# Kolkata Gold and Silver Prices Decline Ahead of Festive Season Precious metal rates drop in Kolkata as investors prepare for Dhanteras and Diwali. - **Source:** [mint - money](https://www.livemint.com/rss/money) - **Published:** 2026-11-03 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/aaded154-a65d-4d59-9a85-eecb2a9ffe93 ## Market Price Correction Gold and silver prices in Kolkata experienced a notable decline on November 3, 2026. As of midday, 24-karat gold dropped by 1% to reach ₹1,38,830 per 10 grams. Simultaneously, 999 fine silver saw a sharper decrease of 2.64%, falling to ₹1,78,710 per kilogram, according to data provided by Bullion.com for the local market. ## Festive Demand Influence The price adjustment occurs just days before the auspicious festivals of Dhanteras on November 6 and Diwali on November 8. These events traditionally drive significant consumer interest in physical precious metals. Retail buyers in Kolkata are currently monitoring these fluctuations closely to determine the optimal timing for their festive jewellery and coin purchases. ## Futures Market Performance The downward trend is consistent across both physical and futures markets. On the Multi Commodity Exchange, gold futures fell by 0.97% to ₹1,38,820 per 10 grams. Silver futures mirrored this decline, dropping 2.76% to trade at ₹1,78,700 per kilogram, reflecting broader selling pressure that is currently impacting domestic commodity trading platforms and investor sentiment. ## International Market Pressures Global factors are contributing to the current volatility, with international prices remaining under significant pressure. On the US Comex, gold declined by 1.07% to $3,927.30 per ounce, while silver experienced a steeper drop of 3.09% to $49.32 per ounce. These global movements directly influence local pricing structures for bullion traders and investors. ## Purity and Pricing Tiers Kolkata buyers have access to various gold purities, each with distinct pricing. While 24-karat gold is the purest, 22-karat remains the standard for jewellery due to its durability. Current rates include ₹1,27,261 for 22-karat, ₹1,15,692 for 20-karat, and ₹1,04,123 for 18-karat gold per 10 grams, catering to diverse consumer preferences and budget requirements. ## Monthly Price Trajectory The current decline represents a sustained downward trend over the past month. On October 4, 24-karat gold was priced at ₹1,50,100 per 10 grams, falling to ₹1,44,040 by October 27. Silver has seen an even more dramatic shift, dropping from ₹2,25,920 per kilogram on October 4 to its current level of ₹1,78,710. ## Investment vs Consumption Investors must distinguish between purchasing metals for portfolio diversification and buying for personal use. Jewellery buyers should account for additional costs, including making charges and applicable GST, which are not reflected in the base bullion rates. These hidden costs can significantly alter the final purchase price compared to the quoted market rates. ## Strategic Market Outlook The recent price correction provides a potential entry point for festive shoppers in Kolkata. While market volatility continues to influence short-term pricing, the upcoming festive demand remains a critical factor for local jewellers. Buyers are encouraged to monitor local variations, as final retail prices may differ based on specific locations and individual jewellers. ## Sources covering this story - https://www.livemint.com/money/personal-finance/gold-silver-rate-today-kolkata-nov-3-latest-price-movement-update-city-of-joy-investors-ahead-of-dhanteras-diwali-11793687795406.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._