Gold Rate Today: 24K Gold at ₹1,38,118 per 10g on November 3, Up ₹346

Key Takeaways

• IBJA 999-purity gold was reported at ₹1,38,118 per 10 grams in the November 3 AM fixing, compared with ₹1,37,772 on November 2, an increase of ₹346 or 0.25%.
• Gold of 916 purity, commonly associated with 22K gold, stood at ₹1,26,516 per 10 grams, up ₹317 from the previous AM benchmark.
• Silver of 999 purity declined ₹2,780, or 1.54%, to ₹1,77,300 per kilogram from ₹1,80,080.
• The benchmark rates exclude GST and making charges, which can affect the final cost of jewellery purchases.

Gold Rate Today in India: November 3, 2026

Gold prices recorded a modest increase in the reported India Bullion and Jewellers Association morning benchmark on Tuesday, November 3, 2026.

The IBJA AM rate for 999-purity gold stood at ₹1,38,118 per 10 grams, compared with ₹1,37,772 in the previous trading day's morning fixing. This represented an absolute increase of ₹346, equivalent to approximately 0.25%.

Other gold purity categories also recorded increases. Silver, however, moved in the opposite direction, with the 999-purity benchmark declining by 1.54%.

The contrasting movements show why gold and silver should be assessed separately, even though both belong to the precious-metals market.

Gold and Silver Rates Today: IBJA AM Comparison

Gold rates are expressed in rupees per 10 grams, while silver rates are quoted per kilogram. These benchmark rates exclude GST and making charges.

How Much Did Gold Rise Today?

The price of 999-purity gold increased by ₹346 per 10 grams between the November 2 and November 3 morning fixings.

This represented a rise of approximately 0.25%.

For 22K gold, the benchmark increased by ₹317 per 10 grams, also representing an increase of approximately 0.25%.

The 18K benchmark rose by ₹260 to ₹1,03,589, while 14K gold increased by ₹202 to ₹80,799 per 10 grams.

Silver declined from ₹1,80,080 to ₹1,77,300 per kilogram, representing a larger percentage movement than gold during the comparable AM-to-AM period.

The silver benchmark therefore fell by ₹2,780 per kilogram, equivalent to approximately 1.54%.

What Is Driving Gold Prices?

Gold prices in India are influenced by several interconnected international and domestic factors.

International bullion quotations provide an important reference for domestic pricing. Movements in the US dollar, Treasury yields and expectations surrounding monetary policy can influence the global valuation of precious metals.

The USD/INR exchange rate is another relevant factor because internationally traded gold is generally priced in US dollars.

Changes in the exchange rate affect the rupee cost of imported bullion.

Geopolitical developments and demand for precious metals also contribute to price formation.

However, the increase recorded in the November 3 morning benchmark cannot be attributed exclusively to any single factor without corresponding market evidence.

What Can Higher Gold Prices Mean for Indian Markets?

Jewellery Companies

Gold represents a major raw-material component for jewellery manufacturers and retailers.

Changes in bullion prices can affect inventory valuations, procurement costs, working-capital requirements and hedging arrangements.

The financial impact depends on inventory levels, pricing mechanisms and how companies manage their gold exposure.

Consumer Demand

At the November 3 morning benchmark, 10 grams of 999-purity gold cost ₹1,38,118 before GST and making charges.

That is ₹346 more than the equivalent benchmark quantity on November 2.

For a 20-gram quantity, the difference would be ₹692 before additional charges.

Actual retail prices may differ according to purity, local premiums, jewellery design and other costs.

Gold Imports

India imports a substantial proportion of its gold requirements.

For a fixed quantity of imported bullion, higher international prices increase the dollar value of purchases. The final rupee cost also depends on exchange rates and applicable import duties.

Gold import spending forms part of India's merchandise trade account.

Gold-Loan Businesses

The market value of pledged jewellery is relevant when lenders determine collateral values.

Higher gold valuations can change the assessed value of eligible collateral, subject to applicable loan-to-value limits, purity adjustments and lender policies.

A change in the bullion benchmark does not automatically alter an existing loan's contractual terms.

Broader Financial Markets

Gold is monitored alongside currencies, government bond yields and other commodities.

Movements across these markets can reflect shared macroeconomic developments, but a single day's gold-price change does not establish the direction of equity markets.