Silver Gold Prices Fall Across Major Jewellery Outlets and IBJA Rates

Overview of Silver Gold Prices

Precious metal markets experienced a downturn as silver gold prices declined across prominent retail jewellery networks and official association benchmarks. Major establishments such as Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas recorded reductions in their local showroom rates, following a broader October market correction driven by elevated crude prices and Federal Reserve rate jitters.

While most major retail brands marked decreases, performance varied slightly across specific regions and brands, noting that bullion values faced a sharp sell-off in the previous session before showing signs of a partial rebound in live market updates.

Retail Gold Rates and Market Trends

Retail figures across major metropolitan hubs highlighted varying price adjustments. For instance, Tanishq priced 22k gold jewellery at Rs 12,780 per gram in Delhi on November 2, 2026, matching its previous day's rate. Meanwhile, outlets like Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas listed 22k gold at Rs 12,775 per gram in Delhi, dropping from Rs 13,195 per gram recorded on October 31, 2026.

In other regions such as Mumbai, Chennai, Kolkata, Trivandrum, and Hyderabad, Tanishq's 22k gold stood at Rs 12,825 per gram on November 2, moving up from Rs 12,780 per gram the day before. Conversely, competing brands in those same cities adjusted downward to Rs 12,775 per gram from an earlier October 31 rate of Rs 13,195 per gram. In Bengaluru, those same competing brands maintained a rate of Rs 13,195 per gram.

IBJA Indicative Benchmarks

Data released by the India Bullion and Jewellers Association (IBJA) outlined specific pricing shifts between October 30 and November 2, 2026:

• Fine Gold (999): Dropped from Rs 14,005 to Rs 13,777 per gram (a decrease of Rs 228).
• 22 KT Gold: Fell from Rs 13,669 to Rs 13,447 per gram (a decrease of Rs 222).
• 20 KT Gold: Decreased from Rs 12,464 to Rs 12,262 per gram (a decrease of Rs 202).
• 18 KT Gold: Moved down from Rs 11,344 to Rs 11,160 per gram (a decrease of Rs 184).
• 14 KT Gold: Slipped from Rs 9,033 to Rs 8,886 per gram (a decrease of Rs 167).
• Silver (999): Declined from Rs 1,81,344 to Rs 1,80,080 per kg (a decrease of Rs 1,264).

Outlook on Bullion Correction

Market observers note that the recent adjustments follow a deeper October correction for bullion. As crude oil expenses remain elevated and concerns surrounding monetary policy persist, buyers and investors continue to monitor live rates closely across MCX and domestic storefronts to gauge upcoming trends.

Sources: The Economic Times, The Economic Times, The Times of India, ThePrint.