Gold Rate Today: Gold price edged up on November 23, 2021 but hovered close to their lowest level in more than 2weeks, hit in the previous session, as the dollar gained on US President Joe Biden’s nomination of Federal Reserve Chair Jerome Powell for a second term.
Is gold a good investment option in India?
We dive straight into the discussion and explain the top factors why gold makes a good investment choice atthe moment. Gold is considered good hedge against currency debasement and inflation. Thus gold becomes a hedge againstinflation as over a longer period, it is seen to offer higherthan-inflation returns.
Gold Rate in New Delhi Today
The rate of 10 grams of 22-carat gold in New Delhi and Mumbai, has reached Rs 47,900 and Rs 48,250 respectively
Common factors that determine gold prices in India
The purchasing price of 10 grams of 24-carat gold in India is Rs 49,200 today, 23 November, witnessing a fall of Rs 80 compared to yesterday’s selling amount of Rs 49,280. Meanwhile, the value of silver reached Rs 64,600 per kilo, falling by Rs 1,000 compared to yesterday’s selling price of Rs 65,600.
Throughout the country, the rate of yellow metal fluctuates every day due to its state taxes, making charges and excise duties.
How is the per-gram gold rate today in India arrived at?
The price of 10 grams of 22-carat gold in New Delhi and Mumbai, has reached Rs 47,850 and Rs 48,200 respectively. Meanwhile, the same quantity of 22-carat gold in Kolkata is being sold at Rs 48,200 and in Chennai, the precious yellow metal has touched Rs 46,000.
As per the Good Returns website, the rate of 10 grams of 24-carat gold in Mumbai is being traded at Rs 49,200. While in New Delhi, for the same quantity the much-in-demand metal is priced at Rs 52,200. Additionally, in Kolkata and Chennai, 10 grams of the precious metal is being purchased at Rs 50,700 and Rs 50,180 respectively.
Moreover, in other cities including Patna and Nagpur, the price of 10 grams of 22-carat gold is being sold at Rs 47,100 and Rs 48,200. Whereas in Bengaluru and Hyderabad, the rate of 10 grams of 24-carat gold is being procured at Rs 49,850 in both places. Moreover, the rate of 22-carat gold is Rs 45,700 in both popular cities.
In Lucknow and Mysore, 10 grams of 22-carat gold is being traded at Rs 46,600 and Rs 45,700. Also, the purchasing price of 24-carat gold is Rs 49,600 and Rs 49,850, in both places respectively today. Whereas in Chandigarh, 10 grams of 22-carat is being sold at Rs 46,600 while for the same quantity, 24-carat gold is priced at Rs 49,600.
Global markets
Spot gold rose 0.2 per cent to $1,809.40 per ounce by 0048 GMT, after sliding 2.1 per cent to its lowest since Nov. 5 on Monday. U.S. gold futures gained 0.2 per cent to $1,809.60.
Spot silver rose 0.4 per cent to $24.25 per ounce. Platinum gained 0.4 per cent to $1,015.51 and palladium rose 1.3 per cent to $1,978.97.
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