Patna: Gold prices increased on Tuesday, November 3, while silver rates declined, according to the India Bullion and Jewellers Association (IBJA). The price of 10 grams of 24-carat gold rose by Rs 594 to Rs 1,38,000, while silver fell by Rs 2,672 to Rs 1,77,000 per kilogram.
The latest movement comes after both precious metals recorded substantial declines during October. Gold became cheaper by Rs 8,084 per 10 grams during the month, while silver prices dropped by Rs 39,485 per kg.
Gold And Silver Rates On November 3
According to IBJA data, the latest changes in bullion prices are:
| Precious Metal | Previous Price | Price Change | November 3 Price |
| 24-carat gold (10 grams) | Rs 1,37,406 | +Rs 594 | Rs 1,38,000 |
| Silver (1 kg) | Rs 1,79,672 | -Rs 2,672 | Rs 1,77,000 |
Gold recorded an increase, whereas silver continued to face downward pressure.
These are indicative bullion rates. The final price at jewellery stores may vary depending on local taxes, GST, making charges and other applicable costs.
Gold Price By Carat: 24K, 22K And 18K
Gold prices vary according to purity. While 24-carat gold represents the highest purity commonly traded, 22-carat and 18-carat gold contain a lower proportion of pure gold.
Based on the reported 24-carat rate of Rs 1,38,000 per 10 grams, the approximate purity-based values are:
| Gold Purity | Approximate Price Per 10 Grams |
| 24-carat | Rs 1,38,000 |
| 22-carat | Rs 1,26,500 |
| 18-carat | Rs 1,03,500 |
Gold Becomes Cheaper By Rs 8,084 During October
Gold prices recorded a significant decline during October 2026.
On October 1, the price of 10 grams of gold stood at approximately Rs 1.48 lakh. By the end of the month, it had declined by Rs 8,084, according to the reported figures.
The decline was attributed to a stronger US dollar in international markets and selling by large investors after prices had reached elevated levels.
A stronger dollar can put pressure on gold prices because the precious metal becomes more expensive for buyers using other currencies.
Silver Falls By Rs 39,485 In October
Silver also witnessed a substantial correction during October.
On October 1, one kilogram of silver was priced at around Rs 2.20 lakh. Its price subsequently declined by Rs 39,485 during the month.
The fall was linked to the broader movement in precious metals, including the stronger US dollar and selling activity by large investors.
Despite Tuesday’s decline, silver remains significantly below its reported price at the beginning of October.
Expert Suggests Buying Gold And Silver In Instalments
An expert has suggested that buyers consider purchasing gold and silver in instalments rather than investing the entire amount at once.
According to the expert, buyers can make an initial purchase and consider additional purchases at intervals of around 15 to 20 days.
He also suggested taking a longer investment horizon of six months to one year rather than focusing on short-term price movements over one or two months.
Such views represent an expert’s market assessment. Actual prices may fluctuate depending on domestic and international market conditions, and investment decisions should take individual financial circumstances into account.
Two Things To Check Before Buying Gold Jewellery
Consumers should keep two important points in mind when purchasing gold from a jewellery store.
- Buy BIS-Hallmarked Gold
Buyers should check that the gold jewellery carries a valid Bureau of Indian Standards (BIS) hallmark. The hallmark helps establish the purity of the gold. Consumers should also check the applicable hallmarking details before completing a purchase.
- Cross-Check The Gold Rate And Weight
Buyers should verify the gold rate on the day of purchase through reliable sources, including IBJA’s published rates. The purity and weight of the jewellery should also be checked carefully.
