Gold Rate Crashes Rs 26,200 In 2-Days: India Gold Prices Vs Gold Rates In UAE, Saudi, USA, Who Sells Cheaper?

Gold rates in India have crashed for two days straight, and yet they are more expensive compared to countries like Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and USA as well. November 11th marks the last day of the Diwali festival; however, physical gold prices are under pressure despite a rally in the global market. This is due to the hotter-than-expected US CPI inflation reading, which has strengthened the case for a rate hike in December, which makes non-yielding assets like gold less attractive in comparison to the dollar. Nonetheless, let's find out which country sells gold cheaper.

Answer: There are countries that are selling 24-carat gold below Rs 13,000 per 1 gram and at the Rs 130,000 mark in 10 grams. And it is not India!

Gold Rates In India:

On November 11, 2026, 24-carat gold price plunged by Rs 7,100 to Rs 14,19,800 per 100 grams and dropped by Rs 710 to Rs 1,41,980 per 10 grams. Meanwhile, 22-carat gold rates declined Rs 6,500 to Rs 13,01,500 per 100 grams and 10 grams gold here slipped by Rs 650 to Rs 1,30,150. Furthermore, 18-carat gold prices slipped by Rs 5,300 to Rs 10,64,900 per 100 grams and down by Rs 530 to Rs 1,06,490 per 10 grams.

The 1 gram gold price in India is at Rs 14,918 in 24-carat or 999 purity, at Rs 13,015 in 22-carat or 995 purity and at Rs 10,649 in 18-carat or 750 purity.

Weight	24K Gold	22K Gold	18K Gold
1 gram	₹14,198 (-₹71)	₹13,015 (-₹65)	₹10,649 (-₹53)
8 grams	₹1,13,584 (-₹568)	₹1,04,120 (-₹520)	₹85,192 (-₹424)
10 grams	₹1,41,980 (-₹710)	₹1,30,150 (-₹650)	₹1,06,490 (-₹530)
100 grams	₹14,19,800 (-₹7,100)	₹13,01,500 (-₹6,500)	₹10,64,900 (-₹5,300)

Prior to this, gold prices in the country had crashed by Rs 19,100 and Rs 17,500 in 100 grams of 24-carat and 22-carat. In two consecutive days, the decline is at Rs 26,200 and Rs 24,000 in these two carats.

Despite the sharp decline, gold prices in India are still expensive compared to other countries, especially in Middle East where US and Iran war has impacted market heavily.

Gold Rates In UAE Vs Gold Rates In Saudi Arabi vs Gold Rates In Kuwait vs Gold Rates In Oman vs Gold Rates In Qatar:

The 24-carat gold price stood at Rs 12,620 in Oman in 1 gram, while the same gold is priced at Rs 12,583 in Qatar, at s 12,521 in Saudi Arabia, at Rs 12,638 in Kuwait and at Rs 12,402 in UAE markets including Dubai and Abu Dhabi.

In their local currencies, 24-carat gold price stood at KWD 41.53 in Kuwait, at OMR 51.80 in Oman, at QAR 489 in Qatar, at SAR 501 in Saudi, and at AED 485 in UAE.

Gold Rates In USA:

Here, 1 gram gold price stood at Rs 12,477 in 24-carat. In local currency, 1 gram gold is priced at $133 in 24-carat, at $128.50 in 22-carat and at $105.10 in 18-carat.

The spot gold is different from the 24K, 22K and 18K gold sold in USA. These purities-based gold are more physical and sold in retail market. Just like MCX gold is different from 24K, 22K, and 18K gold purities sold in India.

Both spot gold and MCX gold are market-based commodities.

Physical gold rates across the countries are impacted due to movement in spot gold, geopolitical risks in West Asia, inflationary pressure, elevated crude oil prices and heightened expectations of another rate hike from US Federal Reserve in December policy.

MCX Gold Price + Spot Gold Price + MCX Silver Price + Spot Silver Price

On Wednesday, at the time of writing, spot gold traded nearly 1% up toward $4,058 per ounce and spot silver surged by nearly 3% to breach above $53 per ounce.

US headline inflation slowed to 0.4% MoM in October from 0.6% in September, but came in above market forecasts of 0.3%. Meanwhile, core inflation remained unchanged at 0.3% for the third consecutive month, exceeding expectations of 0.2% and signaling persistent underlying price pressures. Fed Governor Christopher Waller expressed support for further monetary tightening in December, adding that he would favor a half-percentage-point increase if inflation continues to accelerate. Dallas Fed President Lorie Logan also indicated that more aggressive rate hikes may be necessary to bring inflation under control. Consequently, markets are now pricing in approximately a 91% probability of a rate increase next month, up from 84% in the previous session, as per Trading Economics.

Meanwhile, MCX gold price also climbed by 1% to trade above Rs 1,41,770 per 10 grams and MCX silver price rallied by 2.7% to trade above Rs 1,87,560 per 1Kg.

"Gold and silver fell after US consumer prices rose 0.4% in October, above the 0.3% expected, with core inflation also running hotter than forecast. Spot gold slipped about 2% to near $4,050 an ounce and silver lost nearly 3% to around $51.7. The US 10-year Treasury yield rose 2% to 4.99% and the dollar index gained 0.43% to 102.11," said Ashish Rajodiya, Head of Commodities, PL Capital.

He explained that the latest US CPI readings strengthens the case for another Fed hike at the 8-9 December meeting, after two policymakers voted for one in October. Governor Waller has said core readings of 0.3% or more could justify considering a 50 basis point move. Higher yields and a firmer dollar raise the cost of holding metals that pay no interest, and silver, with its industrial demand, tends to fall further than gold.

The next inflation print and Fed commentary before December will decide how deep the pullback goes. A softer reading would revive the case for a recovery, while another hot print could push both metals lower, as per the expert.

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