Domestic gold prices fluctuated and fell sharply on Tuesday, November 5, as investors anticipated the US election on November 5 and the US Fed policy announcement on November 7. In India, the current price of gold is Rs 8,024 per gramme for 24-carat gold and Rs 7,355 per gramme for 22-carat gold. The US Federal Reserve (Fed) is anticipated to cut rates at its November 6-7 meeting this week, and the US presidential election is still ongoing with uncertainty surrounding the winner of the White House, as a result, the MCX Gold for December 5 expiry traded 0.13 per cent lower at Rs 78.20 per 10 grammes at approximately 10:45 am.

Gold Price India Today

While 100 grammes of 22k gold saw a price decline of Rs 1500 to Rs 7,35,500 on Tuesday, which was Rs 7,37,000 yesterday, 10 grammes of 22karat gold saw a price drop of Rs 150 to Rs 73,550 on Tuesday from Rs 73,700 on Monday. On the other hand, the price of 24k of 10 grammes of gold in India is Rs 80,240 today, down from Rs 80,400 yesterday, indicating a 160 rupee drop in value. Similarly, the price of 100 grams of 24k gold dropped by Rs 1,600 in a single day, from Rs 8,04,000 yesterday to Rs 8,02,400 today. On Tuesday, the price of 10 grams of 18k gold is Rs 60,180, down Rs 120 from yesterday’s price of Rs 60,300. Meanwhile, 100 grams of 18k gold is now priced at Rs 6,01,800, down Rs 1,200 from yesterday’s price of Rs 6,03,000.

Silver Price In India Today

The price of silver in India today is Rs 96 per gram and Rs 96,000 per kilogram. 10 grams of silver is priced today at Rs 960 in India which was Rs 970 yesterday representing a price drop by Rs 10. 100 grams of silver was priced at Rs 9,600 on Tuesday which was Rs 9,700 on Monday representing a price drop of Rs 100. Similarly, 1000 grams of silver is priced today at Rs 96,000 compared to Rs 97,000 on Monday representing a price drop of Rs 1000 in a single day.

Spot Gold Today

As investors were kept a close eye on the outcome of the U.S. presidential election and the Federal Reserve policy meeting later this week, gold traded in a narrow range on Tuesday. By 02:25 GMT, spot gold had dropped 0.1% to $2,733.39 an ounce. According to Reuters, the price of gold reached a record high of $2,790.15 last week. At $2,742.40, U.S. gold futures saw a 0.1% decline. According to Reuters, palladium climbed by 0.2% to $1,076.50, platinum dropped 0.1% to $982.50, and spot silver remained stable at $32.46 an ounce.

MCX Gold Outlook Today

“The domestic yellow metal MCX (Dec 2024 Contract) gold traded in a tight range and closed with formation of doji kind of candle on daily chart suggesting consolidation may continue and it can move towards 79200/80000/80500/81000 levels. On the higher side. However, On the downside, the support for the MCX Gold is seen at 78150/77640/77110 levels. Technically the short-term trend on GOLD is likely to remain positive and traders are advised to trade with strict stoploss as volatility may remain high due to ongoing geopolitical tensions in middle east and fed interest rate decisions,” said the research analysts of Way2Wealth Brokers Private Ltd.

Gold & Silver Outlook Today

“Gold and silver prices are trading marginally lower today on the international bourses. We expect gold and silver prices to trade range-bound to slightly lower for the day; as gold prices are steady as the market braced for a tight US election, and a Federal Reserve rate decision later in the week,” said Nirmal Bang Securities Pvt. Ltd.

1 Gram of 22k Gold Prices In Top Metropolitan Cities In India Today