Gold prices witnessed a mixed trend across India’s prominent jewellery retail landscape on Monday, November 2, 2026. Several leading market players, including Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas, implemented a reduction in their 22-carat gold jewellery rates, marking a shift from the prices observed in previous days. In contrast, Tanishq maintained a stable position, holding its gold rates unchanged from the levels recorded on the preceding day.
As of November 2, 2026, the rate for 22-carat gold at Tanishq showrooms remained at Rs 12,780 per gram. This stability was observed consistently across major urban centres, including Delhi, Mumbai, Chennai, Kolkata, Trivandrum, Hyderabad, and Bengaluru. The pricing reflects a static trend for the brand compared to the figures reported on November 1, 2026.
Simultaneously, other major national retail chains—specifically Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas—adjusted their 22-carat gold rates to Rs 12,775 per gram in most of their operating cities, such as Delhi, Mumbai, Chennai, Kolkata, Trivandrum, and Hyderabad. This represents a notable change from the Rs 13,195 per gram levels noted at these specific outlets on October 31, 2026. Notably, Bengaluru saw a distinct pricing environment for these retailers, with rates remaining at the higher threshold of Rs 13,195 per gram as of the latest reporting.
Market participants and retail customers are currently awaiting further direction from the India Bullion and Jewellers Association (IBJA). The association, which provides the standard indicative rates for various purities of gold and silver, had not yet released its updated jewellery price list for November 2 at the time of reporting. Consequently, stakeholders are relying on direct updates from individual retail jewellery brands to gauge daily price movements.
The most recent available data from the IBJA, dated October 30, 2026, provided a broader look at the market's hierarchy of purity. At that time, fine gold (999 purity) was valued at Rs 14,005 per gram, while 22-carat gold stood at Rs 13,669 per gram. Other purity grades were listed as Rs 12,464 per gram for 20-carat, Rs 11,344 per gram for 18-carat, and Rs 9,033 per gram for 14-carat gold. Silver (999 purity) was recorded at Rs 1,81,344 per kilogram.
These fluctuations are closely monitored by investors and consumers alike, as gold remains a significant asset class for Indian households. While jewellery prices at retail counters often include additional charges and local levies, the per-gram rates provided by major chains serve as a primary indicator for retail buyers. The disparity in pricing between brands, as seen in the recent figures, highlights the localized approach taken by retailers in response to broader bullion market trends.
Looking ahead, the market expects the IBJA to release its updated indicative rates, which will likely offer a clearer picture of the prevailing bullion trends. For now, consumers are advised to verify current rates directly with local showrooms, as prices can vary based on regional demand, purity specifications, and the specific pricing strategies employed by individual jewellery brands across the country.
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