Gold Prices Decline Across Major Indian Cities on November 11

Gold prices declined across most major metro cities in India on November 11, according to market data. The downward movement affected both 22-carat and 24-carat variants of the precious metal across different urban centers.

Nationwide, the average price for 1 gram of 22-carat gold stood at ₹13,095, marking a decrease of ₹195. Consequently, 8 grams of 22-carat gold dropped by ₹1,560 to reach ₹1,04,760.

In the national capital of Delhi, 22-carat gold was priced at ₹13,115 for 1 gram (down by ₹195) and ₹1,04,920 for 8 grams (down by ₹1,560). Meanwhile, 24-carat gold in Delhi was recorded at ₹13,771 for 1 gram, a decrease of ₹205, and ₹1,10,168 for 8 grams, down by ₹1,640.

In Mumbai, 22-carat gold dropped to ₹13,065 per gram, with 8 grams priced at ₹1,04,520. The 24-carat gold in Mumbai stood at ₹13,718 for 1 gram and ₹1,09,744 for 8 grams, registering identical decreases of ₹205 and ₹1,640 respectively.

Kolkata recorded 22-carat gold at ₹13,165 for 1 gram and ₹1,05,320 for 8 grams. The 24-carat gold in Kolkata was priced at ₹13,823 per gram and ₹1,10,584 for 8 grams. In Chennai, 22-carat gold was lower at ₹13,015 for 1 gram and ₹1,04,120 for 8 grams, while 24-carat gold stood at ₹13,666 per gram and ₹1,09,328 for 8 grams.

Bengaluru markets saw 22-carat gold at ₹13,125 for 1 gram and ₹1,05,000 for 8 grams, with 24-carat gold at ₹13,781 per gram and ₹1,10,248 for 8 grams. In Hyderabad, prices mirrored Chennai, with 22-carat gold at ₹13,015 per gram and 24-carat gold at ₹13,666 per gram.

Pune reported 22-carat gold at ₹13,065 for 1 gram and ₹1,04,520 for 8 grams, matching Mumbai rates, while 24-carat gold stood at ₹13,718 per gram and ₹1,09,744 for 8 grams. In Ahmedabad, 22-carat gold was priced at ₹13,119 for 1 gram and ₹1,04,952 for 8 grams, and 24-carat gold stood at ₹13,775 for 1 gram and ₹1,10,200 for 8 grams.

Across all tracked locations, the price reductions remained uniform at ₹195 per gram for 22-carat gold and ₹205 per gram for 24-carat gold.

"Fluctuations in commodity prices, such as the recent dip in gold rates across major Indian cities, are standard market occurrences driven by daily supply and demand dynamics. For businesses and entrepreneurs tracking broader economic indicators, monitoring raw material and commodity pricing remains essential for understanding consumer purchasing power and retail sentiment." — Dr. Shishir Gupta, Founder & CEO, StartupLanes