India’s Current Gold Rate: See Price Trends in Your City on November 5
As of November 5, 2023, the retail price of 10 grams of gold varies depending on the city, with an average of around Rs 62,000. To be more precise, 10 grams of 24 carat gold costs around Rs 61,640, but the same amount of 22 carat gold is about Rs 56,500. Furthermore, the present price per kilogram of silver is fixed at Rs 75,000.
India’s retail gold rate as of November 5
Delhi Gold Rate
Customers in Delhi must pay Rs 61,790 for 10 grams of 24-carat gold and Rs 56,650 for 10 grams of 22-carat gold.
Ahmedabad Gold Rate
Ten grams of 22-carat gold now sell for Rs 56,550 in Ahmedabad, while the same quantity of 24-carat gold is available for Rs 61,690.
Chennai Gold Rate
Ten grams of 22-carat gold costs Rs 57,150 at retail in Chennai, whereas the same amount of 24-carat gold costs Rs 62,350.
Check gold rates today in different cities on November 05, 2023; (In Rs/10 grams)
| CITY | 22 CARAT GOLD PRICE | 24 CARAT GOLD PRICE |
| Mumbai | 56,500 | 61,640 |
| Gurugram | 56,650 | 61,790 |
| Kolkata | 56,500 | 61,640 |
| Lucknow | 56,650 | 61,790 |
| Bengaluru | 56,500 | 61,640 |
| Jaipur | 56,650 | 61,790 |
| Patna | 56,550 | 61,690 |
| Bhubaneshwar | 56,500 | 61,640 |
| Hyderabad | 56,500 | 61,640 |
Trade in Multiple Commodities
Gold futures with an expiration date of December 5, 2023 were trading at Rs 61,025 on the Multi Commodity Exchange on November 3, Friday. In contrast, the price of silver futures with the same maturity date was Rs 72,287.
The price at which gold is sold to domestic customers is known as its retail cost. A number of factors influence this pricing, including the value of the Rupee, the global gold price, and the labor and material expenses associated with making gold jewelry.
The following are a few variables that might affect the price of gold:
Supply and Demand: The market’s dynamic interaction between supply and demand largely determines the price of gold. Prices usually rise in response to an increase in demand, but they may also fall in response to an excess supply of gold.
Global Economic Conditions: Gold prices are significantly influenced by the state of the world economy as a whole. Gold’s price rises because investors generally gravitate to it as a safe haven during times of recession or unrest in the world economy.
Political Instability: Moreover, gold prices may be significantly impacted by political instability. In times of political unrest or disaster in a major country or area, investors may choose to protect their wealth by using gold as a hedge against risk. The price of gold may rise as a consequence of this increased demand.
Due to its historical significance in Indian culture, financial potential, and marriage and festival customs, gold is highly valued.
