Gold and silver prices moved higher across India on Wednesday, November 4, 2026, as demand for precious metals gained attention ahead of Dhanteras and Diwali. Leading jewellery retailers, including Tanishq, Malabar Gold & Diamonds, Joyalukkas and Kalyan Jewellers, increased their 22 carat gold prices compared with the previous day. The latest movement comes as buyers prepare for festive jewellery purchases while investors monitor international market developments and currency fluctuations.

The increase was visible across all four major jewellery brands. Tanishq reported a 22 carat gold price of Rs 12,875 per gram on November 4, compared with Rs 12,800 per gram on November 3. This represents an increase of Rs 75 per gram.

Malabar Gold & Diamonds also raised its 22 carat gold price to Rs 13,090 per gram from Rs 12,800 per gram a day earlier. The increase amounted to Rs 290 per gram. Joyalukkas reported the same rate of Rs 13,090 per gram, marking an identical daily increase of Rs 290. Kalyan Jewellers also priced 22 carat gold at Rs 13,090 per gram, compared with Rs 12,800 on November 3.

These rates were reported across New Delhi, Mumbai, Chennai, Kolkata, Thiruvananthapuram, Coimbatore and Bengaluru. However, the final amount paid by customers can differ depending on the jewellery design, making charges, applicable taxes and retailer specific pricing policies.

The India Bullion and Jewellers Association (IBJA) also reported higher indicative gold rates in its November 4 morning update. Fine gold with 999 purity was priced at Rs 14,106 per gram, compared with Rs 13,758 in the previous day's evening update. This represented an increase of Rs 348 per gram.

The IBJA rate for 22 carat gold reached Rs 13,768 per gram, up Rs 341 from Rs 13,427. Meanwhile, 20 carat gold increased to Rs 12,555 per gram from Rs 12,244, registering a rise of Rs 311.

The 18 carat gold rate climbed to Rs 11,426 per gram, compared with Rs 11,144 previously. This marked an increase of Rs 282. For 14 carat gold, the indicative rate rose to Rs 9,099 per gram from Rs 8,874, an increase of Rs 225.

The IBJA's latest figures indicate that the upward movement was spread across different gold purity categories. This information is particularly relevant for jewellery buyers comparing prices across different products and purity levels before making festive purchases.

The previous evening's IBJA update also placed 999 purity silver at Rs 1,76,425 per kilogram. A comparable November 4 morning silver figure was not provided in the available rate information. Buyers should therefore check the latest local bullion and retailer quotations before making a purchase.

The IBJA indicative rates are quoted without 3 per cent Goods and Services Tax (GST) and jewellery making charges. Customers purchasing finished ornaments should account for these additional costs when calculating the final bill. The difference between indicative bullion prices and retail jewellery prices can be substantial, particularly for intricate designs with higher making charges.

International developments have also influenced the latest movement in precious metals. Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Ltd. and President of IBJA, attributed the rebound in gold and silver to weakness in the US dollar following early Democratic gains in the US midterm elections.

According to Kothari, the possibility of Democrats gaining control of both chambers of Congress has raised expectations of political gridlock and tighter government spending. Such developments could weigh on technology stocks and economic growth expectations, potentially increasing demand for traditional safe haven assets such as gold and silver.

The weaker dollar has provided additional support to precious metals. Kothari said the currency had fallen to its lowest level since late September, while lower bond yields also helped improve the outlook for bullion.

Geopolitical uncertainty remains another factor influencing investor sentiment. The United States and Iran remain far from reaching an agreement, keeping international tensions in focus. Investors are also awaiting US nonfarm payroll data for further indications about the Federal Reserve's monetary policy direction.

Kothari said both precious metals were recovering from technically oversold levels. He identified a potential gold target of $4,050, equivalent to approximately Rs 1,43,500, and a silver target of $54, equivalent to approximately Rs 1,97,000.

These projections represent market outlook levels rather than guaranteed prices. Actual movements will depend on international bullion trends, currency movements, interest rate expectations and geopolitical developments.

For Indian households, the timing of the increase matters. Dhanteras and Diwali traditionally bring higher interest in gold and silver purchases, with many families considering jewellery, coins and bullion as part of their festive spending.

However, higher prices can affect purchasing decisions, particularly for customers planning larger jewellery purchases. Comparing rates across retailers, checking purity certification and understanding making charges can help buyers assess the actual cost before placing an order.

With gold prices rising across major jewellery brands and IBJA purity categories, the precious metals market remains firmly in focus ahead of the festive season. Further movements will depend on international economic indicators and investor demand in the days ahead.