Gold Rate Today in India, Check 22K, 24K Gold Price in India on November 07, 2024: The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 76,712 per 10 gm
Gold and silver rates today, November 07
The 24-carat gold rate in India was Rs 76,840 per 10 grams on November 06. The rate for 24-carat gold per gram is Rs 7,684 The rate of 22-carat gold was Rs 70,437 per 10 grams.
The rate of 24-carat gold has fallen by 2.29% in the last one week, and the yellow metal has plunged by 2.19% in the last ten days. The silver is currently quoted at Rs 95,710 per kilogram.
Experts on Gold & Silver Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold prices experienced intense volatility, fluctuating sharply between Rs 78,500 and Rs 77,500, as the U.S. election outcome bolstered the dollar index, which climbed to 105. This dollar strength pushed gold to lows of Rs 77,500 in INR terms and $2,700 in dollar terms.
Trivedi also added However, gold prices found some stability, recovering from oversold levels near $2,700 to around $2,725. Despite this recovery, a short-term bearish sentiment seems to prevail, with a critical resistance level at $2,740 and support at $2,680.
Why is gold a safe haven investment?
Gold is widely regarded as a safe-haven investment, providing protection against monetary expansion and helping preserve currency value. As central banks increase the money supply, gold acts as a hedge against potential currency devaluation, making it a reliable asset during uncertain economic times.
Its resilience to inflation further enhances its appeal. As living costs rise, gold’s value often appreciates in tandem, shielding investors from inflationary pressures. In economic downturns, gold generally outperforms other assets, helping protect portfolios from devaluation and offering a safeguard against financial instability.
Gold rate in Mumbai on November 07
The glittering metal was quoted for a price of Rs 76,840/10 grams in Mumbai on November 07. On November 06, the price of gold was Rs 78,600/10 grams. Seven days back, on October 31, gold was trading for Rs 78,530/10 grams.
Read More: Bitcoin Hits All-Time High of $75,000, Will It Rise Further? Check Cryptocurrency Prices Today
Silver rate in Mumbai on November 07
The shining metal silver was selling for a rate of Rs 91,050/Kg on November 07 in Mumbai. Whereas on November 06, the metal was priced at Rs 94,780/Kg and a week ago the price was Rs 94,840/Kg.
Gold rate in Kolkata on November 07
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 76,730/10 grams, today, November 07. The glittering metal was selling for Rs 78,490/10 grams on November 06 and was quoting for Rs 78,430/10 grams last week.
Silver rate in Kolkata on November 07
The silver rate in Kolkata today was Rs 90,930/Kg. The price of silver was Rs 94,660/Kg on November 06. Last week, the price was trading at Rs 94,720/Kg.
Gold rate in Delhi on November 07
On November 07, the gold was trading at a price of Rs 76,700/10 grams. The gold was quoted at Rs 78,460/10 grams on Wednesday, November 06. While the price of the 999 gold was selling for a price of Rs 78,400/10 grams a week ago.
Read More: Cost Of Home-Cooked Veg Thali Increases 20% In October
Silver rate in Delhi on November 07
In Delhi, the silver was priced at Rs 90,890/Kg on November 07. The price of silver was Rs 94,620/Kg on November 06. The price of silver was quoted at Rs 94,680/Kg last week.
Gold rate in Chennai on November 07
The gold rate in Chennai was Rs 77,060/10 grams today, November 07. On Wednesday 06-11-2024 the gold rate was quoted at Rs 78,820/10 grams. On October 31 or a week ago, the price of gold was Rs 78,760/10 grams in Chennai.
Silver rate in Chennai on November 07
The silver rate in Chennai today, November 06, is Rs 91,310/Kg. On November 06, the price of silver at Rs 95,060/Kg. The silver in Chennai was available to the customers for a price of Rs 95,100/Kg a week ago.
MCX Futures on November 07
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 76,712 per 10 gm, a fall of Rs 1795. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 90,900 per kg, decrease of over Rs 4000.
