Gold Price In India Today, Nov-29: 24 Carat/100 Grams Gold Jumps Rs 7,600; 1kg Silver Rally Rs 2,000

Indian gold prices saw an enormous spike on Friday, November 29, amid fresh geopolitical tensions between Russia and Ukraine that continue to encourage safe-haven buying. Investors focused on safe-haven assets amid the geopolitical uncertainty, which was bolstered by slower U.S. inflation figures. Gold prices are predicted to be erratic as investors continue to evaluate the latest economic data for clues on the Fed's policy direction in the face of heightened expectations of a rate cut by the Fed in December and Russia's unveiled second major strike on Ukraine's energy infrastructure.

Gold Rates In India Today

Today, 22 carat gold costs Rs 7,160 per gramme in India, whereas 24 carat gold costs Rs 7,811 per gramme. The price of 22k of 10 grams of gold in India climbed by Rs 670 to Rs 71,600 on Friday from Rs 70,930 on Thursday. Meanwhile, the price of 22k of 100 grams of gold in India jumped by Rs 6,700 to Rs 7,16,000 today from Rs 7,09,300 yesterday.

In India, the price of 24k of 10 grams of gold went up to Rs 78,110 on Friday from Rs 77,350 on Thursday, a rise of Rs 760. In contrast, the price of 24k of 100 grams of gold surged to Rs 7,81,100 today from Rs 7,73,500 yesterday, a price increase of Rs 7,600 in a single day.

The price of 18k of 10 grams of gold in India jumped to Rs 58,580 today from Rs 58,010 yesterday, marking a price increase of Rs 570. Meanwhile, the price of 18k of 100 grams of gold in India was Rs 5,85,800 on Friday, up from Rs 5,80,100 on Thursday, marking a price gain of Rs 5,700.

Spot Gold Today

Due to rising geopolitical tension and a slight drop in the US dollar, gold prices increased on Friday. As of 0236 GMT, spot gold was up 0.7% to $2,660.03 per ounce. According to Reuters, U.S. gold futures climbed 0.8% to $2,659.70 this week, while bullion has lost 2% so far. Palladium rose 0.9% to $984.25, platinum jumped 0.9% to $939.75, while spot silver climbed 1.1% to $30.58 an ounce.

Silver Rates In India Today

Silver prices saw an impressive rise in India Friday, November 29, as investors considered the prospects for a rate cut by the Federal Reserve and the escalating tensions in Ukraine. On Friday, 10 grams of silver would cost Rs 915, compared to Rs 895 on Thursday. The price of one kilogramme of silver in India today would cost Rs 91,500, up by Rs 2,000 from yesterday's price of Rs 89,500, while the price of 100 grams of silver today jumped to Rs 9,150 from Rs 8,950 on Thursday, marking a 200 rupee increase.

MCX Gold Outlook Today

"Gold erased its early pullback and rose past the $2,645 per ounce mark on a Thursday of thinner trading due to US holiday, extending the rebound from Monday's plunge for a third straight session as investors continued to assess the latest economic data for hints on the Fed's policy path The domestic yellow metal MCX Gold (Feb 2025 Contract closed flat . 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 74500 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 Limited.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading higher today on the international bourses. We expect gold and silver prices to trade range-bound to marginally higher for the day; as gold prices are steady amid thin trading due to the Thanksgiving holiday in the US, with investors weighing the outlook for Federal Reserve rate cuts and rising tensions in Ukraine," said Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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