India, Nov. 2 -- Gold and silver prices in India edged lower on Monday, November 2, offering some relief to buyers ahead of the Diwali and Dhanteras shopping season. The price of 24-karat gold stood at Rs.13,887 per gram, while 22-karat gold was priced at Rs.12,729 per gram. The rate of 18-karat gold was Rs.10,415 per gram.

Silver was trading at Rs.199.90 per gram, taking the price of one kilogram to Rs.1,99,900.

The latest movement comes as consumers prepare for one of India's busiest periods for jewellery and precious metal purchases. However, the daily correction may not necessarily translate into lower jewellery bills, as making charges and applicable taxes are added to the base metal price.

Gold rate today in India: 24K, 22K and 1...