Gold, Silver Price Today 1 November 2026: 24K Gold Near ₹1.39 Lakh, Silver at ₹1.79 Lakh After October Correction
Gold and silver prices in India opened November on a weak footing, extending the sharp correction seen through October. On Sunday, 1 November 2026, 24-karat gold traded around ₹1,38,880 per 10 grams in Mumbai, while silver (999 fine) was quoted near ₹1,79,120 per kilogram. The weakness mirrors a global sell-off: Comex gold fell 7.26% in October to $3,884.9 an ounce, and Comex silver dropped 19.1% to $49.13 an ounce, according to The Hindu BusinessLine's 1 November analysis.
Both metals have now clocked negative returns for two consecutive months. Rising crude oil prices, worries about inflation, and expectations that US interest rates could stay higher for longer have dented precious-metal sentiment, even as geopolitical tensions in West Asia keep Brent crude elevated near $118 a barrel.
Gold, Silver Price Today: 1 November 2026 Rates
Retail bullion rates vary slightly by city and by source, and jewellers add GST and making charges on top. The indicative rates below are drawn from city-wise bullion reports published on 1 November 2026. Treat them as a guide and check the live rate before buying.
| City | 24K Gold (10g) | 22K Gold (10g) | Silver 999 (1 kg) |
|---|---|---|---|
| Delhi | ₹1,38,350 | ₹1,26,821 | ₹1,78,810 |
| Mumbai | ₹1,38,590 | ₹1,27,041 | ₹1,79,120 |
| Bengaluru | ₹1,38,700 | ₹1,27,142 | ₹1,79,260 |
| Chennai | ₹1,38,990 | — | ₹1,79,640 |
Per gram, the indicative national rates on 1 November were roughly ₹13,888 for 24K gold, ₹12,730 for 22K gold and ₹10,416 for 18K gold — down about ₹338, ₹310 and ₹253 per gram respectively from the previous session, as reported by Sunday Guardian's live rates page. On the MCX, gold settled October at ₹1,38,419 per 10 grams and silver at ₹1,78,900 per kilogram.
How Much Gold and Silver Fell in October
| Benchmark | October 2026 move | October-end level |
|---|---|---|
| Comex gold | −7.26% | $3,884.9 / ounce |
| Comex silver | −19.1% | $49.13 / ounce |
| MCX gold | −7.16% | ₹1,38,419 / 10g |
| MCX silver | −20% | ₹1,78,900 / kg |
For context, retail 24K gold was around ₹1,49,020 per 10 grams (₹14,902 per gram) on 6 October, as covered in our earlier gold price report. The fall to roughly ₹1.39 lakh per 10 grams by 1 November is a correction of about 7% in under a month — significant, but gold remains far above its levels from earlier in the year.
Why Are Gold and Silver Prices Falling?
- Stronger US dollar and higher-for-longer rate expectations: Stronger-than-expected US GDP growth (3.4%) and PCE inflation at 3.6% year-on-year have kept US rate-hike expectations alive, lifting the dollar and bond yields — both headwinds for non-yielding gold.
- Profit booking after a strong run: Precious metals had rallied hard through much of 2026; the October drop follows profit-taking as traders locked in gains.
- Crude-driven inflation worries: Brent crude near $118 a barrel raises inflation risks, which complicates the rate outlook for central banks and pressures gold.
- Technical breakdowns: Comex gold slid to a one-year low on 30 October, closing below the psychological $4,000 mark and breaching support at $3,900. Comex silver broke below $54 support and fell to $48.9 on 30 October.
What Analysts Are Watching Next
According to the BusinessLine technical analysis published on 1 November, the short-term trend for both metals is negative until key resistance levels are retaken:
- Comex gold: Next support at $3,650–$3,750; the weak outlook is invalidated only above $4,550.
- Comex silver: Vulnerable to a slide to $42–$43; needs a move past $55 to turn the outlook.
- MCX gold: Vulnerable to ₹1,30,000–₹1,32,000 per 10 grams; needs a move above ₹1,48,000 to invalidate the negative view.
- MCX silver: Weak toward ₹1,55,000–₹1,57,000 per kg; needs a move past ₹2,10,000 to turn.
These are technical levels from one analyst's column, not forecasts — they describe where selling pressure could ease or intensify, not where prices will definitely go.
What This Means for Buyers and Investors
- Physical buyers: A 7% monthly correction lowers the entry cost for jewellery and coins, but retail bills still add GST and making charges, so compare jewellers before buying.
- Investors: Gold ETFs and sovereign gold bonds track the metal, not the jewellery premium — a correction in MCX/Comex prices feeds through to those instruments too.
- Silver buyers: Silver's 20% monthly fall is far steeper than gold's, reflecting its higher volatility and industrial-demand sensitivity. The same volatility cuts both ways on any rebound.
- Currency angle: The rupee closed October at 94.95 per dollar, firmer than its record lows near 96.96, which softens the rupee cost of imported gold. Read our earlier coverage of the rupee's record low and the RBI's October rate hike for the macro backdrop.
FAQs
What is the gold price today, 1 November 2026?
Indicative retail rates on 1 November 2026 were around ₹1,38,880 per 10 grams for 24K gold in Mumbai (₹13,888 per gram), ₹12,730 per gram for 22K and ₹10,416 per gram for 18K. Rates vary by city and jeweller.
What is the silver price today, 1 November 2026?
Silver (999 fine) was quoted near ₹1,79,120 per kilogram in Mumbai and ₹1,78,810 in Delhi on 1 November 2026, close to the MCX October-end settlement of ₹1,78,900 per kg.
How much did gold fall in October 2026?
MCX gold fell 7.16% in October to ₹1,38,419 per 10 grams; Comex gold fell 7.26% to $3,884.9 an ounce. It was the second consecutive monthly decline for precious metals.
Why is silver falling faster than gold?
Silver is more volatile than gold and has a larger industrial-demand component, so it tends to fall harder in risk-off, strong-dollar phases — it dropped about 20% on MCX in October versus gold's 7.16%.
Is this a good time to buy gold?
Lower prices reduce the entry cost, but analysts cited above see further downside risk unless gold retakes ₹1,48,000 per 10 grams on MCX. Buyers should weigh their own horizon and avoid treating technical levels as buy/sell advice.
Conclusion
Gold and silver start November firmly in correction mode after a bruising October — gold down about 7% and silver down about 20% on MCX. The drivers (a firm dollar, rate expectations, profit booking and crude-led inflation worries) have not gone away, so near-term direction hinges on whether gold can hold above $3,650–$3,750 on Comex and ₹1,30,000–₹1,32,000 on MCX, or whether a rebound retakes ₹1,48,000. For Indian buyers, the practical takeaway is simpler: rates near ₹1.39 lakh per 10 grams for 24K gold and ₹1.79 lakh per kg for silver are the new reference points — check the live rate and the jeweller's final bill, including GST and making charges, before buying.
Disclaimer: Prices are indicative retail/MCX figures reported on 1 November 2026 and change through the day. This article is for information only and is not investment advice.