Gold Rate Today: 24K Gold at ₹1,40,805 per 10g on 11 November, Down ₹1,615

Key Takeaways

• IBJA 999-purity gold was quoted at ₹1,40,805 per 10 grams in the 11 November AM fixing, down ₹1,615 or 1.13% from ₹1,42,420 in the previous AM benchmark.
• IBJA 916-purity gold stood at ₹1,28,977 per 10 grams, compared with ₹1,30,457 previously.
• Silver 999 moved in the opposite direction, rising ₹495 or 0.27% to ₹1,86,495 per kilogram.
• IBJA benchmark rates exclude GST and making charges, so retail jewellery prices can differ from the benchmark.

IBJA 999 gold price was quoted at ₹1,40,805 per 10 grams in the AM fixing on 11 November 2026, compared with ₹1,42,420 per 10 grams in the preceding AM benchmark on 10 November.

That represents an absolute decline of ₹1,615 per 10 grams, or 1.13%. Silver moved differently, with the IBJA AM Silver 999 benchmark rising from ₹1,86,000 to ₹1,86,495 per kilogram.

Gold Rates on 11 November 2026

The benchmark values are quoted before GST and making charges.

How Much Did Gold Fall Today?

The 999-purity AM benchmark fell by ₹1,615 per 10 grams, from ₹1,42,420 to ₹1,40,805.

The percentage move was:

(₹1,40,805 − ₹1,42,420) ÷ ₹1,42,420 × 100 = -1.13%

The proportional decline was similar across the other published gold purities because IBJA purity rates move from the same underlying benchmark structure.

Silver diverged from gold during the AM comparison. At ₹1,86,495 per kg, the silver benchmark was ₹495 higher, an increase of approximately 0.27%.

What Is Driving Gold Prices?

International bullion entered Wednesday after a sharp decline in the preceding session. Spot gold subsequently edged 0.3% higher to around $4,044.56 per ounce in early international trade after falling nearly 3% the previous day.

The broader backdrop included stronger-than-expected US inflation. October US consumer prices rose 0.4% month on month against a 0.3% consensus estimate, while the two-year US Treasury yield rose to 4.731% and the benchmark 10-year yield reached 4.988%. The US dollar also strengthened as markets reassessed Federal Reserve policy expectations.

Higher interest-rate expectations can raise the opportunity cost of holding a non-interest-bearing asset such as gold. A stronger US dollar can also increase gold's cost for buyers using other currencies. For Indian prices, USD/INR movements additionally influence the rupee cost of imported bullion.

These mechanisms provide market context; they do not imply that any single variable alone determines domestic gold prices.

What Can Lower Gold Prices Mean for Indian Markets?

Jewellery Companies

A lower bullion benchmark reduces the rupee value of a fixed quantity of gold inventory, all else being equal. It can also alter working-capital requirements for jewellers because less capital is required to finance the same physical quantity at a lower benchmark price.

Actual effects depend on inventory timing, hedging arrangements, product mix and the extent to which raw-material movements are passed through to retail prices.

Consumer Demand

For a fixed quantity, the pre-tax benchmark cost was lower on 11 November.

For example, 10 grams of 999-purity gold cost ₹1,615 less at the IBJA AM benchmark than at the previous AM benchmark. The eventual consumer invoice can still include GST, making charges and retailer-specific costs.

Gold Imports

India imports a large portion of its gold requirement. If the international dollar price, exchange rate and physical import volumes are unchanged, a lower rupee gold price reduces the value associated with importing a fixed quantity.

Import values, however, also depend on global prices, the rupee-dollar exchange rate and actual volumes.

Gold-Loan Businesses

Gold prices influence the assessed value of pledged jewellery. For a fixed quantity and purity of collateral, a change in benchmark prices can change its assessed market value and consequently the rupee amount associated with a given regulatory loan-to-value ratio.

Broader Markets

Gold is monitored alongside currencies, interest rates and government-bond yields because it is a globally traded monetary and commodity asset.

Changes in these variables can alter relative asset valuations and capital allocation, but a move in gold alone does not determine the direction of Indian equities.