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Indian Gold Rates Fell By Rs. 370, On Nov 18, Mirroring International Trend
Indian Gold prices have fallen by Rs. 370/10 grams today, on November 18. Today in India, 22 carat gold rates are quoted at Rs. 48,100/10 grams and 24 carat gold rates are quoted at Rs. 49,100/10 grams. However, in major cities like Delhi and Kolkata, gold rates have fallen by Rs. 200-450/10 grams today.
The Comex gold December futures fell by 0.33% and were quoted at $1864/oz, while the spot gold prices fell by 0.25%, and were quoted at $1863.7/oz till last traded. Yesterday Comex December gold futures closed at $1870/oz, hence today the global gold rate trend is heading north. On the other hand, the US dollar index in the spot market stood at 95.66, dropping by 0.16%. Mirroring the same global gold rate trend, in India, the Mumbai MCX gold in October future also fell marginally, 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 | 48,100/- | 49,100/- |
| Delhi | 48,050/- | 52,420/- |
| Bangalore | 46,000/- | 50,180/- |
| Hyderabad | 46,000/- | 50,180/- |
| Chennai | 46,340/- | 50,180/- |
| Kerala | 46,000/- | 50,180/- |
| Kolkata | 48,300/- | 51,000/- |
Today in major markets risk sentiments were mostly negative. Hence, the asset markets performed marginally lower than yesterday. Speaking of gold, the rates in the international markets and Indian markets are heading north in this month, November. Mostly inflation concerns are rising gold rates.
However, today gold rates in Indian markets have eased to some extent, in line with global trends. Chicago Federal Reserve Bank President Charles Evans has stated that they are quite focussed on inflation rates and he is looking for inflationary pressure to fall.
