Gold Rate Today November 5, 2026: Gold Prices Jump After US Midterm Election Results, Check 24K, 22K and 18K Rates
Gold prices recorded a strong recovery in India on Thursday, November 5, 2026, as international bullion markets gained momentum following the US midterm election results. A weaker US dollar and declining US Treasury yields supported the rise in gold prices, encouraging investors to increase their exposure to the precious metal.
The rally comes ahead of Dhanteras, which falls on November 6 this year. Gold purchases traditionally increase during the festive period in India, making price movements particularly important for jewellery buyers and investors.
International spot gold climbed around 1.6% on Thursday to approximately 4,123.71 dollars per ounce, reaching its highest level in more than two weeks. The metal had already recorded a significant gain of around 3.4% in the previous trading session.
Why Did Gold Prices Increase on November 5?
The latest increase in gold prices is linked to developments in the United States following the midterm elections.
The Democratic Party secured major gains in both chambers of the US Congress, weakening the US dollar and influencing financial market sentiment. The movement in the dollar supported international gold prices because gold is generally traded in US dollars.
When the dollar weakens, gold becomes relatively less expensive for investors using other currencies. This can increase international demand and support bullion prices.
Falling US Treasury yields also contributed to the rally. Gold does not generate interest income, unlike government bonds. Therefore, lower bond yields can make gold more attractive to investors compared with interest-bearing assets.
Investors also turned towards safe-haven assets amid uncertainty surrounding economic and geopolitical developments.
Gold Prices Today in India
Domestic gold prices moved higher on November 5, tracking gains in international bullion markets.
According to Goodreturns market data, the indicative gold prices were as follows:
24 Karat Gold: Rs 1,46,020 per 10 grams
22 Karat Gold: Rs 1,33,850 per 10 grams
18 Karat Gold: Rs 1,09,520 per 10 grams
The prices represented significant increases compared with the previous trading session. The 24K gold rate increased by Rs 3,220 per 10 grams, while 22K gold gained Rs 2,950. The 18K gold rate increased by Rs 2,420.
These rates are indicative market quotes and may differ between jewellers and price-tracking platforms.
City-Wise Gold Rates on November 5, 2026
Gold prices varied across major Indian cities depending on local market conditions and pricing sources.
According to the city-wise retail rates reported by Livemint, the indicative prices per 10 grams were:
New Delhi
24K Gold: Rs 1,45,510
22K Gold: Rs 1,33,384
Mumbai
24K Gold: Rs 1,45,600
22K Gold: Rs 1,33,467
Chennai
24K Gold: Rs 1,46,020
22K Gold: Rs 1,33,853
Bengaluru
24K Gold: Rs 1,45,880
22K Gold: Rs 1,33,723
Kolkata
24K Gold: Rs 1,45,570
22K Gold: Rs 1,33,439
Hyderabad
24K Gold: Rs 1,45,830
22K Gold: Rs 1,33,678
The 18K gold rate was reported at approximately Rs 1,09,550 per 10 grams in Chennai and Rs 1,09,520 in several other cities, including Mumbai, according to Goodreturns.
Buyers should check the latest local jewellery rates before making a purchase, as prices may change during the trading day.
MCX Gold Futures Also Record Strong Gains
Gold prices also advanced in India's commodity futures market.
On November 4, December gold futures on the Multi Commodity Exchange of India closed at Rs 1,43,234 per 10 grams, registering an increase of Rs 3,782 or approximately 2.71% from the previous close.
On November 5, domestic futures continued to attract buying interest. MCX gold futures were trading around Rs 1,46,030 per 10 grams during the morning session, according to market updates.
The movement in domestic futures reflected the recovery in international bullion prices and changing expectations in global financial markets.
Silver also witnessed a significant increase. December silver futures on MCX closed at Rs 1,87,735 per kilogram on November 4, gaining approximately 4.48%.
Dhanteras Demand Adds Support to Gold Prices
The timing of the rally is important for India's jewellery industry because Dhanteras is one of the most significant occasions for purchasing gold and silver.
Many households traditionally purchase gold jewellery, coins and other precious metal products during the festival. As a result, demand from retail customers can influence the domestic bullion market during this period.
However, higher gold prices may affect the purchasing decisions of consumers, particularly those planning to buy jewellery within a fixed budget.
Jewellery buyers are advised to compare prices across established retailers and check the purity, hallmarking details, making charges and applicable taxes before completing their purchases.
What Should Gold Buyers Watch Next?
Market participants are expected to closely monitor movements in the US dollar, Treasury yields and upcoming economic indicators.
The US employment report scheduled for November 6 could provide further information about the strength of the American economy and the Federal Reserve's future monetary policy decisions.
Expectations regarding interest rates can influence gold prices because changes in borrowing costs and bond yields affect the attractiveness of non-interest-bearing assets.
Currency movements will also remain important for Indian buyers. A weaker Indian rupee can increase the domestic cost of imported gold, while a stronger rupee may reduce some of the impact of rising international prices.
Overall, gold prices have gained strong momentum following the US midterm election results. With Dhanteras approaching, domestic demand and international market developments are likely to remain important factors influencing gold prices in India.
