Gold Rate Today began November 2, 2026, on a firmer note, with December gold futures opening ₹518 higher at ₹1,39,003 per 10 grams on the Multi Commodity Exchange (MCX). Silver Prices also opened higher: the December contract rose ₹1,962 to ₹1,81,094 per kilogram. These were opening quotes, not fixed prices for the day.

For readers following news Gold Rate Today updates, figures can vary across websites because futures, indicative bullion rates and jewellery bills measure different things. The rebound follows last week's sharp losses in precious metals rather than confirming a new sustained rally.

Gold Rate Today and Silver Prices: What MCX Futures Show

According to Business Standard, December gold traded near ₹1,38,733 per 10 grams later in the morning, while silver was around ₹1,81,125 per kilogram. Earlier, at approximately 9:13 am IST, gold futures reached ₹1,39,400 and silver reached ₹1,82,250. Both snapshots can be correct because markets move continuously.

For anyone looking up Gold price India today, MCX quotes are futures contracts with a specified expiry. They should not be confused with jewellers' selling prices, which depend on purity, location and product charges.

Retail Gold Prices: 24K, 22K and 18K Compared

Indicative figures quoted on November 2 included a 24 carat gold rate near ₹1,39,020 per 10 grams in Mumbai and a 22K gold price of ₹1,27,435. The 18 carat gold prices quoted for the city were ₹1,04,265 per 10 grams, according to Mint.

The 24 carat gold rate refers to higher-purity gold, while the 22K gold price generally relates to 22-carat jewellery metal. The 18 carat gold prices reflect lower gold content. The eventual jewellery bill can also include making charges and GST, so a benchmark rate is not necessarily the amount payable.

City-Wise Gold and Silver Rates on November 2

Mint's November 2 report provides the following indicative quotations:

Another publisher quoted Delhi at ₹1,39,101 and Chennai at ₹1,40,295 for 24K gold. These represent different reported price series, not proof that each city has a single universal rate. Silver Prices can likewise differ by reporting source, purity, quotation time and included charges.

Why Gold and Silver Rebounded After Last Week

December gold futures lost ₹3,539, or approximately 2.5%, over the preceding trading week; silver fell ₹16,587, or 8.5%. Those were week-on-week declines reported on Sunday, November 1, not trades executed that day. Reuters reported spot gold near $3,903.90 an ounce and spot silver near $50.33 on November 2. Falling global crude prices helped ease inflation concerns and affected expectations for US interest rates.

India crude oil prices also matter for domestic inflation and import costs, but their effect on bullion is not automatic. Changes in India crude oil prices must be considered alongside the rupee, overseas gold quotations and investor demand.

What Buyers Should Watch Next

Gold price India today searches can present a futures quotation beside an indicative retail rate without explaining the difference. For reliable news Gold Rate Today comparisons, check the reporting time, purity, unit and whether GST or making charges are included.

The recovery in precious metals faces further tests from the November 3 US midterm elections, the November 6 US jobs report and Federal Reserve policy signals. Silver Prices and gold could remain volatile, making it important to obtain a written, itemised local quotation before purchasing.