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Indian Gold Prices Fell By Rs. 360, On Nov 15
Gold rates in India fell by Rs. 360/10 grams today, on November 15, after rising 5 days in a row. Today in India, 22 carat gold rates are quoted at Rs. 47,930/10 grams and 24 carat gold rates are quoted at Rs. 48,930/10 grams. However, in Delhi and Ahmedabad gold rates have gained by Rs. 200-300 / 10 grams today.
The Comex gold December futures fell by 0.13% and was quoted at $1866/oz, while the spot gold prices hiked by 0.17%, and were quoted at $1866.40/oz till last traded. Yesterday Comex December gold futures closed at $1868/oz. On the other hand, the US dollar index in the spot market stood at 95.08, dropping by 0.06%. Mirroring the same global gold rate trend, in India, the Mumbai MCX gold in October future also gained by 0.15%, and was quoted at Rs. 49,388/10 grams, till last traded.
Gold rates in different Indian cities are quoted differently, daily. Today's gold rates in major Indian cities follow:
| City | 22 carat (INR/10 Grams) | 24 carat (INR/10 Grams) |
|---|---|---|
| Mumbai | 47,930/- | 48,930/- |
| Delhi | 48,250/- | 52,620/- |
| Bangalore | 45,900/- | 50,070/- |
| Hyderabad | 45,900/- | 50,070/- |
| Chennai | 46,310/- | 50,520/- |
| Kerala | 45,900/- | 50,070/- |
| Kolkata | 48,700/- | 51,400/- |
Gold prices are trading in a comparatively moderate range now, as the New York Federal Reserve has reported data about the regional manufacturing sector. The sector performed better than expected. On Monday, the regional central bank officially announced that its Empire State manufacturing survey's general business conditions index hiked higher to 30.9 in November.
This recently announced data is significantly higher than October's data of 19.8. however, the consensus forecast was at around 22.1. Hence, the gold market internationally is trading at a moderate level than last one week, after this positive economic data. Earlier, after USA's inflation rate announcement at 6.2%, gold rates jumped significantly soon, breached $1871/oz level.
