Gold Rate in India Takes a Breather! Will 18K Cross Rs 1 Lakh Mark? 15 Nov Outlook

Gold Rate in India: The price of gold in India corrected on Friday after witnessing a significant jump over the past few days. Whereas silver prices continued their upward trend. The recent domestic gold price movement has come as the international prices dipped below $4,100 per ounce.

The recent volatility in gold prices has come as investors remained cautious over economic uncertainty, geopolitical tensions, and trade conflicts. Back in India, gold remains more than an investment tool but also carries emotional value. For those who are planning to buy gol in India, they will closely track gold price movement on Saturday, November 15.

Gold Rate in India

The price of 24 karat gold in India stood at Rs 12,704 per gram on Friday, November 14. Whereas, the rate of 22 karat gold in India cooled to Rs 11,645 per gram. The rate of 18 karat gold in India remained at Rs 9,528 per gram.

Silver Rate in India

Silver rate in India increased to Rs 173.2 per gram and to Rs 1,73,200 per kilogram. Silver rate in India has increased significantly since the beginning of the year due to its strong industrial demand and supply side bottlenecks.

Gold, Silver Price Outlook

Gold prices are likel to remain stable on Saturday as most of the commodity exchanges will remain shut on weekend. In the long run gold prices may continue to move upwards because of uncertainty around US economic situation and due to geopolitical tensions. "Recent global cues have firmed safe-haven demand, and jewellery demand in the domestic market is providing additional momentum. In summary, the price of gold is rising and shows signs of sustaining this heightened level in the short term," stated Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Silver prices may also remain elevated as its domestic demand may remain strong due to the ongoing wedding season. "As we enter the wedding season, silver is similarly seeing an increase in activity. It is observed that safe‐haven flows are boosting investor demand, but jewellery and gifting demand in India is also rising in volume. Silver price trends show that prices are rising, and the outlook remains generally constructive," added Kamboj.

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