On the occasion of Ekadashi, which falls on November 1, 2025, gold and silver prices have witnessed a significant drop. This unexpected decline has caught many by surprise, especially since the wedding season in India is just beginning. Traditionally, the wedding season sees an increase in demand for gold, but this year, the trend is different. Experts suggest that the decline in prices is linked to the strength of the dollar and a reduced demand globally, but they also anticipate that prices may remain lower despite increased demand during the wedding season.

International Market Impact on Gold and Silver

As of midday, gold was trading at $4013.40 per ounce (approximately 28.34 grams) in the international markets. This reflects a decrease of $25 compared to the previous day’s closing price of $4038.20 per ounce. Silver, on the other hand, saw a marginal decrease of 0.48%, trading at $48.250 per ounce, down from the previous day’s close of $48.730 per ounce.

These drops in gold and silver prices in the international markets have directly impacted domestic prices as well, leading to a reduction in rates across various cities in India.

Gold and Silver Prices in Major Indian Cities

The prices of gold and silver in Indian cities have also shown a downward trend. As of today, the prices are as follows for various cities:

• Patna:
  24K Gold – ₹121,360
  22K Gold – ₹111,247
  18K Gold – ₹91,020
  Silver per kg – ₹148,490

• Jaipur:
  24K Gold – ₹121,400
  22K Gold – ₹111,283
  18K Gold – ₹91,050
  Silver per kg – ₹148,550

• Kanpur:
  24K Gold – ₹121,450
  22K Gold – ₹111,329
  18K Gold – ₹91,088
  Silver per kg – ₹148,610

• Lucknow:
  24K Gold – ₹121,450
  22K Gold – ₹111,329
  18K Gold – ₹91,088
  Silver per kg – ₹148,610

These prices indicate a drop across various gold categories, including 24K, 22K, and 18K gold. Additionally, silver prices have also decreased significantly across different cities.

MCX and IBJA Prices Update

On the MCX (Multi Commodity Exchange) and the India Bullion and Jewellers Association (IBJA) platforms, the prices of gold and silver are updated based on business days. Since both MCX and IBJA are closed on weekends, the rates for Friday reflect the latest figures.

On Friday, gold prices on the MCX dropped by ₹224, reaching ₹121,284 per 10 grams, down from ₹121,508 on Thursday. In contrast, silver saw an increase of ₹112, reaching ₹148,399 per kg, up from ₹148,287 the previous day.

Trends Over the Week: Gold Drops, Silver Rises

Looking at the week’s trend, gold prices have fallen while silver prices have surged. On October 31, gold prices on the IBJA stood at ₹120,770 per 10 grams, and silver prices reached ₹149,125 per kg. Over the course of the week, gold saw a ₹1589 drop, while silver prices jumped by ₹4094. This fluctuation highlights the contrasting trends for both metals in the market.

Why Did Gold and Silver Prices Drop on Ekadashi?

Experts suggest that the recent decline in gold and silver prices is a result of several global factors. The strengthening of the US dollar and a decrease in the expectations of interest rate cuts by the US Federal Reserve have made investors cautious. Furthermore, the demand for gold saw a dip after the Diwali shopping season slowed down. With profit booking taking place after the surge in gold prices, the overall trend of gold and silver prices has been downward.

Additionally, the easing of trade tensions between the US and China has reduced the demand for gold as a safe haven investment. While experts believe that demand will rise during the wedding season, they anticipate that prices may continue to stay lower for the time being.

With the wedding season now underway, many are questioning whether this is the right time to invest in gold and silver. The prices may remain lower despite the seasonal demand surge, according to experts. For those looking to purchase gold for weddings or investment purposes, it’s essential to keep an eye on the market fluctuations and decide based on their long-term needs.

 the price drop on Ekadashi has taken many by surprise, but experts suggest that it could be a temporary phase. Whether this will continue or if the prices will rise again during the wedding season remains to be seen.