Gold Price Crash in 2026: Gold Falls by More Than ₹17,000 per Sovereign in 11 Months

Gold prices in India have witnessed a significant decline in 2026, with the price of an eight-gram sovereign falling by more than ₹17,000 over the first 11 months of the year. The latest drop has surprised jewellery buyers and investors, as gold continues to trade well below its peak earlier in the year.

According to the figures reported on November 14, the price of gold fell by ₹960 per sovereign in a single day. The price declined by ₹120 per gram, taking the eight-gram rate to ₹1,01,560. This was reported as the lowest price recorded so far in 2026.

Gold Prices Fall Sharply After February Peak

At the beginning of 2026, one sovereign of gold was priced at ₹1,19,200. Prices then climbed sharply in February, reaching ₹1,24,400 per sovereign.

However, the upward trend did not continue. Gold prices began declining in the following months, gradually losing much of the gains recorded earlier in the year.

By the end of the previous month, the price had fallen to ₹1,01,840 per sovereign. Gold saw a small increase on the day before Deepavali, but the recovery did not last. Prices subsequently declined again, with the latest reduction bringing the rate down to ₹1,01,560.

Compared with the beginning-of-year price of ₹1,19,200, the latest rate represents a decline of ₹17,640 per sovereign. This highlights the scale of the correction in the domestic gold market during 2026.

Silver Prices Also Witness a Decline

Gold is not the only precious metal to experience a price drop. Silver prices have also moved lower.

On November 14, silver became cheaper by ₹5 per gram and was selling at ₹195 per gram. At the beginning of 2026, one gram of silver was priced at ₹210.

This means silver has declined by ₹15 per gram since the start of the year. The latest movement indicates that both gold and silver have faced downward price pressure in recent months.

What Does the Gold Price Decline Mean for Buyers?

The fall in gold prices may offer some relief to people planning jewellery purchases, particularly those who postponed buying when prices were significantly higher.

However, the final price paid at a jewellery shop may differ from the quoted gold rate. Making charges, wastage, applicable taxes and the jewellery design can all affect the final bill.

Investors should also remember that gold prices can fluctuate in response to international market movements, currency changes and economic developments. A decline over several months does not necessarily mean prices will continue falling.

Gold and Silver Prices: Key Figures

- Gold at the beginning of 2026: ₹1,19,200 per sovereign

- Gold`s February 2026 peak: ₹1,24,400 per sovereign

- Gold price on November 14: ₹1,01,560 per sovevereign

- Latest daily gold price reduction: ₹960 per sovereign

- Silver at the beginning of 2026: ₹210 per gram

- Silver price on November 14: ₹195 per gram

- Latest daily silver price reduction: ₹5 per gram

The sharp correction in gold prices during 2026 has changed the market outlook for jewellery buyers and investors. Anyone planning a purchase should check the latest local rates before making a decision, as prices can change from day to day.