Gold prices continued to hover near record highs on Tuesday, with 24-carat gold trading close to ₹1,24,600 per 10 grams in major Indian cities amid steady global demand and a softer US dollar.
Analysts attribute the upward momentum to rising safe-haven buying, geopolitical tensions, and expectations of interest rate stability by central banks across key economies.
Gold Price Today in Major Cities (per 10 grams of 24K)
| City | Gold Price (24K) | Gold Price (22K) |
|---|---|---|
| Delhi | ₹1,24,600 | ₹1,14,200 |
| Mumbai | ₹1,24,450 | ₹1,14,050 |
| Chennai | ₹1,25,200 | ₹1,14,800 |
| Kolkata | ₹1,24,500 | ₹1,14,100 |
| Bengaluru | ₹1,24,480 | ₹1,14,000 |
| Hyderabad | ₹1,24,400 | ₹1,13,950 |
Silver prices also remained firm at around ₹1,51,200 per kilogram, supported by industrial and investment demand.
Why Are Gold Prices Rising?
According to market experts, gold’s rally is being driven by a combination of macroeconomic and market factors:
Weaker US Dollar: The greenback’s softness has boosted global bullion prices.
Geopolitical Risks: Ongoing global uncertainties continue to fuel demand for gold as a safe-haven asset.
Central Bank Buying: Continued accumulation by Asian central banks is supporting long-term price stability.
“With inflation under control but global uncertainties persisting, gold is acting as both a hedge and an investment anchor,” said a commodity strategist.
Domestic prices also reflect the effect of import duty and rupee fluctuations, which tend to amplify international price movements.
MCX Gold Futures and Global Market Update
On the Multi Commodity Exchange (MCX), December gold futures were trading at around ₹1,24,100 per 10 grams, up ₹220 from the previous session.
In international markets, spot gold was steady near $2,570 per ounce, while silver traded around $30.15 per ounce.
Analysts say the next resistance level for gold lies at ₹1,25,000, and a breakout above that could trigger another short-term rally.
Should You Buy Gold Now?
Experts advise retail investors to exercise caution before making fresh entries at current highs.
While gold remains a strong hedge against inflation and global uncertainty, profit-booking at these levels could be expected.
💡 Investment Tip:
Prefer Sovereign Gold Bonds (SGBs) or digital gold for long-term investing.
Avoid leveraged positions, as volatility may rise with global interest rate changes.
Frequently Asked Questions (FAQ)
Q1: What is the gold price today in Delhi?
24K gold is priced at ₹1,24,600 per 10 grams, while 22K is at ₹1,14,200.
Q2: Why are gold prices rising?
Due to global economic uncertainty, weaker US dollar, and consistent central bank buying.
Q3: What is the price of silver today?
Silver is trading around ₹1,51,200 per kilogram in India.
Q4: Should investors buy gold at this level?
Only for long-term allocation. Avoid short-term trades at peak prices.
Q5: Which form of gold investment is best?
SGBs, ETFs, and digital gold are safer than physical purchases due to storage and purity assurance.
Published on : 11th November
Published by : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed
Source Credit : Reported by Pratiksha Thayil — NDTV Profit Commodities Desk