Gold Rate Today, November 12: Prices of gold and silver rose in India on Wednesday, amid expectations of a US Federal Reserve rate cut next month. In Mumbai, the price of 24-carat gold stood at Rs 1,25,850
per 10 grams, while 22k gold was available at Rs 1,15,360 per 10 grams. These rates do not include GST and making charges. Silver was available at Rs 1,60,100 per kg.
On the MCX, gold was up by 0.34% to trade at Rs 1,24,340 per 10 grams for the December 5 contracts in the futures market, while silver was trading higher by 0.67% to trade at Rs 1,55,725 per kg.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On November 12?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,15,510 | Rs 1,25,980 |
| Jaipur | Rs 1,15,510 | Rs 1,25,980 |
| Ahmedabad | Rs 1,15,410 | Rs 1,25,900 |
| Pune | Rs 1,15,360 | Rs 1,25,850 |
| Mumbai | Rs 1,15,360 | Rs 1,25,850 |
| Hyderabad | Rs 1,15,360 | Rs 1,25,850 |
| Chennai | Rs 1,15,360 | Rs 1,25,850 |
| Bengaluru | Rs 1,15,360 | Rs 1,25,850 |
| Kolkata | Rs 1,15,360 | Rs 1,25,850 |
Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, “Gold and silver continue to trade with strong swings. Early buying pushed prices higher, but profit-booking erased those gains. Gold eased from its recent 3-week high as optimism grew about the end of the U.S. shutdown and equity markets bounced back, reducing safe-haven demand. Still, both metals hold comfortably above their support levels. Weak U.S. labor data increased expectations of a Federal Reserve rate cut next month. Private employment figures indicated persistent job losses, pushing market odds of a 25 basis point cut to 68%. Investors await official economic data as the US government prepares to end its record shutdown, potentially easing uncertainty.”
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
/images/ppid_59c68470-image-1762867530450288.webp)
