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Gold Rate Falls Today In India: Check 24, 22 Carat Prices In Your City On November 11 – News18

Gold price today in India on November 11: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)

Gold rate today: The retail cost of gold is the amount at which it is vended to consumers within the country.

Gold Rate Today In India: As of November 11, 2023, the retail prices for 10 grams of gold exhibit variations across various cities, averaging around Rs 61,000. More precisely, 10 grams of 24-carat gold are priced at approximately Rs 61,080, whereas the same quantity of 22-carat gold is valued at Rs 55,990. Additionally, the existing rate for silver stands at Rs 73,500 per kilogram.

Also Read: Light Up Your Investments This Diwali: Know Latest Interest Rates On Top Govt Schemes

Retail gold rate in India: November 11

Delhi Gold Rate 

In Delhi, customers need to pay Rs 56,140 for 10 grams of 22-carat gold and Rs 61,240 for the same quantity of 24-carat gold.

Ahmedabad Gold Rate 

In Ahmedabad, the current retail price for 10 grams of 22-carat gold is Rs 56,040, and the corresponding amount of 24-carat gold is available at Rs 61,130.

Chennai Gold Rate 

In Chennai, the retail price for 10 grams of 22-carat gold is Rs 56,440, and for the same quantity of 24-carat gold, it is Rs 61,570.

Check gold rates today in different cities on November 11, 2023; (In Rs/10 grams)

City 22 Carat Gold Price 24 Carat Gold Price
Mumbai 55,990 61,080
Gurugram 56,140 61,240
Kolkata 55,990 61,080
Lucknow 56,140 61,240
Bengaluru 55,990 61,080
Jaipur 56,140 61,240
Patna 56,040 61,130
Bhubaneshwar 55,990 61,080
Hyderabad 55,990 61,080

Multi Commodity Exchange

On November 10, gold futures expiring on December 05, 2023, were being traded at Rs 59,654 on the Multi Commodity Exchange. Conversely, silver futures with the same maturity date were priced at Rs 70,025.

The retail cost of gold is the amount at which it is vended to consumers within the country. This pricing is shaped by diverse elements, encompassing the worldwide gold price, the Rupee’s value, and the costs linked to labour and materials employed in the production of gold jewellery.

Here are several factors that can exert influence on the price of gold:

Supply and Demand: The gold price is primarily determined by the dynamic interplay of supply and demand in the market. An increase in demand typically leads to a rise in price, while a surplus in the supply of gold can drive prices down.

Global Economic Conditions: The broader global economic landscape also exerts a substantial impact on gold prices. During periods of global economic instability or recession, investors often turn to gold as a safe haven, causing its price to increase.

Political Instability: Furthermore, political instability can have a notable effect on gold prices. When there is political turmoil or crisis in a significant nation or region, investors may opt to secure their assets by investing in gold as a hedge against uncertainty. This heightened demand can result in an uptick in the price of gold.

Gold holds great significance in India due to its cultural importance, investment value, and longstanding role in weddings and festivals.

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