Gold Rate Today in India, Check 22K, 24K Gold Price in India on November 19, 2024: The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 75,012 per 10 gm
Gold prices have experienced a sharp correction, falling around 6% since Diwali. On November 1, the price of 24-carat gold per 10 grams was at Rs 80,710, but recent market pressures have driven it down to Rs 74,031. This decline is primarily attributed to a stronger dollar and investor concerns over US inflation data, which continue to influence the broader commodity markets.
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Despite The Fall Gold Yields 64% in Two Years
Despite the recent dip, gold has shown remarkable gains over the past year, rising nearly 37%. This uptrend reflects the metal’s enduring role as a safe-haven asset, especially in the context of fluctuating currency rates and ongoing geopolitical instability. Compared to October last year, this substantial increase underscores gold’s appeal to investors seeking shelter from economic uncertainties.
A longer-term analysis reveals an even more pronounced upward trajectory. Since October 2022, gold prices have soared by approximately 64%, underscoring the impact of global economic factors, such as currency volatility, and geopolitical tensions, on demand for the precious metal. As global economic pressures and geopolitical issues persist, gold remains a cornerstone investment for those prioritizing stability in their portfolios.
Gold and Silver Rates in India Today on November 19
The 24-carat gold rate in India was Rs 75,210 per 10 grams on November 19. The rate for 24-carat gold per gram is Rs 7,521. The rate of 22-carat gold was Rs 68,943 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 Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold traded strongly positive due to heightened geopolitical tensions between Russia and Ukraine. President Joe Biden’s authorization for Ukraine to use powerful American long-range weapons to strike within Russia escalated the conflict.
Trivedi also added that in response, Moscow deployed around 50,000 troops to the southern region of Kursk, further intensifying concerns. This geopolitical risk bolstered gold prices as investors turned to safe-haven assets. Key support for gold is seen around Rs 74,200–74,250, while resistance stands at Rs 75,100.
Gold rate in Mumbai on November 19
The glittering metal was quoted for a price of Rs 75,210/10 grams in Mumbai on November 19. On November 18, the price of gold was Rs 74,260/10 grams. Seven days back, on November 12, gold was trading for Rs 75,070/10 grams.
Silver rate in Mumbai on November 19
The shining metal silver was selling for a rate of Rs 90,710/Kg on November 19 in Mumbai. Whereas on November 18, the metal was priced at Rs 89,110/Kg and a week ago the price was Rs 89,440/Kg.
Gold rate in Kolkata on November 19
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 75,110/10 grams, today, November 19. The glittering metal was selling for Rs 74,160/10 grams on November 18 and was quoting for Rs 74,970/10 grams last week.
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Silver rate in Kolkata on November 19
The silver rate in Kolkata today was Rs 89,510/Kg. The price of silver was Rs 89,000/Kg on November 18. Last week, the price was trading at Rs 89,320/Kg.
Gold rate in Delhi on November 19
On November 19, the gold was trading at a price of Rs 75,080/10 grams. The gold was quoted at Rs 74,130/10 grams on Monday, November 18.
While the price of the 999 gold was selling for a price of Rs 74,490/10 grams a week ago.
Silver rate in Delhi on November 19
In Delhi, the silver was priced at Rs 90,550/Kg on November 19. The price of silver was Rs 88,960/Kg on November 18. The price of silver was quoted at Rs 89,280/Kg last week.
Gold rate in Chennai on November 19
The gold rate in Chennai was Rs 75,420/10 grams today, November 19. On Monday 18-11-2024 the gold rate was quoted at Rs 74,470/10 grams. On November 12 or a week ago, the price of gold was Rs 75,290/10 grams in Chennai.
Silver rate in Chennai on November 19
The silver rate in Chennai today, November 19, is Rs 90,970/Kg. On November 18, the price of silver at Rs 89,370/Kg. The silver in Chennai was available to the customers for a price of Rs 89,700/Kg a week ago.
MCX Futures on November 19
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 75,012 per 10 gm, an increase of Rs 1066. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 90,476 per kg, jump of Rs 2055.
