Gold and silver prices in India edged higher on Monday, November 2, 2026, amid expectations of prolonged high interest rates from the Federal Reserve due to persistent inflation. In the international market, gold hit a one-year low on Friday, while silver dropped below $50 an ounce for the first time since November 2025. Spot gold fell 2.7% to $3,910.53 per ounce, its lowest since October 2025, and US gold futures for December delivery dropped 2.8% to $3,919.60 per ounce. Spot silver declined 5.8% to $49.34 per ounce, its lowest since November 2025.
In the domestic futures market, MCX gold futures rose 0.40% to ₹1,39,400 per 10 grams, while MCX silver futures increased 1.15% to ₹1,82,250 per kg. Gold is available in different purities, with 24-karat gold being the purest form and 22-karat gold commonly used for jewelry. Silver 999, or 99.9% pure silver, is often used for investment purposes.
Here are the latest gold and silver prices in major Indian cities on November 2, 2026. In New Delhi, 24-karat gold was priced at ₹138,900 per 10 grams, and 22-karat gold at ₹127,325 per 10 grams. Silver 999 Fine was priced at ₹181,610 per kg. In Mumbai, 24-karat gold was ₹138,990 per 10 grams, 22-karat gold was ₹127,408 per 10 grams, and silver 999 Fine was ₹181,930 per kg. Similar rates were observed in Bengaluru, Kolkata, Hyderabad, and Chennai, with slight variations.