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As India marks the end of the five-day festive season with Bhai Dooj on Wednesday, 11 November, physical gold prices across retail markets reflect modest adjustments. Domestic spot gold reached ₹1,42,010 per 10 grams, up by ₹820 or 0.58 per cent, as buyers conclude festive and wedding purchases.

Physical gold rates across Indian regions

Across Indian retail counters, gold is sold in 24-karat, 22-karat, and 18-karat purities. On a national level, 24-karat gold trades at ₹14,198 for 1 gram and ₹1,13,584 for 8 grams, dipping by ₹71 and ₹568 respectively. For 22-karat gold, widely used in traditional jewellery, rates stand at ₹13,015 for 1 gram and ₹1,04,120 for 8 grams, down by ₹65 and ₹520. Meanwhile, 18-karat gold is priced at ₹10,649 for 1 gram and ₹85,192 for 8 grams, registering a decline of ₹53 and ₹424.

Regional prices show slight variations. In Northern India, New Delhi records ₹14,213 per gram for 24K, ₹13,030 for 22K, and ₹10,664 for 18K. In Western India, Mumbai and Pune report ₹14,198 per gram for 24K, ₹13,015 for 22K, and ₹10,649 for 18K, while Ahmedabad and Vadodara quote ₹14,203 for 24K, ₹13,020 for 22K, and ₹10,654 for 18K.

In Eastern India, Kolkata quotes ₹14,198 per gram for 24K, ₹13,015 for 22K, and ₹10,649 for 18K. Southern India displays consistent pricing, with Chennai at ₹14,198 per gram for 24K, ₹13,015 for 22K, and ₹10,650 for 18K. Bengaluru, Hyderabad, and Kerala align at ₹14,198 per gram for 24K, ₹13,015 for 22K, and ₹10,649 for 18K.

MCX gold trends and economic drivers

In derivative markets, gold futures on the Multi Commodity Exchange (MCX) rose to ₹1,41,470 per 10 grams, up by ₹945 or 0.67 per cent. International spot gold gained 0.34 per cent to trade around $4,045.568 per troy ounce.

This uptick follows higher-than-expected US inflation data, where October headline consumer prices rose 0.4 per cent month-on-month against estimates of 0.3 per cent. Tighter monetary policy expectations from the Federal Reserve keep sentiment cautious, though Brent crude oil briefly slipping below $90 per barrel offered mild support.

Looking ahead, Motilal Oswal Financial Services projects domestic gold targets at ₹1.48 lakh per 10 grams in the short term, and between ₹1.60 lakh and ₹1.68 lakh over six to twelve months. Analysts view price corrections near ₹1.35 lakh as a favourable accumulation zone. Domestic investment interest remains resilient, highlighted by a 71 per cent month-on-month rise in Indian gold ETF inflows during September to ₹4,450 crore.