Gold, silver rates today on November 3: After days of dizzying highs, gold appears to have entered a correction zone. The latest data from Bloomberg shows the metal slipping further below the $4,000-an-ounce mark. On a day-on-day basis, gold prices in India registered a slight decline, with today's rate at Rs 1,22,990, according to Goodreturns. Gold Purity Price (Rs per 10g) 24K Rs 1,22,990 22K Rs 1,12,740 18K Rs 92,240 Data by Goodretturns

The primary reason behind the fall in the precious metal is the Xi Jinping administration's decision to end a long-standing tax rebate for some retailers. The move by China is expected to impact demand in one of the world's largest precious metals markets, Bloomberg reported on Monday.

Despite the recent pullback, gold prices remain more than 50% h

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