Gold becomes cheaper by ₹10,643 in 3 weeks:Prices reach ₹1.20 lakh per 10 gm; silver rates fall by ₹30,090 in 24 days to ₹1,48,010 per kg

The price of gold has decreased by ₹10,643 in 21 days to reach ₹1,20,231 per 10 grams on Friday, 7 November 2025. While, on 17 October, its price had reached all-time high of ₹1,30,874. According to the India Bullion and Jewellers Association (IBJA), gold prices fell by ₹439 on 7 November . Prior to this, on Thursday, its price was ₹1,20,670 per 10 grams. Meanwhile, silver prices have fallen by ₹30,090 in 24 days to reach ₹1,48,010 per kilo. On 14 October, its price had reached all-time high of ₹1,78,100. Today, silver prices fell by ₹232. Yesterday, its price was ₹1,48,242 per kilogram. IBJA’s gold prices do not include 3% GST, making charges, and jewellers’ margin. Therefore, city rates are different from these. RBI uses these rates to determine Sovereign Gold Bond rates. Many banks use it to set gold loan rates. Gold prices according to carat Gold prices in major cities of the country Reasons for decline in gold-silver prices This year gold increased by ₹44,069 and silver by ₹61,993 Keep these 2 things in mind when buying gold 1. Buy only certified gold: Always buy certified gold with Bureau of Indian Standard (BIS) hallmark. This number can be alphanumeric like AZ4524. Hallmarking indicates how many carats the gold is. 2. Cross-check prices: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (like India Bullion and Jewellers Association website). Gold rates vary for 24 carat, 22 carat and 18 carat. 4 Reasons Why Gold Prices Differ in Cities 1. Transportation Costs: Gold is a physical item, so there are costs involved in transporting it. Most imports are done by air. Then gold needs to be transported to interior regions. Transportation costs include fuel, security, vehicles, staff payments etc. 2. Volume of Gold Purchases: Gold demand varies by city and state. South India accounts for about 40% of India’s total gold consumption. Here sellers buy gold in bulk which results in lower prices. Whereas in tier-2 cities, prices are higher. 3. Local Jewellery Association: Like in Tamil Nadu, the gold rate is determined by the Jewelers and Diamond Traders Association. Similarly, many other associations across the country set prices. 4. Gold Purchase Price: This is the biggest factor that affects gold rates in different cities. Jewelers who have purchased stock at lower prices can charge lower rates. ​