Gold Price Today, Nov 15: Sharp Jump In Yellow Metal, Silver Prices

Gold prices in India today witnessed a rally after the dollar and Treasury yields retreated after softer-than-expected U.S. consumer inflation data fuelled bets that the Federal Reserve may be done hiking interest rates, according to a Reuters report. Silver prices too saw a sharp surge today after the rise by Rs 1700 in a single day to Rs 74,700 per kg on Wednesday.

Current price of 22 carat of 10 grams gold in India is Rs 55,950 after prices soared by Rs 400. Price of 24 carat of 10 grams yellow metal is Rs 61,040 on November 15. Cost of 100 grams of 22 carat gold in India is Rs 5,59,500 and price of 100 grams of 24 carat gold in India is Rs 6,10,400 today.

Prices of yellow metal in different metropolitan cities:

Gold Prices Chennai Today: The price of 22 carat of 10 grams yellow metal in Chennai is Rs 56,450 and cost of 24 carat of 10 grams gold is Rs 61,580.

Delhi Gold Price Today: Cost of 22 carat of 10 grams gold in Delhi is Rs 56,100 and price of 10 grams of 24 carat gold in Delhi is Rs 61,190.

Mumbai Gold Price Today: Price of 22 carat of 10 grams gold in Mumbai is Rs 55,950 and price of 10 grams of 24 carat gold in Mumbai is Rs 61,040.

Kolkata Gold Price Today: Price of 22 carat of 10 grams gold in Kolkata is Rs 55,950 and price of 10 grams of 24 carat gold in Kolkata is Rs 61,040.

Commenting on the price rally in gold prices today, Anuj Gupta, Head - Commodity & Currency at HDFC Securities said, "Overall outlook for gold is positive as US dollar rate has fallen against major global currencies. The US dollar index has come close to 104 levels after US consumer prices index (CPI) data showed that underlying inflation slowed in October, increasing the odds that the Federal Reserve is done hiking interest rates."

Meanwhile, Amit Sajeja, Vice President - Research at Motilal Oswal said, "Israel-Hamas war is still there and it is expected to put breaks on any big dip in the yellow metal price. Immediate support for spot gold price today is around $1,935 per ounce levels whereas MCX gold rate today has immediate support placed at Rs 58,300 levels. On higher side, gold price today has major hurdle placed at $1,980 levels whereas MCX gold rate today is facing resistance at Rs 60,300 per 10 gm levels."