Gold rate today, November 12: 22K, 24K prices fall again; gold now ₹6220 below pre-Diwali highs

Gold prices fell again on Thursday, November 12, with 24 karat quoted at ₹13,980 per gram and 22 karat at ₹12,815, down ₹218 and ₹200 respectively from Wednesday's close, according to GoodReturns data at the time of writing. It is the third consecutive session of decline, leaving the yellow metal ₹377 a gram below where it stood on Diwali, November 8.

Calculation shows that the 24K gold is now approx. ₹6220 below the pre-Diwali and pre-Dhanteras high recorded on November 5, 2026.

According to the data, 10 grams of 24 karat gold today costs ₹1,39,800, 22 karat ₹1,28,150 and 18 karat ₹1,04,850. In the national capital, 24 karat was quoted at ₹13,995 a gram, ₹15 above the national rate, with 22 karat at ₹12,835 and 18 karat at ₹10,500.

City-wise gold rates today

The retreat in gold prices since Diwali is now substantial. On November 8, 24 karat was at ₹14,357 a gram and 22 karat at ₹13,160. Thursday's gold rates are 2.63% and 2.62% lower, a drop of ₹377 and ₹345 a gram for 24K and 22K gold respectively. On 10 grams that is ₹3,770 for 24 karat and ₹3,450 for 22 karat.

However, the gold price path has not been a straight line since Diwali. Prices rose ₹103 on November 9, the first trading day after the festival, to ₹14,460. But they have fallen in every session since: ₹191 on November 10, ₹71 on November 11 and ₹218 on Thursday. Measured from the ₹14,602 of November 5, the last peak of the festive run, 24 karat is down ₹622 a gram, or 4.26%.

The fall has taken gold prices back to where they were in the first week of November. Thursday's ₹13,980 is ₹16 above the ₹13,964 of November 3, and below the rates between November 5 and November 11.

For a household that bought on Dhanteras, when 24 karat was ₹14,346 a gram, the metal alone is now worth ₹366 a gram less. However, this calculation ignores making charges and GST, which are not recovered on resale in any case.

The slide follows the unwinding of festival demand and profit-taking after the sharp run of late October and early November, when prices rose in four straight sessions. The wedding season, which begins later this month, should support demand, though purchases in that season are spread over weeks rather than concentrated on a single day. So they do not produce the spike that Dhanteras does.

For buyers, the numbers of the last four days is worth noting. A 10 gram 22 karat ornament costs ₹2,000 less in metal than it did on Wednesday and ₹3,450 less than on Diwali, before making charges and 3% GST are added.

Making charges, which run from about 5% on plain bangles to 18% on machine-cut designs, are unchanged and remain the larger variable in the final bill. Buyers comparing showrooms should ask for that making charge in rupees rather than as a percentage.

Please note that rates published online are indicative and may vary between jewellers.