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Gold prices are soaring again, but not every metro is glittering the same. As rates near record highs, one city quietly beats the rest with surprisingly lower prices. Can you guess where gold still costs a little less to shine?
Price variation in metro cities
New Delhi: Gold prices across India registered a marginal rise on Tuesday, November 4, 2025, mirroring global trends and domestic investor sentiment. With inflation still sticky and markets volatile, gold continued to hold its ground as a preferred safe-haven asset.
But what’s drawing attention this week is not just the uptick- it’s the noticeable variation in gold prices across major metro cities, leaving buyers curious about where they can get the best deal.
According to Goodreturns, the national average price for 24-karat gold hovered around Rs 12,318 per gram, while 22-karat gold, the most common form used for jewellery, stood near Rs 11,291 per gram. 18-karat gold, popular in designer ornaments, traded close to Rs 9,239 per gram.
Gold rates drop marginally across India; Is this the right time to buy?
While the overall increase was marginal, analysts noted that rates were not uniform nationwide. Each city reflected its own demand pattern, dealer margin, and supply chain dynamics. Traders said these regional variations, though small, can influence where investors and jewellers choose to buy.
Experts explain that transportation costs, local taxes, and retail premiums create price gaps across metros. Markets with heavy retail demand or higher making-charge margins generally see elevated prices, whereas those dominated by large-volume bullion trading tend to offer tighter spreads.
Gold’s cultural significance in southern India, for instance, often drives higher local consumption and premium pricing. Meanwhile, cities with efficient trading networks or port-based supply channels enjoy comparatively lower rates.
Gold Rate Today: Prices continue to rise across India; Check city-wise rates
A closer look at Tuesday’s data shows that Chennai recorded the highest gold prices, with 24K gold at Rs 12,383 per gram and 22K at Rs 11,351. Delhi followed with Rs 12,333 per gram for 24K gold.
In contrast, both Mumbai and Kolkata offered the lowest rates among the major metros Rs 12,318 per gram for 24K and Rs 11,291 for 22K gold. These cities’ proximity to trading hubs and leaner distribution costs help keep prices marginally lower, making them more attractive to value-conscious buyers.
On the global front, gold remains steady as investors assess inflation trends and central-bank rate policies. Analysts expect Indian gold prices to stay range-bound with a mild upward bias in the near term, supported by investor demand and safe-haven appeal.
