Gold Price In India Today, Nov-28: 24K/100 Grams Gold Rates Falls Rs 1,600; Silver Unchanged

Gold prices in India fell precipitously on Thursday, November 28, amid geopolitical advancements, including Russia's defence ministry claiming that Ukraine had attacked the Russian S-400 air defence system. Because geopolitical threats are considerable and Fed officials believe interest rate cuts will only occur "gradually," gold rates may continue to fluctuate in the coming days. Gold prices are predicted to remain range-bound as investors continue to evaluate the latest round of US economic data, following Thursday's decline of spot gold below $2,630 per ounce.

Gold Rates Today In India

Gold now costs Rs 7,093 per gramme for 22 carat gold and Rs 7,735 per gramme for 24 carat gold in India. In India, the price of 22k of 10 grams of gold dropped by Rs 120 to Rs 70,930 on Thursday from Rs 71,050 on Wednesday. Meanwhile, the price of 22k of 100 grams of gold dropped by Rs 1,200 to Rs 7,09,300 today from Rs 7,10,500 yesterday.

While the price of 24k of 100 grammes of gold fell by Rs 1,600 to Rs 7,73,500 on Thursday from Rs 7,75,100 on Wednesday, the price of 24k of 10 grammes of gold fell to Rs 77,350 today, down by Rs 160 from Rs 77,510 yesterday.

While the price of 18k of 100 grammes of gold dropped by Rs 1,200 to Rs 5,80,100 on Thursday from Rs 5,81,300 on Wednesday, the price of 18k of 10 grammes of gold will cost Rs 58,010 today in India, which is Rs 120 less than it was yesterday at Rs 58,130 price level.

Spot Gold Today

Thursday saw a decline in gold prices as the US currency gained momentum. As of 0302 GMT, spot gold dropped 0.3% to $2,627.60 per ounce. According to Reuters, U.S. gold futures fell 0.5% to $2,627.00. Palladium remained stable at $972.75, platinum dropped 0.1% to $928.05, while spot silver dropped over 1% to $29.78 an ounce.

Silver Rates Today In India

India's silver prices remained constant today, November 28. The current price of silver in India is Rs 89.50 per gramme and Rs 89,500 per kilogramme. Even though the price of one kilogramme of silver was unchanged on Thursday from Wednesday at Rs 89,500, 10 grams would now cost Rs 895 and 100 grams Rs 8,950.

MCX Gold Outlook

"The domestic yellow metal MCX Gold (Feb 2025 Contract closed higher with the contract expiry ahead. The commodity is presently approaching its crucial supply zones around 76800/77000 levels which should act as resistance. On the downside, support for MCX Gold lies at 74653/ 75000 levels with a break below 75000 level can potentially drag prices toward 74000/73500 levels. Traders are advised to trade with strict stoploss as volatility may remain high due to ongoing geopolitical issues," said the research analysts of Way2Wealth Brokers Private Ltd.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading lower today on the international bourses. We expect gold and silver prices to trade range-bound to marginally lower for the day; as gold prices are steady for a second day, with investors assessing the outlook for US interest rates following inflation data that supported the case for a cut next month," said the broking firm Nirmal Bang Securities Pvt. Ltd.

Spot Gold Outlook Today

"Spot gold is extending its recovery to the second day today as yesterday, it bounced off the support at $2600 to close at $2631, up around 0.25%. Presently, it is trading at $2647, up nearly 0.50% on the day. Yesterday's recovery was aided by geopolitical developments as Russia's defence ministry said that Ukraine had targeted Russian S-400 air defence systems and airfield in Kursk with ATACMS missiles recently. Russia vowed a retaliation. The FOMC minutes released overnight reflected that the Fed members want future rate cuts to be gradual. Today, gold is up on drop in the yields and consequently, softer Dollar ahead of the US data dump which contains the PCE deflator inflation data as the major attraction for traders. Gold is likely to trade between $2565 and $2665 in the near term. As geopolitical risks abound, buying the dips is advisable," said Praveen Singh - Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Disclaimer

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