Gold and silver prices witnessed a sharp correction in the domestic market on Sunday, with gold falling Rs 3,200 per 10 grams to a 10-month low in Delhi, while silver prices declined Rs 4,200 per kg, according to the All India Sarafa Association.
Gold of 99.9% purity was quoted at Rs 1,42,000 per 10 grams in Delhi, compared with the previous close, while silver declined to Rs 1,86,000 per kg.
The fall in precious metal prices comes amid profit booking, a stronger US dollar, elevated bond yields and fading expectations of early interest rate cuts in the United States.
The correction has attracted the attention of jewellery buyers and investors looking to purchase gold and silver at relatively lower prices.
Gold and silver prices today, November 1, 2026: City-wise rates
According to retail price data published by LiveMint, gold and silver rates in major Indian cities on Sunday were as follows:
| City | 24K gold (10g) | 22K gold (10g) | Silver (1kg) |
|---|---|---|---|
| Delhi | Rs 1,43,980 | Rs 1,31,982 | Rs 1,96,350 |
| mumbai | Rs 1,44,230 | Rs 1,32,211 | Rs 1,96,690 |
| Bengaluru | Rs 1,44,340 | Rs 1,32,312 | Rs 1,96,840 |
Rates are indicative retail quotes for November 1, 2026. Actual prices may vary by jeweller and locality. GST and jewellery making charges may be additional.
The city-wise retail figures differ from the All India Sarafa Association’s Delhi bullion benchmark because the two reflect different market pricing methods.
Why are gold and silver prices falling?
Several global factors have contributed to the recent correction in precious metal prices:
- Profit booking: Investors have been booking profits following the earlier rally in gold and silver.
- Stronger US dollar: A stronger dollar has reduced the attractiveness of precious metals for international buyers.
- Higher bond yields: Rising bond yields have put pressure on non-interest-bearing assets such as gold.
- US Federal Reserve outlook: Expectations of interest rates remaining elevated have affected demand for precious metals.
- Industrial demand concerns: Silver has additional exposure to industrial demand, making it more vulnerable to market volatility.
Should you buy gold and silver now?
The recent price correction has brought gold and silver into focus for investors. However, market experts caution that a sharp fall does not necessarily indicate that prices have reached their bottom.
Investors considering gold and silver ETFs can look at staggered investments instead of committing a large amount at once. Gold ETFs generally offer exposure to gold prices, while silver ETFs carry additional volatility because of the metal’s industrial demand.
For long-term investors, gradual accumulation may help manage the risk of entering the market at an unfavourable price. Investors should also compare expense ratios, tracking errors and liquidity before selecting an ETF.
Precious metals can help diversify a portfolio, but their prices remain subject to global economic conditions, currency movements and interest-rate expectations.