Gold Prices Climb For Second Straight Day As 24K Hits ₹1,39,910 Per 10 Grams Lifting Jewellery Stocks
Domestic bullion prices moved higher on Wednesday, November 4, 2026, marking a second consecutive day of recovery across primary urban markets in India. The price of 24-carat gold increased by ₹270 to reach ₹1,39,910 per 10 grams, according to data from Goodreturns.in. The price rebound, building on Tuesday’s identical gain, helped lift investor sentiment across the gems and jewellery pack on domestic bourses.
Domestic Bullion Rates Breakdown
Retail rates across standard purity tiers registered uniform increases across key consuming hubs, including the Mumbai cluster:
- 24-Carat Gold (99.9% purity): Rose by ₹270 (approx. 0.19%) to ₹1,39,910 per 10 grams, compared to ₹1,39,640 on Tuesday.
- 22-Carat Gold (91.6% purity): Gained ₹250 (approx. 0.20%) to ₹1,28,250 per 10 grams, up from ₹1,28,000 on the previous day.
- 18-Carat Gold (75.0% purity): Climbed ₹200 (approx. 0.19%) to ₹1,04,930 per 10 grams, compared with ₹1,04,730 recorded in the prior session.
These figures represent base bullion prices and do not incorporate making charges, wastage margins, or the standard 3% Goods and Services Tax (GST) levied on retail jewellery purchases.
Market Context and Price Trajectory
The two-day price advance has allowed 24-carat gold to claw back ₹540 of the steep ₹4,580 loss suffered across Friday and Monday, representing a recovery of approximately 12%. While prices remain below peaks recorded earlier in October, the steadying trend has offered price stability for both end-consumers and retail jewellers.
Jewellery Counters Advance on Bourses
The firming trend in bullion rates spurred buying across listed jewellery companies during early morning trading:
- PC Jeweller: Led the sector rally, surging 3.06%.
- Renaissance Global: Advanced 2.45% to trade at ₹141.85, up ₹3.39 from its previous close of ₹138.46.
- Titan Company: Gained between 1.39% and 1.90% to trade above ₹4,625 per share.
- Kalyan Jewellers India and Thangamayil Jewellery: Both counters sustained positive momentum amid elevated festive season inquiry levels.
Festive Season Outlook
With Dhanteras and Diwali demand underway, retail jewellers typically experience their strongest volume and revenue inflows of the financial year. Stabilising gold prices serve as a catalyst for shoppers finalizing wedding and festive purchases without fear of immediate downward inventory revaluations. Market participants continue to track whether the recent two-day recovery will sustain buying appetite through upcoming peak festive delivery dates.
