Gold Prices Skyrocket in India (Nov 3, 2025): Record Highs, Rupee Woes & What’s Next
Gold prices in India are hovering near historic highs as of November 3, 2025. In Mumbai and Delhi, 24-carat gold is about ₹12,317 per gram, translating to ₹1,23,170 for 10 gramsindianexpress.com. This marks a slight uptick of ₹17 per gram from yesterdayindianexpress.com. 22-carat gold is around ₹11,290/gramindianexpress.com, while 18K gold stands near ₹9,238/gram. City-wise rates show minor variations due to local taxes and demand – for instance, Chennai quotes ~₹12,382 for 24K per gram, versus ~₹12,317 in Mumbaiindianexpress.com. Overall, prices are uniform nationwide, reflecting global trends plus import duties. Notably, domestic gold hit an all-time record just a few weeks ago. In early October 2025, 24K gold soared to roughly ₹132,770 per 10gindianexpress.com amid a buying frenzy. That peak came during the Dussehra-Diwali festive season when Indian demand typically spikes. Since then, prices eased by about ₹9,000 as profit-taking set in and global cues turned mixedindianexpress.com. Even with this pullback, gold is dramatically up from the start of the year – more than 50% higher YTD in rupee terms, as multiple sources notemoneycontrol.comthehansindia.com. For context, 10g of gold cost closer to ₹80,000 at the beginning of 2025; it’s now ₹1.23 lakh+. Such a rapid climb in a single year is
