Gold Rate Today in India, Check 22K, 24K Gold Price in India on November 18, 2024: The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 74,031 per 10 gm
Gold prices in India have fallen by 4% over the past ten days, making it an attractive option for buyers. Recent reports indicate that gold in India is now cheaper than in countries like Oman, Singapore, the United Arab Emirates (UAE), and Qatar.
Traditionally, many shoppers buy gold and precious jewelry from duty-free shops in the Middle East. However, with the current price advantage in India, travelers may find it more cost-effective to consider local Indian markets for better deals.
One key factor contributing to higher gold prices in the Middle East is the ongoing geopolitical tensions in the region. The Israel-driven conflict has intensified demand for gold, a well-known safe-haven investment during periods of uncertainty. As a result, the prices of gold and silver have surged in regional markets.
In contrast, gold prices in India have dropped, in line with global trends, which have seen the yellow metal experience its sharpest weekly decline in over three years. Spot prices in the United States dropped by 4.5%, bringing the metal to a two-month low of around $2,563.25 per troy ounce.
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Gold Price in India vs Other Global Markets
Specific pricing details show the disparity in costs across regions. In Oman, gold is retailing at Rs 2,193 for 100 grams of 22K and 24K gold. A 10-gram bar of 24K gold is priced at Rs 75,763, up by Rs 220.
In Qatar, the price of gold surged significantly, with 100 grams of 24K gold reaching Rs 7,62,934, an increase of Rs 25,470 in a single day. The price for 10 grams of 24K gold in Qatar also rose by Rs 2,547 to Rs 76,293.
Singapore’s gold prices also remain higher than in India, with 10 grams of 24K gold priced at Rs 76,805.
Meanwhile, in the UAE, gold prices reached record highs, with 100 grams of gold priced at Rs 7,62,039 and 10 grams retailing at Rs 76,204, marking an increase to Rs 24,712 and Rs 2,471, respectively.
Gold and Silver Rates in India Today on November 18
The 24-carat gold rate in India was Rs 74,260 per 10 grams on November 18. The rate for 24-carat gold per gram is Rs 7,426. The rate of 22-carat gold was Rs 68,072 per 10 grams.
The rate of 24-carat gold has fallen by 1.07% in the last one week, and the yellow metal has plunged by 4.09% in the last ten days. The silver is currently quoted at Rs 89,110 per kilogram.
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Experts on Gold & Silver Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that “Gold’s weakness persisted with price falling below 2550$ and near 73500rs in MCX as the dollar climbed above 106.50 and edged closer to 107. The US CPI data, which came in higher at 2.6% compared to the expected 2.4%, fueled the dollar’s strength.
Trivedi also added that the Fed has been continuing with rate cuts as inflation approached its 2% target, the higher-than-expected CPI reading raises concerns that further cuts may be paused. This development added pressure on gold prices, which reacted negatively to the stronger dollar and the potential shift in Fed policy.
Gold rate in Mumbai on November 18
The glittering metal was quoted for a price of Rs 74,260/10 grams in Mumbai on November 18. On November 14, the price of gold was Rs 74,240/10 grams. Seven days back, on November 11, gold was trading for Rs 74,620/10 grams.
Silver rate in Mumbai on November 18
The shining metal silver was selling for a rate of Rs 89,110/Kg on November 18 in Mumbai. Whereas on November 14, the metal was priced at Rs 89,090/Kg and a week ago the price was Rs 89,3000/Kg.
Gold rate in Kolkata on November 18
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 74,160/10 grams, today, November 18. The glittering metal was selling for Rs 74,140/10 grams on November 14 and was quoting for Rs 75,370/10 grams last week.
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Silver rate in Kolkata on November 18
The silver rate in Kolkata today was Rs 89,000/Kg. The price of silver was Rs 88,980/Kg on November 14. Last week, the price was trading at Rs 89,180/Kg.
Gold rate in Delhi on November 18
On November 18, the gold was trading at a price of Rs 74,130/10 grams. The gold was quoted at Rs 74,110/10 grams on Thursday, November 14.
While the price of the 999 gold was selling for a price of Rs 75,340/10 grams a week ago.
Silver rate in Delhi on November 18
In Delhi, the silver was priced at Rs 88,960/Kg on November 18. The price of silver was Rs 88,940/Kg on November 14. The price of silver was quoted at Rs 89,150/Kg last week.
Gold rate in Chennai on November 18
The gold rate in Chennai was Rs 74,470/10 grams today, November 18. On Thursday 14-11-2024 the gold rate was quoted at Rs 74,510/10 grams. On November 11 or a week ago, the price of gold was Rs 75,710/10 grams in Chennai.
Silver rate in Chennai on November 18
The silver rate in Chennai today, November 18, is Rs 89,370/Kg. On November 14, the price of silver at Rs 89,390/Kg. The silver in Chennai was available to the customers for a price of Rs 89,550/Kg a week ago.
MCX Futures on November 18
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 74,031 per 10 gm, a fall of Rs 123. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 88,505 per kg, a drop of Rs 365.
