Gold prices in India fluctuate daily due to a combination of global and domestic economic factors. International spot prices, currency movements—especially the strength of the US dollar—and local demand contribute significantly to these shifts.
Representational Image
Gold prices saw a marginal decline, with the yellow metal continuing to reflect steady but cautious market sentiment. Long regarded as a safe-haven asset, gold remains a preferred choice for investors seeking protection during periods of economic uncertainty and inflation.
According to reports, 24K gold (999 purity) is priced at Rs 12,703 per gram, showing a slight dip from the previous day. The popular 22K gold, which includes 91.67 per cent pure gold, stands at Rs 11,644 per gram, while 18K gold is available at Rs 9,527 per gram. All three variants recorded only minor adjustments in rates compared to earlier levels.
What Drives Gold Prices in India
Gold prices in India fluctuate daily due to a combination of global and domestic economic factors. International spot prices, currency movements—especially the strength of the US dollar—and local demand contribute significantly to these shifts. Seasonal spikes during festivals and weddings often push rates upward. Currently, a mild cooling in demand and easing inflationary pressure have contributed to the marginal dip in prices.
City-Wise Gold Prices
Gold prices across major Indian metros remained broadly aligned on November 15, with 24K rates hovering around the Rs 12,700 mark.
Chennai recorded the highest 24K price at Rs 12,806 per gram.
Delhi followed at Rs 12,718 per gram.
Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune all reported Rs 12,703 per gram.
Vadodara and Ahmedabad registered a slightly higher rate at Rs 12,708 per gram.
For 22K gold, prices ranged from Rs 11,644 per gram in most metros, including Mumbai, to Rs 11,739 per gram in Chennai. Vadodara and Ahmedabad reported the rate at Rs 11,649 per gram.
Meanwhile, 18K gold was priced at Rs 9,527 per gram across most major cities, touching Rs 9,789 per gram in Chennai.
Overall, the market displayed stable trends with only modest city-wise variations.
Silver Prices Also Reflect Mild Movement
Silver, another popular precious metal for investment and ornamentation, especially in culturally strong markets, also saw modest price movement. On Saturday, silver was priced at Rs 173.20 per gram, translating to Rs 1,73,200 per kilogram.
Both gold and silver continue to react to shifts in global market conditions, industrial usage patterns and domestic buying activity. With volatility expected to persist, investors and jewellery buyers may find it useful to keep track of daily price updates before making purchases.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
