Gold Rates In India Today Unchanged For First Time In Week; 24K, 22K, 18K Gold Prices On Nov-8; Weekly Outlook

Gold rates in India are unchanged on November 8, for the first time in six days. Since the start of the latest week's trading session, both gold and silver prices have faced ups and downs. In the past six days, eventually, 100 grams and 10 grams gold prices have declined by Rs 9,800 and Rs 980 under 24 carat. However, on Saturday, except for gold rates in Chennai, prices are flat across other cities. Similar trend is seen in 22 carat and 18 carat. Silver rates in India are also unchanged currently.

In the week ahead, investors will await key inflation data in both US and India, alongside observing speeches from Federal Reserve members.

Gold Rates In India:

24 Carat Gold Prices:

10 grams gold price is at Rs 1,22,020, while 100 grams gold price stood at Rs 12,20,200, 8 grams price at Rs 97,616 and 1 gram gold is at Rs 12,202.

22 Carat Gold Prices:

On November 8, 10 grams gold price is at Rs 1,11,850, 100 grams gold at Rs 11,18,500, 8 grams gold price at Rs 89,840 and 1 gram gold is at Rs 11,185.

18 Carat Gold Prices:

Furthermore, 10 grams gold price stood at Rs 91,520 in 18 carat, while the prices are at Rs 9,15,200 per 100 grams, at Rs 73,216 per 8 grams and at Rs 9,152 per 1 gram.

Gold Prices Weekly Performance:

Gold prices are unchanged after a volatile week. Before this, 100 grams gold price in 24 carat slipped by Rs 5,500 on November 7, after a surge of Rs 10,900 on November 6. 100 grams gold of 24 carat was also down by Rs 9,800 on November 5 and lower by Rs 7,100 on November 4. The price saw an upside of Rs 1,700 on November 3rd.

From November 3rd to 8th, 100 grams gold price has dropped by Rs 9,800 in 24 carat, while 10 grams is down by Rs 980 hence.

Check Gold Prices In Major Cities:

Gold Rates In Chennai:

Gold rates in Chennai climbed sharply by Rs 3,300 and Rs 330 in 100 grams and 10 grams of 24 carat. While 100 grams gold is up by Rs 3,000 in 22 carat and higher by Rs 2,500 in 18 carat. In case of 10 grams gold, the price surged by Rs 300 in 22 carat and up by Rs 250 in 18 carat on Saturday.

Currently, 10 grams gold price stood at Rs 1,23,280 in 24 carat, at Rs 1,13,000 in 22 carat and at Rs 94,250 in 18 carat.

Gold Rates In Bengaluru:

10 grams gold price stood at Rs 1,22,020 in 24 carat, at Rs 1,11,850 in 22 carat and at Rs 91,520 in 18 carat.

Gold Rates In Mumbai:

10 grams gold price stood at Rs 1,22,020 in 24 carat, at Rs 1,11,850 in 22 carat and at Rs 91,520 in 18 carat.

Gold Rates In Hyderabad:

10 grams gold price stood at Rs 1,22,020 in 24 carat, at Rs 1,11,850 in 22 carat and at Rs 91,520 in 18 carat.

Gold Rates In Delhi:

10 grams gold is at Rs 1,22,170 in 24 carat, at Rs 1,12,000 in 22 carat and at Rs 91,670 in 18 carat.

Check Gold Rates In Major Countries:

Gold Rates In Qatar:

1 gram gold price in 24 carat stood at 479 Qatari Riyal, which translates to Rs 11,653.

Gold Rates In Dubai:

1 gram gold price is at 485.25 dirham in 24 carat, which translates to Rs 11,714.

Gold Rates In Saudi Arabia:

1 gram gold price of 24 carat stood at 494 Saudi riyal, which is currently at 11,679 in Indian rupees.

Gold Rates In England:

1 gram gold price is at 97.86 sterling pound, which is about Rs 11,422.

Gold Rates In China:

1 gram gold is available at 916.80 Chinese yen, which translates to Rs 11,415.

Gold Rates In Sri Lanka:

1 gram gold is priced at 43,100 Sri Lankan rupee, which translates to Rs 12,535 in Indian rupees.

Except Sri Lanka, gold rates are cheaper in other countries compared to India.

Silver Rates In India:

1Kg silver price stood at Rs 1,52,000 on November 8, unchanged from the previous day. Meanwhile, 100 grams and 10 grams silver rates are at Rs 15,200 and Rs 1,520. Additionally, 1 gram silver is priced at Rs 152.

"Gold and silver prices are attempting to establish a base before the next unplug rise, following confirmation of supporting factors, including massive layoffs and the US government shutdown," Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions said.

Gold & Silver Prices Weekly Outlook:

As per Kothari, gold prices are expected to consolidate in the range of $3900 (Rs 117,500) to $4060 ( Rs 122,500) for the next few days, so buy on dips and sell on rallies. Silver prices are expected to consolidate in the range of 45.5(~Rs 140,000) and $49 (~Rs 150,000) for the next few days, so buy on dips and sell on rallies.

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Credit: Goodreturns