Gold and Silver Price Today: Gold and silver prices remain in focus as India's wedding season approaches, with buyers closely monitoring precious metal rates before purchasing jewellery. The latest market figures cited in a November 3, 2026 report indicate movement in gold and silver futures on the Multi Commodity Exchange (MCX).

Although gold and silver gained from their opening levels during the trading session described in the report, gold futures were still trading below their previous closing price.

Meanwhile, retail gold rates varied across major cities, including Delhi, Mumbai, Chennai, Kolkata, Ahmedabad, and Lucknow.

Consumers planning to purchase jewellery should compare current market prices, purity, making charges, and applicable taxes before making a final decision.

MCX Gold Price: Latest Futures Market Update

According to the supplied report, gold futures for the December 5 expiry opened at ₹1,21,435 per 10 grams.

The previous trading session had closed at ₹1,21,854 per 10 grams.

By approximately 9:55 AM during the session described, gold futures were trading at ₹1,21,620 per 10 grams.

The report also mentions an early-session high of ₹1,21,854 per 10 grams.

Here is a summary of the quoted figures:

Gold recovered by ₹185 per 10 grams from its opening level to the quoted 9:55 AM price.

However, it remained ₹234 below the previous closing price.

This distinction is important because an increase from the opening price does not necessarily mean that gold has gained compared with the previous trading session.

Note: The source describes these MCX figures as Monday's trading data, even though the article is dated Tuesday, November 3, 2026. They should not be treated as independently verified live Tuesday prices.

Silver Price Update: MCX Silver Trades Above Opening Level

Silver futures also showed an upward movement from their opening price during the session covered by the report.

The quoted opening price of silver was ₹1,48,791 per kilogram.

At the time referenced in the article, silver was trading at ₹1,49,078 per kilogram.

This represents an increase of ₹287 per kilogram from the opening level.

Silver prices can fluctuate significantly during trading hours, depending on global commodity markets, industrial demand, currency movements, and investor sentiment.

Buyers should also remember that futures prices and retail silver prices are not necessarily identical.

Gold Price Today: City-Wise 24K, 22K and 18K Rates

Gold prices differ across Indian cities because of local market conditions, transportation expenses, dealer margins, and other pricing factors.

The following rates are quoted in the supplied report for 10 grams of gold.

These are the city-wise rates provided in the source article, not independently verified live bullion prices. Actual jewellery prices may include GST, making charges, and other applicable costs.

Delhi Gold Rate: Latest 24-Carat and 22-Carat Prices

According to the report, the price of 24-carat gold in Delhi is ₹1,23,320 per 10 grams.

The quoted price of 22-carat gold is ₹1,13,030 per 10 grams, while 18-carat gold costs ₹92,510.

Gold buyers in the national capital should check the latest rates with authorised jewellers before purchasing ornaments or investment products.

The final amount payable may be higher than the quoted gold value because of making charges and applicable taxes.

Mumbai and Kolkata Gold Prices

Mumbai and Kolkata have identical gold rates in the supplied city-wise list.

In both cities, 24-carat gold is quoted at ₹1,23,170 per 10 grams.

The reported price of 22-carat gold is ₹1,12,900, while 18-carat gold stands at ₹92,380 per 10 grams.

Customers purchasing jewellery should compare rates across multiple stores, as the total bill can vary depending on the design and making charges.

Chennai Gold Price: Rates Higher Than Several Other Cities

Among the cities covered in the report, Chennai has the highest quoted 24-carat gold price.

The rate stands at ₹1,23,820 per 10 grams.

Meanwhile, 22-carat gold is listed at ₹1,13,500, and 18-carat gold at ₹94,750.

The quoted 24-carat gold price in Chennai is ₹650 higher than the corresponding rate in Mumbai.

However, these figures represent a snapshot from the supplied report and may change during subsequent market updates.

Ahmedabad and Lucknow Gold Rates

In Ahmedabad, 24-carat gold is quoted at ₹1,23,220 per 10 grams.

The reported price of 22-carat gold is ₹1,12,930, while 18-carat gold stands at ₹92,410.

In Lucknow, the quoted rate for 24-carat gold is ₹1,23,320 per 10 grams.

The price of 22-carat gold is ₹1,13,030, and 18-carat gold is listed at ₹92,510.

Buyers in both cities should verify the current market price before visiting jewellery stores.

Why Are Gold and Silver Prices Fluctuating?

Precious metal prices are influenced by several international and domestic developments.

Global gold prices, movements in the US dollar, interest-rate expectations, geopolitical uncertainty, and investment demand can affect market sentiment.

In India, the rupee-dollar exchange rate also plays an important role because gold is largely imported.

When the rupee weakens against the US dollar, imported gold can become more expensive in domestic currency terms.

Silver prices are additionally influenced by industrial demand because the metal is used in electronics, solar technology, and other manufacturing applications.

These factors can create frequent changes in both futures and retail prices.

Wedding Season May Support Jewellery Demand

Gold holds significant cultural and traditional importance in Indian weddings.

Families often purchase gold jewellery for marriage ceremonies, gifts, and other auspicious occasions.

As wedding-related shopping increases, jewellery demand may strengthen in several markets.

Silver ornaments, utensils, coins, and decorative products may also attract buyers during the festive and wedding season.

However, stronger seasonal demand does not guarantee that prices will rise.

International market developments and currency fluctuations can outweigh local buying trends.

What Should Buyers Check Before Purchasing Gold?

Consumers planning to buy gold jewellery should pay attention to purity and the final billing amount.

A 24-carat gold product generally contains a higher proportion of gold than 22-carat or 18-carat products.

While 24-carat gold is commonly associated with investment-grade products, 22-carat and 18-carat gold are frequently used for jewellery, depending on the design and durability requirements.

Customers should look for appropriate BIS hallmarking and verify the Hallmark Unique Identification (HUID) where applicable.

They should also ask jewellers to clearly disclose the gold weight, purity, making charges, applicable taxes, and final price.

Comparing these details across different sellers can help buyers make a more informed purchase.

Final Takeaway

The supplied November 3, 2026 report highlights movements in gold and silver futures alongside city-wise retail gold prices.

Gold futures were quoted at ₹1,21,620 per 10 grams during the reported trading session, while silver futures stood at ₹1,49,078 per kilogram.

Among the listed cities, 24-carat gold was quoted at ₹1,23,820 in Chennai, ₹1,23,320 in Delhi and Lucknow, and ₹1,23,170 in Mumbai and Kolkata.

With wedding-season demand in focus, buyers should continue monitoring prices and compare jewellery costs before making purchases.