Gold Price In Chennai On Nov 4 Remains Unmoved For The 2nd Consecutive Day; Check Latest Rates

Chennai gold rate has been stable for the past two days after the prices touched record high during the Diwali festivities. This long rally in gold prices has been due to the huge buying activity going on in the gold market. Gold is currently stable ahead of the US presidential election due tomorrow and the expectation of a rate cut from the federal reserve in its next policy meeting.

The gold price in Chennai today remained similar to yesterday's rate. For 10 grams of 24-carat gold, it is Rs. 73,040/-, and similarly, 22-carat gold rates in Chennai today mirrored yesterday's rate of Rs. 66,950/- for 10 grams. Likewise, the 18-carat gold price in Chennai today also saw no increase and stood at Rs. 54,780/- per 10 grams. For the higher weight category of gold as well, the rates maintained similar stability. Currently, 100 grams of 24-carat gold cost Rs. 8,04,000, and 100 grams of 22-carat gold retail at Rs. 7,37,000.

Global Uncertainties Weighs On Gold:

The beginning of this month has been notably bearish for precious metals, with gold pressured by the rising dollar and Treasury yields. However, this week's trade began with the dollar shedding its value as the entire world is now focused on the U.S. election result, which carries major potential to impart major changes in the commodity market.

The demand for gold in India jumped remarkably during the festival season, boosting the prices higher across the country. But as the festival season concludes, the next key focus will be the wedding season, another period traditionally marked by high gold demand among Indians.

Gold Rates In Other Major Cities In India:

Cities	24 carat	22 carat
Delhi	₹ 80,550	₹ 73,800
Mumbai	₹ 80,400	₹ 73,400
Bangalore	₹ 80,400	₹ 73,400
Kolkata	₹ 80,400	₹ 73,400

Silver Prices In Chennai On 4th November

Silver rates in Chennai also held steady today, with the rate for the white metal remaining at Rs. 1,06,000 per kilogram. For 100 grams, silver was also stable at Rs. 10,600. On the Multi Commodity Exchange (MCX) Gold futures for December 5th delivery closed at Rs. 78,435 per 10 grams recording a drop of 0.55%. Similarly, silver futures, for December 5th expiry, Declined by 0.82 % trading at Rs 94,697 per kg

Spot Gold And Silver Rates

According to recent Reuters reports, spot gold prices experienced a modest increase of 0.1% as of 2:27 AM GMT, settling at $2,738.32 per ounce. This comes after the precious metal reached a historic high of $2,790.15 last week. U.S. gold futures remained relatively unchanged, trading at $2,747.80. In contrast, spot silver prices rose by 0.3% to $32.51 per ounce, rebounding from a recent low point.