Gold value at present in India on November 07: India is the most important importer of gold, which primarily caters to the demand of the jewelry business. (Representative picture)
Gold Rate Today In India: As of November 7, 2023, there’s a variation within the retail costs of 10 grams of gold throughout completely different cities, with a median settling round Rs 62,000. Specifically, the fee for 10 grams of 24-carat gold is roughly Rs 61,500, whereas an equal amount of 22-carat gold instructions a worth of Rs 56,340. Moreover, the present charge for silver is about at Rs 75,200 per kilogram.
Retail gold charge in India: November 07
Delhi Gold RateÂ
In Delhi, clients have to pay Rs 56,490 for 10 grams of twenty-two-carat gold and Rs 61,610 for the same amount of 24-carat gold.
Ahmedabad Gold RateÂ
In Ahmedabad, the present retail value for 10 grams of twenty-two-carat gold is Rs 56,390, and the corresponding quantity of 24-carat gold is on the market at Rs 61,510.
Chennai Gold RateÂ
In Chennai, the retail value for 10 grams of twenty-two-carat gold is Rs 57,990, and for the same amount of 24-carat gold, it’s Rs 62,180.
Check gold charges at present in several cities on November 07, 2023; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Mumbai | 56,340 | 61,460 |
| Gurugram | 56,490 | 61,610 |
| Kolkata | 56,340 | 61,460 |
| Lucknow | 56,490 | 61,610 |
| Bengaluru | 56,340 | 61,460 |
| Jaipur | 56,490 | 61,610 |
| Patna | 56,390 | 61,510 |
| Bhubaneshwar | 56,340 | 61,460 |
| Hyderabad | 56,340 | 61,460 |
Multi Commodity Exchange
On November 07, gold futures expiring on December 05, 2023, had been being traded at Rs 60,560 on the Multi Commodity Exchange. Conversely, silver futures with the identical maturity date had been priced at Rs 71,629.
The retail value of gold is the quantity at which it’s vended to customers inside the nation. This pricing is formed by various parts, encompassing the worldwide gold value, the Rupee’s worth, and the prices linked to labour and supplies employed within the manufacturing of gold jewelry.
Here are a number of elements that may exert affect on the worth of gold:
Supply and Demand: The gold value is primarily decided by the dynamic interaction of provide and demand available in the market. An enhance in demand usually results in an increase in value, whereas a surplus within the provide of gold can drive costs down.
Global Economic Conditions: The broader international financial panorama additionally exerts a considerable impression on gold costs. During durations of world financial instability or recession, traders usually flip to gold as a secure haven, inflicting its value to extend.
Political Instability: Furthermore, political instability can have a notable impact on gold costs. When there may be political turmoil or disaster in a major nation or area, traders might choose to safe their property by investing in gold as a hedge towards uncertainty. This heightened demand can lead to an uptick within the value of gold.
Gold holds nice significance in India as a result of its cultural significance, funding worth, and longstanding position in weddings and festivals.
