Gold prices in UAE recorded rally on November 6, 3035 as Republican Donal Trump defeated Democrat Kamala Harris in North Carolina in US Presidential elections. Meanwhile, Trump has been projected as the winner in Kentucky, Indiana and West Virginia and Kamala Harris in Vermont, according to latest report. Meanwhile, gold prices India too witnessed jump on November 6, 2024.

In Indian currency, 22k gold prices in Dubai today surged by Rs 2177 to Rs 70,246/10 grams and 100 grams of 22 carat precious metal prices today surged by Rs 21,773 to Rs 7,02,464 on November 6, 2024. 24K gold prices today stood at Rs 75,862/10 grams and 100 grams of 24 carat precious metal prices today rose by Rs 23,492 to Rs 7,58,616. 18k gold prices today gained by Rs 2636 to Rs 58,329/10 grams and 100 grams of 18 carat precious metal prices today rose by Rs 26,357 to Rs 5,83,286.

Gold Prices Dubai Vs Gold Price India: Gold price in India today rallied. 22k gold prices in India today rallied by Rs 100 to Rs 73,650/10 grams and 100 grams of 22 carat precious metal prices today zoomed by Rs 1000 to Rs 7,36,500. 24k gold prices in India gained by Rs 110 to Rs 80,350/10 grams and 100 grams of 24 carat yellow metal prices today stood at Rs 8,03,500. 18k gold prices today surged by Rs 80 to Rs 60,260/10 grams.

1 gram gold rate today for 22k jumped by Rs 218 to Rs 7,025 in Dubai and 1 gram gold rate today for 24k rose by Rs 235 to Rs 7586 after gain of Rs 235. 1 gram gold price today for 18 carat gold zoomed by Rs 264 to Rs 5833.

Silver Prices Today In India: Silver price in India today remained flat. 1 kg silver prices today in India are retailing at Rs 96,000. 100 grams silver prices in India today stood at Rs 9,600.

Spot Gold, Spot Silver Prices Today: Spot gold declined 0.2% to $2,738.89 per ounce, as of 0051 GMT. Spot silver declined 0.6% to $32.47 per ounce, platinum fell 0.7% to $992.92 and palladium fell 1.6% to $1,058.24, according to Reuters.

Why Gold Prices Jumped Today? According to Renisha Chainani, Head Research – Augmont – Gold For All, “after months of speeches, polls, debates, and suspense, election day is finally here. Yesterday, Americans went to the polls to pick between former President Donald Trump and current Vice President Kamala Harris. Both sides will spend like money grows on trees which is a tailwind for precious metals. Rising probabilities of Trump winning the election stoke concern about the imposition of potentially inflationary tariffs, driving US Treasury bond rates and the US dollar considerably higher. The US election results remove a huge source of uncertainty for markets, prompting a new wave of risk-on trade and further limiting the safe-haven gold price. Furthermore, Iran’s intentions for a retaliation strike in response to Israel’s attack on its land on October 26 raise concerns about the danger of further escalation of Middle Eastern hostilities.”

As suggested in the last week, Gold is likely to touch $2800 (~Rs 80000) before Diwali, exactly what happened. Now it seems, all the positives are discounted in the prices, so gold prices are heading for correction. Silver prices cannot sustain above its neckline resistance of $33 (~Rs 95700) and have corrected from highs. We are going to see some profit-booking and buying on dips and a lot of volatility today as US Election results will be announced late at night, added Renisha Chainani.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On November 6, 2024:

Story first published: Wednesday, November 6, 2024, 11:52 [IST]