The gold and silver markets in India have experienced notable shifts in November 2024, with price variations reflecting both domestic and international influences. Gold prices, while mostly steady, have shown minor declines across major cities, while silver has faced sharper fluctuations. This article provides a detailed analysis of the current prices, recent trends, and factors influencing these precious metals.
The current rate for 24-carat gold is ₹7746.3 per gram.
The rate for 22-carat gold is ₹7102.3 per gram.
Over the past week, the 24-carat gold rate has dropped by 0.25%.
The one-month trend shows a broader decline of 1.46% for 24-carat gold.
Gold prices across Indian cities, including Delhi, Chennai, Mumbai, and Kolkata, have similarly shown downward trends this month. Minor fluctuations in these prices reveal a cooling period after recent highs.
Delhi: Gold prices today stand at ₹77,463 per 10 grams for 24-carat gold. This marks a decrease from yesterday's price of ₹78,933, and last week's rate of ₹78,733.
Chennai: In Chennai, the current rate for 24-carat gold is ₹77,311 per 10 grams, down from ₹78,781 yesterday and ₹78,581 a week ago.
Mumbai: Gold in Mumbai is priced at ₹77,317 per 10 grams. It has fallen from ₹78,787 yesterday and from ₹78,587 recorded last week.
Kolkata: Today, Kolkata's 24-carat gold rate is ₹77,315 per 10 grams, down from ₹78,785 yesterday and ₹78,585 last week.
Silver today is priced at ₹94,100 per kilogram.
The price has seen notable changes recently, with variations of around ₹2,000 per kilogram over the past week.
Silver prices appear more volatile compared to gold, as seen in the price shifts across major Indian cities.
Delhi: The current price of silver in Delhi is ₹94,100 per kilogram, down from ₹96,100 yesterday and last week.
Chennai: Silver today in Chennai is ₹1,02,700 per kilogram, a decrease from yesterday's rate of ₹1,04,700 and a similar rate a week ago.
Mumbai: In Mumbai, silver stands at ₹93,400 per kilogram, a drop from ₹95,400 yesterday and last week.
Kolkata: The silver rate in Kolkata today is ₹94,900 per kilogram, down from ₹96,900 recorded yesterday and last week.
These changes in silver prices reflect a range of factors influencing both demand and supply across the country.
In summary, November 2024 has seen a period of stability for gold, with slight declines recorded across major cities. Silver has experienced more noticeable fluctuations, particularly in cities like Chennai, where price changes have been sharper.
Both gold and silver prices remain underpinned by a combination of global demand, currency rates, and economic indicators. As the year-end approaches, many investors are eyeing possible shifts in the global economy, which could influence these metals' prices into 2025. The MCX futures market shows some optimism for both gold and silver, with modest price increases, reflecting anticipation of higher demand or potential price recovery in the coming months.
Keeping an eye on these market factors will be crucial for traders, investors, and consumers, as fluctuations in gold and silver prices can have a significant impact on investment portfolios, consumer behavior, and the overall economy.