Gold Rates Jumps In India Today: Check Prices For 22K, 24K & 18K; MCX Gold & Spot Gold Outlook Here

Today, Monday, November 3, gold prices in India saw an enormous rise to Rs 12,317 per gramme for 24 carat gold, Rs 11,290 per gramme for 22 carat gold, and Rs 9,238 per gramme for 18 carat gold. Today's spike in gold rates in India came amid a strong dollar and an ease in trade tension. Additionally, bullion prices were influenced by hawkish remarks made by Fed members.

Gold Rates In India Today

Today 24k of 10 grams of gold will cost Rs 1,23,170 in India today which was Rs 1,23,000 yesterday representing a price jump of Rs 170 which means that 24k of 100 grams of gold in India today has become costlier by Rs 1,700 to price at Rs 12,31,700.

The price of 22k of 10 grams of gold in India today is Rs 1,12,900, up Rs 150 from Rs 1,12,750 yesterday. As a result, the price of 22k of 100 grams of gold in India has gone up by Rs 1,500 overnight to Rs 11,29,000.

The price of 18k of 10 grams of gold in India was Rs 92,380 today, up from Rs 92,250 yesterday, indicating a rise in the price of Rs 130. As a result, the price of 18k of 100 grams of gold in India has shot up by Rs 1,300 to reach Rs 9,23,800.

Silver costs Rs 154 per gram and Rs 1,54,000 per kilogram in India today, compared to Rs 152 and Rs 1,52,000 yesterday.

Spot Gold Outlook

"Spot Gold is expected to trade lower amid strong dollar. Furthermore, a recent move from China to abolish tax incentives on gold sales could bring further correction in prices. The new rule applies whether the gold is sold directly or processed into other forms, covering investment products like high-purity bars and coins as well as jewellery and industrial materials," said the technical research analysts of ICICI Direct Research.

"This move will increase the cost of buying gold for Chinese consumers. Meanwhile, a weaker set of economic numbers from the US could limit its downside. Spot gold is likely to remain volatile and move lower towards $3950 as long as it trades under $4060," they further added.

MCX Gold Outlook

"MCX Gold December is expected to slip towards Rs 119,200 level as long as it trades under Rs 122,500 level," commented the technical research analysts of ICICI Direct Research.

MCX Silver Outlook

"MCX Silver Dec is expected to hold the key support at ₹145,000 level and move higher towards ₹149,800 level. A move above ₹149,800, it would open the doors towards ₹151,500," recommended the technical research analysts of ICICI Direct Research.

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