New Delhi: After weeks of steady gains, gold prices across India saw a marginal decline of Rs 1 per gram. The current rate for 24K gold stands at Rs 12,314/g, while 22K gold trades at Rs 11,289/g and 18K gold at Rs 9,239/g. Despite this slight dip, bullion traders say the overall sentiment remains bullish, especially with the wedding and festive season around the corner. Investors are now weighing whether this minor correction could be the ideal entry point before another possible rally in gold prices.
Delhi-NCR Market Overview
In Delhi-NCR, 24K gold is priced around Rs 12,320 per gram, while 22K gold trades close to Rs 11,290 per gram. The region witnessed minor price adjustments due to stable international rates and limited physical buying. However, with wedding season shopping picking up, jewellers in Karol Bagh and Chandni Chowk expect a rebound in demand by mid-November. Retailers note that even a small price dip tends to encourage early buyers.
Mumbai Rates and Market Mood
Mumbai mirrors the national average, with 24K gold at Rs 12,314/g and 22K at Rs 11,289/g. Being India’s largest bullion hub, Mumbai often sets the benchmark for other cities. Traders believe this correction is temporary and that prices may firm up again once the physical buying season peaks. Investors are advised to buy gradually rather than wait for a major fall, as international cues remain positive for gold.
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Hyderabad, Chennai, Bangalore, and Kolkata Trends
In southern metros like Chennai and Hyderabad, gold rates remain nearly identical—24K gold at around Rs 12,330/g and 22K at Rs 11,305/g. Bangalore and Kolkata follow the same pattern, showing strong price uniformity across India. This parity reflects a consolidated national trend, influenced by global prices and the weakening rupee. Retail jewellers report stable footfall, with customers locking in rates in anticipation of price hikes closer to major wedding dates.
Is It the Right Time to Invest?
Financial experts view today’s slight dip as a healthy buying opportunity for long-term investors. Gold continues to serve as a hedge against inflation and economic uncertainty. With central banks maintaining high interest rates and geopolitical tensions still simmering, gold’s appeal as a safe-haven asset remains intact. Investors looking for portfolio stability may consider buying on dips rather than timing the absolute bottom.
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Future Price Predictions
Analysts predict a modest upward movement in gold prices through the next quarter. Global cues such as a potential softening of the US dollar, strong central bank buying, and persistent inflation could lift prices by 3–6% by early 2025. However, sharp short-term spikes are unlikely unless major geopolitical or economic disruptions occur. Overall, gold is expected to maintain its firm tone through the wedding season and beyond.
How the Wedding Season Could Impact Gold Prices?
The Indian wedding season traditionally fuels a surge in gold demand, particularly for jewellery and coins. With lakhs of weddings lined up from mid-November to February, jewellers are preparing for brisk sales. The festive push typically drives prices higher by Rs 100–Rs 300 per gram, depending on local demand and supply. While this year’s high base price may cap large jumps, steady upward pressure is expected as families begin purchasing gold ornaments for the marriage season.