Gold, Silver Rates Today, November 1: Prices Fall Check Latest Rates In Bengaluru, Delhi, Mumbai & More

(MENAFN- AsiaNet News)

Gold and silver prices witnessed a sharp decline on Sunday, November 1, amid growing concerns over inflation, rising energy costs and expectations of tighter monetary policy in the United States. The correction in precious metal prices followed a volatile October, with both commodities facing pressure from changing global economic conditions.

According to a report cited by LiveMint, gold prices declined in the domestic bullion market, extending the recent downward trend. Silver also continued to lose ground, reflecting weakness across the precious metals segment. The latest movement comes as investors reassess their positions amid uncertainty surrounding interest rates and global economic developments.

Buyers planning jewellery purchases or monitoring precious metal investments can check the following table for the latest retail rates in their respective cities.

City-wise gold and silver rates on November 1

City	22K Gold (10g)	24K Gold (10g)	Silver 999 (1kg)
Delhi	Rs 1,26,821	Rs 1,38,350	Rs 1,78,810
Mumbai	Rs 1,27,041	Rs 1,38,590	Rs 1,79,120
Kolkata	Rs 1,27,408	Rs 1,38,400	Rs 1,78,880
Chennai	Rs 1,26,867	Rs 1,38,990	Rs 1,79,640
Bengaluru	Rs 1,27,142	Rs 1,38,700	Rs 1,79,260
Hyderabad	Rs 1,27,243	Rs 1,38,810	Rs 1,79,400

In international markets, spot gold recorded a significant fall on Friday, closing at its lowest level in more than a year. Spot silver also witnessed a steep decline, reflecting the broader weakness in the bullion market.

Commenting on the market movement, Rajeev Sharan, Head of Research at Brickwork Ratings, said October had been a volatile month for both precious metals. He attributed the correction to several factors, including profit booking by investors, a stronger US dollar, elevated bond yields and fading expectations of early interest rate cuts.

These developments have weighed on investor sentiment, with expectations of tighter US monetary policy reducing the appeal of non-yielding assets such as gold and silver.

For Indian consumers, retail prices continue to differ across cities because of variations in local market conditions and other applicable charges. The latest city-wise rates cover 18K, 22K and 24K gold, along with 999 Fine silver, across major jewellery markets.

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