domestic bullion market was approximately ₹1,38,850 per 10 grams.

Meanwhile, international gold was reported to be trading near $3,910 per troy ounce.

The report also cites the All India Sarafa Association, stating that the price of gold with 99.9% purity in Delhi had declined to ₹1,42,000 per 10 grams, including applicable taxes.

Different market quotations can vary because of differences in timing, tax treatment, purity and pricing methodology.

The indicative retail rates quoted for different gold purity levels are:

These figures are based on the supplied November 2 report and should not be treated as independently verified live market quotations.

Gold Rates in Major Indian Cities on November 2, 2026

Gold prices can differ between cities because of local market conditions, dealer quotations and other factors.

According to the source report, the following indicative rates were available for major Indian markets.

Note: All rates are quoted per 10 grams. The final jewellery purchase price may include GST, making charges, wastage charges where applicable and other retailer-specific costs.

Gold Prices Drop Sharply in Delhi Bullion Market

The source report highlights a substantial decline in gold prices during the previous trading session.

According to figures attributed to the All India Sarafa Association, gold with 99.9% purity fell by ₹3,200 per 10 grams in the Delhi bullion market.

The reported price movement was as follows:

• Previous quoted price: ₹1,45,200 per 10 grams
• Revised quoted price: ₹1,42,000 per 10 grams
• Total reported decline: ₹3,200 per 10 grams

The report describes the revised price as one of the lowest levels recorded since December 2025.

It also refers to a December 26, 2025 quotation of ₹1,42,300 per 10 grams.

Such sharp changes can influence short-term buying decisions, particularly among consumers purchasing gold for weddings and festive occasions.

However, the figures relate to a specific bullion-market quotation and should not be directly compared with every retail jewellery price.

International Gold Market Also Faces Selling Pressure

The weakness in domestic gold prices has coincided with reported declines in international bullion markets.

According to the article, spot gold fell by approximately $145.84, or nearly 4%, during Friday's trading session.

The reported closing price was $3,875.55 per troy ounce.

The source describes this as the lowest international level since October 2025.

Global gold prices are influenced by several factors, including the strength of the US dollar, interest-rate expectations, inflation trends, geopolitical developments and investor demand.

When international gold prices decline, domestic bullion prices may also face downward pressure.

However, movements in the Indian rupee against the US dollar can affect how global price changes are reflected in local markets.

MCX Gold Futures: What Does the Latest Decline Indicate?

The Multi Commodity Exchange provides a platform for trading commodity futures, including gold.

The November 2 report quotes MCX gold futures at ₹1,38,419 per 10 grams, compared with the previous closing level of ₹1,38,485.

This represents a reported decline of ₹66 per 10 grams.

Futures prices reflect market expectations and trading conditions for a particular contract.

They should not be confused with the price a customer pays for physical gold jewellery.

Retail gold purchases may involve additional costs, while futures contracts have their own specifications, expiry dates and trading risks.

Why Are 24K, 22K and 18K Gold Prices Different?

Gold is sold in different purity grades, and the price depends partly on the proportion of pure gold present.

24-Carat Gold: This is the highest commonly marketed purity category and is generally preferred for certain investment products, including coins and bars.

22-Carat Gold: Containing approximately 91.6% gold, this category is widely used for traditional Indian jewellery.

18-Carat Gold: Containing 75% gold, this grade is commonly used in jewellery designs that require greater hardness or involve gemstone settings.

Consumers should compare prices only after confirming the purity and weight of the product.

Important Things to Check Before Buying Gold Jewellery

A fall in gold prices may encourage consumers to purchase jewellery, but the quoted metal rate is only one part of the total cost.

Before buying, customers should verify the gold's purity, net weight and applicable charges.

Purchasing BIS-hallmarked jewellery and checking the Hallmark Unique Identification number through the official BIS Care application can provide additional assurance about the product's authenticity.

Buyers should also request a detailed invoice showing the gold weight, purity, rate, making charges and applicable taxes.

Comparing quotations from multiple trusted jewellers can help consumers understand differences in pricing.

Will Gold Prices Fall Further?

Predicting short-term gold prices is difficult because the market responds to several international and domestic developments.

Changes in global interest-rate expectations, currency movements and investor sentiment can influence prices over relatively short periods.

Festive and wedding-season demand may also affect local market conditions.

Consumers buying jewellery for personal use should focus on their budget, product quality and total purchase cost rather than relying solely on short-term price predictions.

Those considering gold as an investment should evaluate their financial goals and understand the risks associated with market fluctuations.

Final Takeaway: Check Your City's Gold Rate Before Buying

Gold prices have experienced a reported decline in both domestic and international markets, with MCX futures quoted at ₹1,38,419 per 10 grams in the November 2 update.

The source report lists 24-carat gold at ₹1,39,030 per 10 grams in Delhi and ₹1,38,880 in Mumbai, Kolkata and Chennai.

However, actual retail prices can differ depending on the jeweller, purity, taxes and additional charges.

Before purchasing gold, compare current local rates, verify BIS hallmarking and check the complete bill to avoid unexpected expenses.

Source: Rewritten from a Journal India report dated November 2, 2026. Prices and market movements are attributed to the supplied report and have not been independently verified against live bullion-market data.