Gold Rate Today in India Shines Brightest: 9% Rise in Only 5 Days as 24K, 22K & 18K Prices Jump on Nov 5
Domestic gold prices logged their fifth consecutive gain in November, surging over 9% in five sessions. 24K gold spiked by ₹3,220 to reach ₹1,46,020 per 10g while silver rallied by ₹10,000 to ₹2,10,000/kg ahead of peak Dhanteras and Diwali shopping.
9% Surge in 5 Days: Dhanteras Shopping Frenzy Ignites Bullion Counters
Gold prices in India posted their fifth consecutive session of gains on November 5, surging by approximately 9% over the past five trading days. The rapid advance represents a decisive turnaround from last week's brief pullback, driven by an accelerating retail shopping frenzy ahead of Dhanteras, Diwali, and the winter wedding calendar.
As of November 5, domestic 24-carat gold rates spiked by ₹3,220 per 10 grams to touch ₹1,46,020 in major consumption hubs. In parallel, 22-carat jewellery-grade gold rallied by ₹2,950 per 10 grams to retail at ₹1,33,850, while 18-carat gold jumped by ₹2,420 to reach ₹1,09,520 per 10 grams. Institutional and high-net-worth volume also expanded briskly, with 100 grams of 24-carat bar benchmark quoted at ₹14,60,200.
White metal tracked yellow metal with even greater momentum. Physical silver rates recorded a sharp single-day jump of ₹10,000 per kilogram to settle at ₹2,10,000/kg across national benchmarks, while 100-gram silver bars retailed at ₹21,000, up ₹1,000 within 24 hours.
- 24-Carat Spike:Spiked by ₹3,220 per 10 grams to settle at ₹1,46,020 in key metro centres.
- 22-Carat Rally:Gained ₹2,950 per 10 grams to touch ₹1,33,850/10g benchmark across southern and western markets.
- 18-Carat Growth:Climbed by ₹2,420 to reach ₹1,09,520 per 10 grams for diamond jewellery mounting.
- Silver Breakthrough:Jumped ₹10,000/kg in a single session to hit ₹2,10,000/kg across spot bullion yards.
City-Wise Physical Rates: Chennai, Mumbai, Delhi, Bangalore & Hyderabad
Physical cash quotes across India's leading jewellery clusters aligned uniformly around elevated national benchmark bands today. In Chennai, the standard 24-carat gold quote stood at ₹1,46,020 per 10 grams, while 22-carat jewellery metal fetched ₹1,33,850 per 10 grams.
Across Bangalore, Hyderabad, and Mumbai's Zaveri Bazaar, identical retail spot bands were maintained, supported by active counter sales and pre-booked Dhanteras deliveries. On the Multi Commodity Exchange (MCX), active December gold futures rallied 1.05% to trade near ₹1,44,850 per 10 grams, while December silver futures gained 0.30% to ₹1,88,304 per kg.
| Origin | Product | Purity / Spec | Term | Current Price | Prev Price |
|---|---|---|---|---|---|
| India (Chennai) | 24-Carat Pure Gold (999) | LBMA / BIS 999 Fine Bar | Retail Spot | ₹1,46,020 / 10g | ₹1,42,800 / 10g |
| India (Chennai) | 22-Carat Hallmark Gold (916) | BIS 6-Digit HUID Hallmark | Retail Jewellery | ₹1,33,850 / 10g | ₹1,30,900 / 10g |
| India (Mumbai) | 24-Carat Pure Gold (999) | Zaveri Bazaar Cash Quote | Wholesale | ₹1,46,020 / 10g | ₹1,42,800 / 10g |
| India (Mumbai) | 22-Carat Hallmark Gold (916) | Zaveri Bazaar Retail Benchmark | Retail | ₹1,33,850 / 10g | ₹1,30,900 / 10g |
| India (Delhi) | 18-Carat Hallmark Gold (750) | Diamond & Studded Jewellery Grade | Retail | ₹1,09,520 / 10g | ₹1,07,100 / 10g |
| India (Bangalore) | 22-Carat Hallmark Gold (916) | South India Retail Standard | Retail | ₹1,33,850 / 10g | ₹1,30,900 / 10g |
| India (National) | Silver Bar 999 Fine | 1 kg Industrial & Bullion Bar | Wholesale | ₹2,10,000 / kg | ₹2,00,000 / kg |
Global Drivers: COMEX $4,150 Surge & Central Bank Sovereign Accumulation
In the international market, spot gold breached $4,150 per ounce, climbing to a two-week peak. Market analysts link the sustained strength to political developments following the US mid-term elections, where legislative shifts stoked expectations of reduced geopolitical frictions in the Middle East, precipitating a drop in crude oil prices.
Softer crude oil prices have eased headline inflation expectations, potentially giving central banks wider room to relax monetary policies. An ICICI Commodity research dispatch noted that spot gold is expected to establish firm technical support near $4,050 and target $4,200 on dollar softening and lower US Treasury yields.
Furthermore, official sector demand remains exceptional. Central banks globally accelerated their third-quarter sovereign gold purchases at their fastest pace since late 2024, providing a resilient long-term floor beneath physical prices. CME FedWatch data indicated traders are assigning an 83% probability to upcoming policy shifts, while investors await the Bank of England rate decision and upcoming US nonfarm payroll prints.
- COMEX Milestone:Spot gold surged past $4,150/oz, supported by declining bond yields and dollar index softness.
- Central Bank Demand:Third-quarter sovereign accumulation recorded its quickest pace since late 2024.
- Crude Price Relief:Sharp dip in international oil prices eased inflation worries and strengthened rate-cut odds.
- Futures Alignment:MCX December contract commanded a steady premium at ₹1,44,850/10g with active open interest.
Market Outlook & Dhanteras Buying Advisory
With Dhanteras and Diwali approaching peak shopping intensity, physical jewellery demand across India is projected to stay exceptionally robust through mid-November. While the 9% five-day rally has escalated entry costs, consumers continue to prioritize gold as an auspicious asset and enduring hedge against currency volatility.
Todaybhav Research recommends consumers verify 6-digit BIS HUID hallmarking, transparent karat purity stamps, and current local mandi/bullion association rate parity before finalizing festive purchases. Any short-term dips towards the ₹1,42,000–₹1,44,000 zone are likely to attract aggressive physical accumulation.