Gold Rate In India See-Saw At Rs 1.25 Lakh, Silver Slides; THESE Signals To Define Next Rally |18 Nov Outlook

Gold Rate In India: The prices of gold in India continue to hover near Rs 1.2 lakh per 10 gram over the past few days as investors track US Federal Reserve rate cut cues, potential trade tariff shifts, and geopolitical tensions. Silver rate in India saw mild decline in the beginning of this week. With crucial US economic data still awaited, market participants will be closely tracking how gold and silver prices will move on Tuesday, November 18.

Gold prices in India are closely tracked by investors as well as retail jewellery buyers. As the ongoing wedding season must have increased the demand for gold in the coming days, here is a quick recap of gold rate in India as per GoodReturns data.

Gold Rate in India

The prices of 24 karat gold in India see-sawed near the Rs 1.25 lakh mark. The first half of the day saw a sharp decline in gold prices near Rs 1.23 lakh, but the prices recovered. The 24 karat gold rate in India was priced at Rs 12,540 per gram on Monday, November 17. Which means that per 10 gram of gold costed around Rs 1,25,400 per 10 grams. The price of 22 karat gold in India increased by Rs 32 per gram to Rs 12,540 per gram. Likewise, the rate of 18 karat gold in India jumped by Rs 24 per gram to Rs 9,405 per gram.

Silver Rate in India

The price of silver in India saw marginal decline on Monday. Silver rate in India declined to Rs 167 per gram and to Rs 1,67,000 per kilogram. Silver prices are closely tracked by investors who are willing to invest in precious metals other than gold. The white metal saw a steep jump in its valuation since the beginning of the year due to its strong industrial demand and supply side bottlenecks.

Gold, Silver MCX

Gold futures with December expiry closed at Rs 1,23,561 per 10 gram on Monday. Whereas, silver futures with December expiry ended the trading session at Rs 1,56,018 per kilogram. The international gold prices stood at $4,080 per ounce, as per Trading Economics.

Gold Price Outlook: 3 Key Factors To Define Next Gold Rally

While gold prices are steady near Rs 1.25 lakh mark, the yellow metal jumped significantly above rs 1.3 lakh (per 10 grams for 24K) mark in October. The decline has come amid uncertainty around US Federal Reserve outlook and geopolitical tensions, and a host of factors can influence the gold price rally, highlighted Justin Khoo, Senior Market Analyst - APAC, VT Markets.

Expectations around US interest rates (in December), fresh global economic and geopolitical uncertainties like Russia-Ukraine war, Israe-Gaza conflict, etc, and strategic tensions among major economies can define the gold price movement in coming days.

Gold, Silver Price Outlook

Gold prices are likely to remain volatile on Tuesday, November 18. There are chances of some surge in gold rates ahead of US economic data release. However, in the long-term, gold will continue to remain in demand.

"Gold continues to enjoy safe-haven demand, particularly with fresh global economic and geopolitical uncertainties, led by the legacy of the Russia-Ukraine War and strategic tensions among major economies. Experts reckon the next leg for gold-whether higher or further correction-will depend on incoming U.S. data. Investors are advised to stay cautious yet opportunistic, buying on select moderate dips rather than trying to chase a peak," explained Khoo.

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