On November 8, Indian markets showed mixed trends as gold prices declined while silver edged up slightly. Rates vary by city due to local dealer margins, transport costs, and import factors, with final retail jewelry prices also subject to taxes.
Gold and silver prices in India witnessed mixed movements on Sunday, November 8, with the two precious metals showing contrasting trends in the domestic bullion market. According to All India Bullion, the latest reference rates from Mumbai’s Zaveri Bazar indicate a decline in gold prices, while silver registered a marginal increase compared with the previous close.
The latest update, timestamped 8:36 am on November 8, showed that gold prices had moved lower, whereas silver prices edged up slightly. The rates are reference prices and may vary across cities depending on local dealer premiums, transportation and insurance costs.
Gold and Silver City-Wise Rates – November 8, 2026
| City | 22K Gold (10g) | 24K Gold (10g) | Silver (1 kg) |
| Delhi | Rs 1,33,110 | Rs 1,45,310 | Rs 1,90,888 |
| Mumbai | Rs 1,32,920 | Rs 1,45,310 | Rs 1,90,813 |
| Kolkata | Rs 1,32,740 | Rs 1,44,910 | Rs 1,90,913 |
| Chennai | Rs 1,33,180 | Rs 1,45,400 | Rs 1,90,913 |
| Bengaluru | Rs 1,33,100 | Rs 1,45,300 | Rs 1,90,973 |
| Hyderabad | Rs 1,33,150 | Rs 1,45,360 | Rs 1,90,848 |
Why do gold and silver prices differ across cities?
Gold prices in India are influenced by several factors, including international bullion prices, currency movements, import-related costs and domestic demand. Changes in the rupee’s value against the US dollar can also influence the landed cost of imported gold.
Local market conditions further contribute to price differences between cities. Dealer margins, transportation expenses and insurance costs can result in variations even when markets follow the same broader benchmark.
For jewellery buyers, the displayed bullion rate is only the starting point. The final purchase price also includes making charges and applicable GST. Buyers should check the purity hallmark and HUID details before purchasing gold jewellery.
Silver prices, meanwhile, are influenced by both investment demand and industrial consumption. Its use in electronics, solar panels and other industries makes the metal sensitive to wider economic and industrial developments.