Gold Rates In India Today, Nov-23: 24K/100 Grams of Gold Price Jumps Rs 8,200; Silver Rates Flat

Gold prices in India rose to Rs 73k today, Saturday, November 23, amid geopolitical tensions fuelled by heightened concerns about nuclear threats in the continuing war between Russia and Ukraine as well as growing global uneasiness. Concerns of a Russian-Ukrainian war intensification caused gold prices to rise amid forecasts of a rate cut in December. Gold prices are predicted to rise in the upcoming days until there is a correction in the dollar bolstered by weak economic data, as rising geopolitical tension between Ukraine and Russia increased demand for the yellow metal in safe havens in addition to dovish remarks from Fed members.

Gold Rates In India Today

In India, the current price of gold is Rs 7,964 per gramme for 24 carat gold and Rs 7,300 per gramme for 22 carat gold. In India, the price of 22k of 10 grams of gold climbed by Rs 750 to Rs 73,000 on Saturday from Rs 72,250 on Friday. In contrast, the price of 22k of 100 grams of gold would cost Rs 7,30,000 today, up by Rs 7,500 from Rs 7,22,500 yesterday.

In India, the price of 24k of 10 grams of gold was Rs 79,640 today, up by Rs 820 from yesterday's price of Rs 78,820. In contrast, 24k of 100 grams of gold would cost Rs 7,96,400 on November 23, up by Rs 8,200 from Rs 7,88,200 on November 22. While 100 grammes of 18k gold in India reached a price level of Rs 5,97,300 today, rising by Rs 6,100 from Rs 5,91,200 yesterday, 10 grammes of 18k gold would cost Rs 59,730 today compared to Rs 59,120 yesterday, suggesting a price surge of Rs 610.

Spot Gold Today

For the first time in more than two weeks, gold prices broke beyond the $2,700 barrier as Spot gold rose 1.5% to $2,709.24 an ounce by 01:51 p.m. ET (1851 GMT), its highest level since November 6. Reuters reports that U.S. gold futures ended the day 1.4% higher at $2,712.20. Palladium dropped 1.4% to $1,015.00, spot silver increased 1.5% to $31.24 per ounce, and platinum increased 0.6% to $964.36.

Silver Rates Today In India

India's silver prices were steady on Saturday, November 23. Silver presently costs Rs 92 per gramme and Rs 92,000 per kilogramme in India. Similar to yesterday, ten grams of silver could run you Rs 920, 100 grams would value Rs 9,200, and one kilogramme would price Rs 92,000.

MCX Gold Outlook

"Gold prices surged significantly as geopolitical tensions fueled safe-haven demand, driven by renewed fears of nuclear risks in the ongoing Russia-Ukraine conflict. Rising global unease pushed gold higher by $38 on Comex, closing at $2,707, and by ₹900 on MCX, reaching ₹77,600. This sharp recovery highlights gold's resilience and its role in balancing portfolios during uncertain times. With gold regaining lost ground, a bullish sentiment remains intact. In the coming week, key global events are expected to influence price trends. For now, gold is likely to trade in a range of ₹77,000-₹78,300 in MCX. Elevated volatility is anticipated," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Gold Price Outlook

"Gold gave back some of the early gains after US jobless claims unexpectedly fell, raising concerns of a slower rate cutting cycle. Traders were seen scaling back expectations for a December rate cut. Forecast showed traders pricing in a 57.3% chance for a 25 basis point cut in Dec, compared to a 85.7% chance seen last week. Bets on a hold rose to 42.7% from 14.3% a week ago," said the research analysts of Motilal Oswal.

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