Gold prices in Meerut fell below the ₹1.36 lakh per 10 grams mark after a three-day slide, with 24-carat gold losing ₹6,611 during the period, data from the India Bullion and Jewellers Association (IBJA) showed. The local rate reached ₹1,35,809 per 10 grams on Saturday, taking the metal below the threshold for the first time in nearly eight months.
IBJA data put the previous low at ₹1,35,141 per 10 grams in March. The ₹6,611 drop over three sessions took the Meerut rate below ₹1.36 lakh, a level it had last breached in March. The latest reading covers the Saturday market and is separate from Sunday’s bullion quotations.
On Sunday, 15 November, separate bullion-market data showed 24-carat gold bullion at ₹1,37,320 per 10 grams nationally and ₹1,37,100 per 10 grams in Meerut. The same snapshot put 999 fine silver at ₹1,77,280 per kg nationally and ₹1,77,000 per kg in Meerut. The 22-carat rate was ₹1,25,675 per 10 grams, while 18-carat gold was quoted at ₹1,02,825 per 10 grams.
The national 24-carat quote was ₹220 per 10 grams above the Meerut figure in the Sunday snapshot, while national silver was ₹280 per kg higher. The ₹1,37,100 Meerut quote was above the ₹1,35,809 Saturday level reported by IBJA. The two readings are from different published bullion quotes and different market timings.
The domestic decline tracked a sharp move in global bullion markets. Spot gold dropped 4.5% over the week, the most since June, as investors weighed the possibility that the United States Federal Reserve could raise interest rates and that higher oil prices could push inflation. Spot gold was up 0.1% at $3,879.71 per ounce as of 1905 GMT, after briefly touching a session high of $3,922.97 when US Producer Price Index data was released. US gold futures for December delivery settled largely unchanged at $3,886.30 per ounce.
The global and local figures together show how quickly the Meerut market moved from its recent range. The city’s 24-carat rate had last been recorded at ₹1,35,141 per 10 grams in March before the latest fall to ₹1,35,809. The three-day loss of ₹6,611 came as the international spot price posted its biggest weekly decline since June.
Gold and silver rates across Indian cities
Bullion data for Sunday, 15 November, showed the following rates in key Indian cities. Gold rates are per 10 grams and silver rates are per kg for 999 fine silver.
In Mumbai, 24-carat gold was priced at ₹1,37,070 per 10 grams. The 22-carat rate was ₹1,25,648, and 18-carat gold was ₹1,02,803 per 10 grams. Silver 999 fine was quoted at ₹1,76,960 per kg.
In Delhi, 24-carat gold stood at ₹1,36,830 per 10 grams. The 22-carat rate was ₹1,25,428, and 18-carat gold was ₹1,02,623 per 10 grams. Silver 999 fine was quoted at ₹1,76,650 per kg.
In Bengaluru, 24-carat gold was ₹1,37,180 per 10 grams. The 22-carat rate was ₹1,25,748, and 18-carat gold was ₹1,02,885 per 10 grams. Silver 999 fine was ₹1,77,090 per kg.
In Kolkata, 24-carat gold was ₹1,36,890 per 10 grams. The 22-carat rate was ₹1,25,483, and 18-carat gold was ₹1,02,668 per 10 grams. Silver 999 fine was ₹1,76,720 per kg.
In Chennai, 24-carat gold was ₹1,37,470 per 10 grams. The 22-carat rate was ₹1,26,014, and 18-carat gold was ₹1,03,103 per 10 grams. Silver 999 fine was ₹1,77,470 per kg.
The Meerut rate therefore remained below the ₹1.36 lakh mark on the IBJA reading even as other city quotes on Sunday were above that level. The figures are indicative bullion rates and can vary by dealer, making charges and local market conditions. Investors should check with certified experts before making investment decisions.