Gold prices in India fell on 10 November, bringing relief to retail buyers after a recent surge. The 22-carat gold rate slipped by Rs 450 per 10 grams to cost Rs 1,32,100. Meanwhile, silver prices stayed stable, with 1kg of silver in India costing Rs 2,05,000 on 10th November.
Gold prices in India declined today, with 24-carat gold falling by Rs 4,900 per 100 grams, offering some relief to retail buyers after yesterday's surge.
Internationally, spot gold slipped to around $4,120 per ounce as investors awaited key US inflation data and assessed the Federal Reserve's interest-rate outlook. Higher interest-rate expectations weighed on the non-yielding precious metal, while Monday's nearly 2% rally, supported by falling crude oil prices and hopes of a possible US-Iran peace agreement, gave way to profit booking.
Gold Prices in India Drop Sharply After Bull Run
On 10 November, both pure and standard gold fell. As of today, the 22-carat gold rate in India slipped by Rs.450 per 10 grams to cost Rs.1,32,100. While the 24-carat gold price is off-peak at Rs. 1,44,110, slipping Rs. 450. Similarly, the 18-carat gold rate also dropped Rs.370 to retail at Rs.1,08,080 per 10 grams.
In a similar line, the 100 grams of 22-carat gold plunged Rs.4500 to stand at Rs. 11,22,500. While the 24-carat gold prices in India per 100 grams decreased to Rs. 8200 which is now retailing at Rs. 12, 24,600.
Silver Rates in India Today
Silver prices in India on Tuesday stayed stable. On 10th November, 1kg of silver in India cost Rs. 2,05,000. While 100g of silver rates in India retail at Rs. 20,500.
Latest 22-Carat & 24-Carat Gold Prices Across India: City-Wise
Current 22-carat and 24-carat gold prices in major Indian cities are similar to today's Indian gold prices.
MCX Gold Price and Silver Price
MCX trading is halted today due to a market holiday. At the end of trading on Monday, gold futures prices due to mature on December 4th ended the session 0.04% lower at Rs 1,43,106 per 10 grams. Silver futures, which are also maturing on December 4th settled 0.06% lower at Rs 1,87,015 per Kg.
Market Outlook for Gold Prices
"Spot Gold is expected to find firm support near $4,050, with a potential rebound toward $4,160 driven by a softer U.S. dollar and a correction in Treasury yields. While the CME Fed-Watch Tool indicates that traders see an 80% chance of a Federal Reserve rate hike in December, underlying demand remains robust. Central banks accelerated their physical gold buying in the third quarter to its fastest pace since late 2024, spearheaded by China's central bank expanding its gold purchases for the 23rd consecutive month." as per ICICI Direct Commodity Report.
"Furthermore, a recent pullback in crude oil prices could ease broader inflationary anxieties, offsetting the headwinds of tighter monetary policy and providing additional structural support for bullion." it is further mentioned.