Gold rate today, November 13: 24k, 22k prices fall again; metal now 5% below November 5 peak

Data shows 10 grams of 24 karat on Friday costs ₹1,38,490, 22 karat ₹1,26,950 and 18 karat ₹1,03,870, the last one after a fall of ₹98 a gram. Delhi carried a small premium to the national rate with 24 karat gold at ₹13,864 a gram, 22 karat at ₹12,710 and 18 karat at ₹10,402.

City-wise gold rates on November 13

The fall in Gold price since Diwali has now crossed ₹500 a gram. On November 8, 24 karat was at ₹14,357 and 22 karat at ₹13,160. Friday's rates are 3.54% and 3.53% lower, marking a drop of ₹508 and ₹465 a gram. On 10 grams that is ₹5,080 for 24 karat and ₹4,650 for 22 karat.

Measured from the ₹14,602 rate of November 5, the high point during the pre-Diwali festive run, 24 karat gold price is down around ₹753 a gram, or 5.16%.

However, the fall in gold rates has been orderly rather than abrupt. Prices rose ₹103 on November 9, the first trading session after the festival, to ₹14,460, and have fallen in every session since — ₹191, ₹71, ₹218 and now ₹131, a cumulative ₹611.

*Gold rates for the past five sessions; change is over the previous day_

The decline in gold rates follows the unwinding of festival demand. Purchases that would ordinarily have been spread through November were pulled forward into the Dhanteras and Diwali week, when prices rose in four straight sessions. The market has since been left to absorb the absence of that demand. Profit-taking after the rally has also added to the pressure, while the rupee and the dollar price of the metal overseas have not offered support.

For households buying for the wedding season, falling gold rates is timely relief. A 10-gram 22 karat ornament on Friday costs ₹1,200 less in metal than it did on Thursday, and ₹4,650 less than on Diwali, excluding making charges and 3% GST.

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