Gold prices saw a sharp correction this week, giving buyers a rare price dip as rates dropped by more than ₹3,300 on India’s MCX. The fall mirrored trends in the global market, where weakness in bullion dragged domestic prices lower.
Gold Prices Drop: What’s Behind the ₹3,351 Crash?
The MCX Gold December futures slipped 2.64% to ₹1,23,400 per 10 grams on November 15. Meanwhile, silver also posted a steep drop of over 4%, closing at ₹1,55,530 per kg.
According to analysts, recent comments from US Federal Reserve officials have shaken market sentiment. The possibility of delayed rate cuts pushed the dollar index higher, and that, in turn, added pressure on gold.
Commodity expert Jateen Trivedi explained that gold may continue to trade in a volatile band of ₹1,24,000–₹1,27,500 in the near term, as global cues remain mixed.
Gold Rates Over the Years: Long-Term Gains Still Strong
Despite the fall, gold has delivered exceptional long-term returns. Prices surged from ₹7,638 in 2005 to over ₹1,25,000 in 2025- a massive 1,200% jump. Even this year alone, gold has gained nearly 56% YTD, making it one of the strongest-performing assets.
Read Also :Gold Price Today: 22K & 24K Gold Rates for 8 Grams in 7 Major Indian Cities
Today’s Gold Prices in Top Indian Cities-November 15
Here’s a quick look at the latest 24K and 22K rates across major metros. Buyers must note that jewellers may add GST, making charges, and taxes to the final bill.
| City | 24K Gold (10g) | 22K Gold (10g) | Silver (1kg) |
|---|---|---|---|
| Mumbai | ₹1,23,680 | ₹1,13,373 | ₹1,55,880 |
| Delhi | ₹1,23,470 | ₹1,13,181 | ₹1,55,610 |
| Kolkata | ₹1,23,510 | ₹1,13,218 | ₹1,55,670 |
| Ahmedabad | ₹1,23,840 | ₹1,13,520 | ₹1,56,090 |
| Bengaluru | ₹1,23,780 | ₹1,13,465 | ₹1,56,000 |
| Hyderabad | ₹1,23,870 | ₹1,13,548 | ₹1,56,130 |
| Chennai | ₹1,24,040 | ₹1,13,703 | ₹1,56,330 |
FAQs
Q1: Why did gold prices fall today?
Gold prices dropped due to global weakness, stronger dollar index, and comments from Federal Reserve officials regarding delayed rate cuts.
Q2: Will gold prices rise again?
Analysts expect gold to remain volatile within a range, but long-term trends remain positive due to global economic uncertainty.
Q3: Are city-wise gold prices the same everywhere?
No, rates vary slightly due to local taxes, demand, and jeweller pricing policies.
