Gold buyers in India woke up to sharply higher prices on Thursday, November 5, 2026, as the yellow metal extended its rally for a second straight session. With the US dollar slipping to a more than one-month low after the midterm elections in the United States, gold and silver both pushed higher in early trade, and MCX futures crossed a key psychological mark.
At around 6 am, 24-karat gold was trading at Rs 1,43,770 per 10 grams across India, while silver stood at Rs 1,88,210 per kilogram, according to Bullion.co.in data quoted by NDTV Profit.
MCX gold crosses Rs 1.45 lakh, silver tops Rs 1.90 lakh
The move on the futures market was the sharpest in weeks. MCX gold futures for December delivery had already jumped more than 2.7 percent on Wednesday, November 4, settling at Rs 1,43,234 per 10 grams. On Thursday, the December 4 contract rose another 1.48 percent to Rs 1,45,356 per 10 grams, Moneycontrol reported.
Silver moved even faster. MCX silver futures for December delivery had risen close to 5 percent in the previous session to close at Rs 1,87,735 per kilogram, and on Thursday they rose a further 1.31 percent to Rs 1,90,200 per kilogram.
The rally in India mirrored gains overseas. International spot gold traded just above 4,127 dollars an ounce, up 1.65 percent over the past 24 hours, while Comex gold gained around 0.38 percent to trade at 4,088.30 dollars an ounce. Spot silver climbed above 53 dollars an ounce, up about 2 percent on the day.
Why gold is rising today
The immediate trigger is the weaker US dollar, which fell to a more than one-month low after the Democrats won the midterm elections in the US. A softer dollar makes dollar-priced gold cheaper for overseas buyers, which lifts demand. Falling crude oil prices and lower US Treasury yields added to the move.
Analysts also point to short covering after the US election outcome. Jateen Trivedi, VP Research Analyst at LKP Securities, told Moneycontrol that gold witnessed a sharp recovery as significant short covering emerged following the US election results. With neither party expected to hold a decisive majority across Congress and the Senate, the scope for major legislative changes is limited, easing concerns over further fiscal expansion.
Back home, festive demand is lending support too. With Dhanteras round the corner, jewellers are seeing steady footfall, and the wedding season that follows keeps physical demand firm. The rupee also helped: it strengthened to Rs 94.64 against the US dollar, from Rs 94.74 previously, on lower crude prices, dollar weakness and foreign investor inflows.
Gold rate today in major cities
Here are the 24-karat gold prices per 10 grams in major cities on Thursday morning, as per Bullion.co.in:
- Mumbai: Rs 1,43,510
- Delhi: Rs 1,43,270
- Chennai: Rs 1,43,930
- Kolkata: Rs 1,43,320
- Bengaluru: Rs 1,43,630
- Hyderabad: Rs 1,43,740
For 22-karat gold, the price per 10 grams ranged from Rs 1,31,331 in Delhi to Rs 1,31,936 in Chennai, with an all-India average of Rs 1,31,789.
Silver prices (999 fine) per kilogram ranged from Rs 1,87,540 in Delhi to Rs 1,88,410 in Chennai.
What buyers should keep in mind
Gold has been one of the strongest performing assets this year, and the latest leg up comes with the metal already near record territory. Festive and wedding-season demand in India is real and usually supports prices in November, but a sharp two-day jump also means short-term volatility, and prices can swing quickly if the dollar recovers or US jobs data surprises.
Before buying, check the BIS hallmark and making charges, which vary widely between jewellers and can add a large premium over the quoted rate. Compare the per-gram rate across at least two jewellers in your city, and remember that retail quotes are usually higher than the indicative morning prices after tax, dealer premium and making charges.
What to watch next
Market participants will now track the dollar, US bond yields and upcoming US jobs data to judge whether the recovery can sustain. In India, all eyes will be on Dhanteras buying and whether jewellers report stronger volumes than last year.
For now, the message from the market is clear. Gold is in demand, silver is moving faster, and a weaker dollar has given both metals a fresh push as India’s festive buying season peaks.
FAQs
What is the gold price today in India?
On Thursday, November 5, 2026, 24-karat gold was around Rs 1,43,770 per 10 grams in early trade, while MCX December futures traded above Rs 1.45 lakh per 10 grams.
What is the silver price today?
Silver was at Rs 1,88,210 per kilogram in early trade, while MCX silver futures rose to Rs 1,90,200 per kilogram.
Why are gold prices rising today?
The US dollar weakened to a more than one-month low after the US midterm elections, making gold cheaper for overseas buyers. Falling crude prices, lower US Treasury yields and festive demand ahead of Dhanteras are also supporting prices.
What is the gold rate in Mumbai and Delhi today?
In Mumbai, 24-karat gold was Rs 1,43,510 per 10 grams; in Delhi it was Rs 1,43,270 per 10 grams.
Is it a good time to buy gold before Dhanteras?
Festive demand is strong and prices are near record highs, so compare rates across jewellers, check hallmarking and making charges, and remember that short-term prices can swing with the dollar and global cues.
Rates in this article are indicative morning prices for November 5, 2026, based on NDTV Profit, Moneycontrol and Bullion.co.in. Check live rates with your local jeweller before buying.
