Symbolic illustration of stacked gold bars and silver coins on a dark navy background with a rising arrow shape, representing rebounding precious metal prices, with no people shown.
Business & Market
Gold, silver rebound on 2 November ahead of Dhanteras
Gold and silver prices rebounded in India on Monday, 2 November 2026, after a bruising week, with MCX silver climbing more than 1.6 per cent and gold holding near Rs 1,38,700 per 10 grams as festive buying approaches.
⚡Key Highlights
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Gold and silver prices rebounded in India on Monday, 2 November 2026, after a bruising week, with MCX silver climbing more than 1.6 per cent and gold holding near Rs 1,38,700 per 10 grams as festive buying approaches.
Special coverage and in-depth reporting from the Business & Market desk.
Key analysis, background details, and full reporting below.
Gold and silver prices rebounded in India on Monday, 2 November 2026, after last week heavy sell-off, offering some relief to buyers preparing for Dhanteras and Diwali.
By StoryTimesNow News Desk — 02 November 2026, 5:02 PM IST
Symbolic illustration of gold bars and silver coins. Rates are indicative market rates, not a final shop bill.
Key Takeaways
What happened: On 2 November 2026, MCX December gold futures traded near Rs 1,38,658 per 10 grams and silver near Rs 1,82,054 per kilogram in afternoon trade, both higher on the day.
Who is affected: Jewellery buyers, wedding shoppers and investors, who get a steadier entry point ahead of Dhanteras on 6 November and Diwali on 8 November.
What next: Traders watch the US dollar, crude oil, US Federal Reserve signals and the 3 November US midterm elections for whether the rebound holds.
Gold and silver prices in India started the week on a steadier footing on Monday, 2 November 2026. After a sharp sell-off last week, both metals recovered in domestic trading, with silver outperforming gold on the day.
The rebound lands days before the festive buying peak: Dhanteras on Friday, 6 November, and Diwali on Sunday, 8 November.
What Happened?
On the Multi Commodity Exchange (MCX), December gold futures were trading at Rs 1,38,658 per 10 grams as of 2:14 pm on 2 November, up Rs 173, or 0.12 per cent, from the previous close of Rs 1,38,485, according to NDTV Profit. Gold stayed below Rs 1,39,000, touching a low of Rs 1,38,350 during the session.
Silver moved more strongly. MCX December silver futures gained Rs 2,922, or 1.63 per cent, to Rs 1,82,054 per kilogram, against the previous close of Rs 1,79,132, NDTV Profit reported. Business Today put the international picture in similar terms, with gold futures up 0.30 per cent to about 3,910 dollars an ounce and silver up 1.61 per cent to about 50 dollars an ounce.
Morning retail indications pointed the same way, with 24-carat gold at Rs 1,39,030 per 10 grams in Delhi, Rs 1,38,750 in Mumbai, Rs 1,39,580 in Kolkata and Rs 1,38,870 in Chennai, and 999 silver at Rs 1,79,527 per kilogram, according to Asianet Newsable. Those figures are indicative bullion rates and exclude GST and making charges.
Why Does This Matter?
For buyers, the timing is the story. A household planning a Dhanteras purchase does not need to chase a single hour price, but a calmer market after a volatile week makes budgeting easier. Silver rose faster than gold on Monday, continuing a pattern of sharper swings.
For sellers, the rebound follows a bruising week. Business Today reported that gold fell about 2.49 per cent last week while silver plunged nearly 8.47 per cent. Monday recovery therefore looks less like a fresh rally and more like a pause after heavy selling.
Important Details
MCX gold, 2 November afternoon: Rs 1,38,658 per 10 grams, up 0.12 per cent; session low Rs 1,38,350; previous close Rs 1,38,485 (NDTV Profit, 2:14 pm).
MCX silver, 2 November afternoon: Rs 1,82,054 per kilogram, up 1.63 per cent; previous close Rs 1,79,132 (NDTV Profit, 2:14 pm).
International: Gold futures about 3,910 dollars an ounce, up 0.30 per cent; silver about 50 dollars an ounce, up 1.61 per cent (Business Today).
Retail indications, Monday morning: 22-carat gold Rs 1,27,190 to Rs 1,27,860 per 10 grams across the same cities; silver Rs 1,79,527 per kilogram (Asianet Newsable).
Last week: Gold down about 2.49 per cent; silver down about 8.47 per cent (Business Today).
Levels to watch: Analyst Sugandha Sachdeva, founder of SS WealthStreet, identified Rs 1,37,000 as immediate support for domestic gold, followed by Rs 1,27,000, and Rs 1,72,000 to Rs 1,73,000 as immediate support for silver, followed by Rs 1,60,000 (Business Today). These are analyst views, not investment advice.
Background and Context
Precious metals had been under pressure from elevated crude oil prices, inflation worries and expectations of further tightening by the US Federal Reserve, according to Sachdeva as quoted by Business Today.
The Indian market has already seen sharp two-way moves this autumn. StoryTimesNow reported falling gold rates on 31 October, when 24-carat gold stood at Rs 13,888 per gram. Monday rebound should therefore be read against that volatility, not as a guarantee that prices will keep rising into Diwali.
What Happens Next?
Traders will watch crude oil, the US dollar, US Federal Reserve signals and the US midterm elections on 3 November, all flagged by Business Today. Indian prices generally follow global rates, with a lag for currency and local taxes.
Domestically, the next hard dates are festive: Dhanteras on 6 November and Diwali on 8 November. In that window, retail premiums and making charges can matter more to a final bill than a small move in the bullion rate.
What Readers Should Know
Check whether a quoted rate is a futures price, a bullion indicative rate or a retail rate. They are three different numbers: GST and making charges are added at the shop, and purity changes the price per gram.
For coins and bars, ask for weight, purity and buy-back terms in writing. For jewellery, compare making charges across shops.
FAQs
What is the gold price today in India? On 2 November 2026, MCX December gold futures traded near Rs 1,38,658 per 10 grams in the afternoon, while morning retail indications put 24-carat gold at about Rs 1,38,750 to Rs 1,39,580 per 10 grams in major cities. Treat any figure as a snapshot, not a fixed shop price.
What is the silver price today? MCX December silver futures traded near Rs 1,82,054 per kilogram in afternoon trade on 2 November, up 1.63 per cent.
Is this a good time to buy before Dhanteras? Prices have steadied after last week fall, but analysts still flagged downside risks. Decide on budget and purity first, rather than trying to time a single day move.
Sources and Verification
NDTV Profit, 2 November 2026, MCX afternoon gold and silver levels.
Business Today, 2 November 2026, international prices, last week falls, analyst levels and triggers.
Asianet Newsable, 2 November 2026, morning city-wise retail indications.
Moneycontrol, 2 November 2026, early-trade direction and spot context.
Upstox, 2 November 2026, MCX intraday silver range and festive demand.
Verified on 2 November 2026 from the sources above. Figures are snapshots at the times stated and will differ from later shop prices. This article is not investment advice.
