Introduction
Gold has long been a preferred investment and ritual purchase in India. On November 6, the rate of gold showed signs of decline, offering both opportunities and caution for buyers and investors alike. In this blog, we’ll cover the key rates for 24-carat and 22-carat gold per 10 grams, understand what’s driving the drop, and highlight what you should watch out for.
📉 What’s Happening with Gold Rates Today
- Latest data show the domestic rate for 24-carat gold falling slightly, offering a brief window for buyers. For instance, the general rate is ₹12,147 per gram for 24K and ₹11,134 per gram for 22K. Goodreturns+2Groww+2
- On a per-10-gram basis: one source reports the drop to roughly ₹1,21,470 (for 24K) and ₹1,11,340 (for 22K) based on per-gram data ×10.
- In cities like Delhi, Mumbai etc., 24K is around ₹12,333 per gram (≈ ₹1,23,330 per 10g) and 22K around ₹11,291 per gram (≈ ₹1,12,910 per 10g). @mathrubhumi+2Moneycontrol+2
- The drop is modest but noteworthy given gold’s recent run-up and prevailing global headwinds. Possible contributing factors: easing safe-haven demand, moderate imports, and currency / interest rate dynamics.
📍 City-Wise Approximate Rates Per 10 Grams
Here are some indicative figures (always verify with local jewellers for exact rates):
- Delhi / Mumbai / major metros:
24 K ≈ ₹1,23,300 per 10 g, 22 K ≈ ₹1,12,900 per 10 g. @mathrubhumi+1 - Punjab region / smaller cities: Data shows somewhat lower/varied rates; for example in Punjab some sources show 24K around ₹120,770 per 10 g and 22K around ₹110,625 per 10 g. IIFL Finance+1
- Remember: Rates will vary by city, dealer, taxes, making charges, and gold purity certs.
✅ Why the Drop Matters
- For buyers: A decline offers a better entry point for jewellery purchases and investments. If you’ve been waiting for a small dip, this could be it.
- For investors: Gold is often used as hedge against inflation and currency/market risk. A drop may signal reduced safe-haven demand, or improved macro conditions.
- For retail demand: Jewellery purchases (especially festive/wedding) may get a boost if prices ease — but making charges & GST still matter.
⚠️ Things to Watch Before Buying
- Always check making charges, GST, and the final invoice. Even if the base rate drops, premiums may adjust.
- Verify purity: 24K means ~99.9% pure; 22K ~91.6%.
- Compare city-wise rates: Local taxes & transport cost can add significant difference.
- Timing: If you buy for short-term investment, consider market outlook (global gold prices, currency fluctuations).
- Consider alternate forms: Coins, bars or smaller grams may sometimes offer better value than heavy jewellery.
- Stay alert to offers/promotions from jewellers — sometimes they reduce making charge or offer discounts when base rates drop.
🔍 Outlook & Market Factors
- Global gold price trends: movements in US Fed policy, inflation data, currency exchange rates (₹/US$) all impact domestic rates.
- Domestic import duties & supply chain issues: India imports a large share of its gold — changes here ripple through local prices.
- Seasonal demand: Festive & wedding seasons in India typically raise demand and prices. A drop now may attract early buyers.
- Investor sentiment: If gold is seen less as safe-haven in the near term, prices may stay static or drop further.
📝 Conclusion
Today’s modest drop in gold rates for 24K and 22K presents a meaningful chance for buyers and investors alike. While not a dramatic plunge, the easing — especially per 10 grams — makes it a window worth considering. Ensure you check local rates, verify the total cost including making charges, and align your purchase or investment decision with your objectives.
If you’re in the market for gold, today might just be the moment to move — but only after doing your homework.
