Gold prices in India have slipped once again, bringing some relief to buyers after several weeks of steady gains. On 21 November, rates declined in major cities due to a combination of weak global sentiment and a strong US dollar. The subdued international trend has directly impacted the domestic market, leading to lower prices for both 22-carat and 24-carat gold across the country.
Globally, spot gold dropped to $4,061.53 per ounce, signaling soft demand and increased pressure on precious metals. The stronger dollar has also made gold more expensive for buyers in other currencies, resulting in reduced purchasing interest worldwide. This decline on the global front has brought domestic gold rates down in India.
In the national capital, prices have registered a noticeable fall.
24-carat gold is now priced at ₹1,24,400 per 10 grams
22-carat gold stands at ₹1,14,040 per 10 grams
Delhi continues to reflect the nationwide trend of softer pricing as global cues remain weak.
Gold prices remained uniform across several major metro cities. In Mumbai, Chennai, and Kolkata, the rates were recorded as:
22-carat gold: ₹1,13,890 per 10 grams
24-carat gold: ₹1,24,250 per 10 grams
The consistency in pricing shows stable demand and similar market responses in western and southern India.
Pune and Bengaluru also witnessed a dip in gold prices, matching the broader national trend.
24-carat gold: ₹1,24,250 per 10 grams
22-carat gold: ₹1,13,890 per 10 grams
The price uniformity across cities indicates that domestic markets are closely tracking global fluctuations.
| City | 22 Carat (₹/10g) | 24 Carat (₹/10g) |
|---|---|---|
| Delhi | 1,14,040 | 1,24,400 |
| Mumbai | 1,13,890 | 1,24,250 |
| Ahmedabad | 1,13,940 | 1,24,300 |
| Chennai | 1,13,890 | 1,24,250 |
| Kolkata | 1,13,890 | 1,24,250 |
| Hyderabad | 1,13,890 | 1,24,250 |
| Jaipur | 1,14,040 | 1,24,400 |
| Bhopal | 1,13,940 | 1,24,300 |
| Lucknow | 1,14,040 | 1,24,400 |
| Chandigarh | 1,14,040 | 1,24,400 |
Several global financial institutions have shared their long-term outlook for gold.
Goldman Sachs predicts gold could reach $4,900 per ounce by December 2026.
ANZ expects prices to climb to $4,600 per ounce by mid-next year.
These estimates suggest that while short-term volatility may continue, long-term prospects remain positive due to economic uncertainties, geopolitical tensions, and central bank buying.
Similar to gold, silver prices fell on 21 November.
Domestic market rate: ₹1,64,900 per kg
Global spot silver: $50.73 per ounce
The decline in silver mirrors the overall trend in the precious metals market, driven by mixed global cues and domestic demand fluctuations.
The dip in gold and silver prices on 21 November offers an opportunity for buyers, especially those planning to invest during the wedding season or ahead of upcoming festivals. However, with global forecasts indicating possible future price increases, keeping an eye on market trends is essential for informed investment decisions.
