Gold witnessed its worst-ever October and it seems like the weakness appears far from over, as gold and silver rates continued to fall and remained on track to reach December 2025 levels. The sharp correction in precious metals came as crude oil price volatility, sticky inflation, and US Federal Reserve’s outlook continued to weigh on investors sentiment.
As gold prices remained weak on Sunday, November 1, let’s understand key factors that are dragging the yellow metal’s momentum.
The gold rate in India saw a sharp decline on Sunday, November 1, 2026. Gold of 99.9% purity declined by ₹3,200 to ₹1,42,000 per 10 grams, including all taxes, PTI reported citing the All India Sarafa Association. The precious metal closed at ₹1,45,200 per 10 grams on Friday. The precious metal was quoted at ₹1,42,300 per 10 grams on December 26, 2025.
Silver's roller-coaster ride in 2026 appears to be heading towards another steep downturn, with prices on track to retreat to their December 2025 levels. The dramatic reversal in silver prices’ trajectory comes after the precious metal surged to record highs in January 2026.
Silver rate in India declined to ₹4,200 to ₹1,86,000 per kilogram, inclusive of all taxes, from the previous close of ₹1,90,200 per kg, as per PTI report.