Silver, gold prices today: 24K gold slips to ₹1.37 lakh, silver below ₹1.80 lakh/kg; check latest 24K, 22K gold rates

Gold and silver prices witnessed a decline in the domestic bullion market on Monday, 2 November, with both precious metals ending lower in the latest evening benchmark fixing published by the India Bullion and Jewellers Association (IBJA).

The correction comes as investors track volatility in global bullion markets and reassess their exposure to precious metals after a period of sharp price movements.

The latest IBJA PM rates showed that 24-karat gold of 999 purity fell to ₹1,37,524 per 10 grams, down ₹2,530 from the previous published evening fixing on 30 October. The price of 22-karat gold of 916 purity declined by ₹2,299 to ₹1,25,990 per 10 grams. Silver prices also weakened, with 999-purity silver falling ₹1,372 to ₹1,79,972 per kg.

For consumers planning to buy gold jewellery, coins or silver, the latest correction offers a fresh reference point for comparing bullion prices. However, the final retail price will vary across cities and jewellers, depending on GST, making charges and other applicable costs.

Gold and silver rates today, 2 November: Latest IBJA prices

Here is a look at the latest IBJA benchmark rates for different purities of gold and silver.

The IBJA also published its morning fixing, with 24K gold at ₹1,37,772 per 10 grams and silver at ₹1,80,080 per kg. The evening rates were lower than the morning benchmarks.

How much did gold and silver prices fall?

Compared with the previous published evening benchmark on 30 October, gold and silver recorded the following changes:

Gold and silver benchmarks were lower than their previous published evening levels, according to IBJA data.

What should gold and silver buyers know?

The IBJA rates serve as national benchmark prices for gold and silver. However, the actual amount consumers pay at jewellery stores can differ depending on the city, jeweller and applicable charges.

The 24K variety has 99.9% purity and is commonly used for investment products such as gold bars and coins. Meanwhile, 22K gold contains 91.6% pure gold and is widely used in jewellery making.

Buyers should remember that the IBJA benchmark rates do not include GST and making charges. A 3% GST is applicable on gold and silver purchases, while jewellery buyers also need to account for making charges and other applicable costs.