Gold Rates In India November 1: Prices Flat After Rs 103,600 October Crash; Is Cheaper Than Dubai, Souk Market

Gold rates in India are flat in the start of the month of November, with 24-carat gold holding below the Rs 1.39 lakh mark on Sunday. The performance comes after gold rates crashed by nearly 7% across all carats in October 2026. On November 1st, 1 gram of gold price stood at Rs 13,888 in 24-carat, at Rs 12,730 in 22-carat and at Rs 10,416 in 18-carat. Gold has been volatile due to elevated crude oil prices, higher energy costs and inflationary pressures, which warrants aggressive rate hikes ahead. On the positive front, gold has become cheaper ahead of Diwali. But has gold become cheaper from the souk market, like in Dubai, Abu Dhabi, Saudi Arabia and others?

Gold Rates In India, November 1, 2026:

24-carat gold price stood at Rs 1,38,880 per 10 grams, while 22-carat and 18-carat gold rates stood at Rs 1,27,300 and Rs 1,04,160 per 10 grams respectively.

Here, 8 grams gold are available at Rs 1,11,104 in 24-carat, at Rs 1,01,840 in 22-carat and at Rs 83,328 in 18-carat. Furthermore, 100 grams gold is available at Rs 13,88,800 in 24-carat, at Rs 12,73,000 in 22-carat and at Rs 10,41,600 in 18-carat.

The start has been lackluster as Diwali week kickoffs from Monday onward. In October, 24-carat gold price had crashed by a whopping Rs 103,600 in 100 grams and dropped by Rs 10,360 in 10 grams. Overall, the decline across the carats stood at 7%.

Last week, MCX gold and spot gold declined nearly 3% alone.

As per Ponmudi R, CEO of Enrich Money, gold and silver extended their losses during the week as persistent inflation, elevated crude oil prices and expectations of further Fed tightening reduced the appeal of non-yielding assets. Gold fell approximately 2.72% over the week, slipping below the psychologically important $4,000 mark and touching a one-year low near $3,881 per ounce on Friday. Silver recorded a steeper weekly decline of approximately 8%-9%, falling below $50 per ounce for the first time in 11 months.

The expert highlighted that selling pressure intensified as weakness in U.S. technology stocks, driven by concerns over returns on heavy artificial intelligence investments, prompted margin calls and forced liquidation across precious metals. Subdued physical demand in Asia and persistent concerns over interest rates further weighed on prices. However, potential central-bank purchases at lower levels could provide underlying support to gold.

But is gold cheaper than other souk market?

Gold Rates In Dubai + Abu Dhabi + Ajman + Fujairah:

These souk markets are part of UAE and hold similar prices. In Abu Dhabi, Dubai or other two market, 24-carat gold price stood at Rs 12,072 per 1 gram and at Rs 1,20,720 per 10 grams. So it is currently cheaper than India.

Gold Rates In Saudi Arabi + Oman + Kuwait + Qatar + Bahrain:

In Bahrain, gold price stood at Rs 11,971 per 1 gram and at Rs 1,19,710 per 10 grams in 24-carat, which is cheaper than both 24K and 22k gold sold in India. In Kuwait, 24k gold stood at RS 12,117 per 1 gram and at Rs 1,21,170 per 10 grams. Further, in Saudi Arabi, gold rate is priced at Rs 12,168 per 1 gram and at Rs 1,21,680 per 10 grams of 24-carat.

In Oman, 24-carat gold is available at Rs 12,219 per 1 gram and at Rs 1,21,670 per 10 grams. In Qatar, the same gold is being sold at Rs 12,202 per 1 gram and at Rs 1,22,020 per 10 grams.

Country	Currency	24K	22K	18K	24K (INR)
Bahrain	BHD	47.60	44.40	36.30	₹11,971
Kuwait	KWD	39.34	36.10	29.50	₹12,117
Oman	OMR	49.55	46.50	38.00	₹12,219
Qatar	QAR	468.50	432.00	353.50	₹12,202
Saudi Arabia	SAR	481.00	441.00	360.80	₹12,168
UAE	AED	467.00	432.50	353.90	₹12,072

Looking ahead, Ponmudi said, gold and silver may struggle to regain ground as persistent inflation and the prospect of another Federal Reserve rate hike in December keep Treasury yields and the dollar in focus. However, the sharp recent correction has left both metals vulnerable to short-covering rallies, while lower prices could also attract renewed central-bank demand, offering some support to gold.

For domestic commodity markets, Ponmudi said, movements in the rupee will remain an important variable alongside international price trends. The currency's recent appreciation could temper gains in MCX bullion, particularly if global prices attempt a recovery. At the same time, elevated crude oil prices and the trajectory of foreign capital flows will remain key influences on the rupee and, consequently, on domestic commodity prices.

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