Massive Surge In Gold Rates Today Nov 22; Check 24k,22k,18k Gold Prices in Banglore, Chennai & Hyderabad

Gold prices in major South Indian cities including Bengaluru, Chennai, and Hyderabad underwent a sharp rise this morning. The sudden jump comes after two consecutive days of price decline, which prompted buyers to rush to jewellery stores during the ongoing wedding season in India. Investors are also taking advantage of the buy-on-dips strategy, hoping to maximise returns as gold rates in India recover.

On the global level, gold rates remain steady as markets await the US Federal Reserve's interest rate decision in the December meeting, which is expected to directly influence international bullion prices.

Gold Rate in Bangalore Today

On November 22nd the 24-carat gold rate in Bangalore spiked by Rs. 1860 per 10 grams to cost Rs. 1,25,840 per 10 grams. While the 22 carat gold prices in Bangalore today jumped by Rs. 1700 and are currently retailing at Rs. 1,15,350 per 10 grams. Similarly, the 18-carat gold rate today also surged by Rs. 1390 per 10 grams to cost Rs 94,380.

Gold rate in Chennai today

The 22-carat gold rate in Chennai surged by Rs. 1860 per 10 grams, bringing the price higher to Rs. 1,26,880 per 10 grams. Meanwhile, the 24-carat gold price in Bangalore jumped by Rs. 1700 now retailing at Rs. 1,16,300 per 10 grams. The 18-carat gold also saw a Spike of Rs.1400 per 10 grams, currently priced at Rs. 97,000.

Gold rate in Hyderabad today

On November 22nd, gold prices in Hyderabad also soared across all purity levels. The 22-carat gold rate in Hyderabad surged by Rs. 1700 per 10 grams, now priced at Rs. 1,15,350 per 10 grams. Meanwhile, the 24 carat gold price in Hyderabad today surged Rs. 1860 , bringing the rate to Rs. 1,25,840 per 10 grams. Even the 18-carat gold rate in Hyderabad saw a rise of Rs. 1390, currently retailing at Rs. 94,380 per 10 grams.

Gold Target Price Ahead

"Gold prices are expected to correct. One can sell at 123200 with a stop loss of 123800. Prices are expected to test 122200-120800." as per the Nirmal Bang Securities report dated Nov 21.

MCX Gold and Silver Futures Price

Trading on the MCX closed today so on the previous day gold futures slated to mature on December 5 ended at Rs.1,24,195. Similarly, silver futures, which are set to expire on December 5th dropped by 0.06% to settle at Rs 1,54,052.

Silver Prices in Chennai Today

Silver prices in Chennai today jumped after two consecutive drops, as 1 kg of silver in Chennai costs Rs 1,72,000 after rising by Rs. 3000. While 100 g of silver rates in India currently cost Rs 17,200

Silver Prices in Bangalore Today

Similarly, Bangalore silver prices today also surged. On November 22nd, 1 kg of silver in Bangalore cost Rs. 1,64,000 which jumped by Rs. 3000. While 100 g of silver rates in India cost Rs 16,400.

Silver Prices in Hyderabad Today

The silver rate in Hyderabad today spiked by Rs. 3000/Kg, as of Nov 22nd, 1 kg of silver priced in Hyderabad retails at Rs. 1,72,000. While 100 g of silver rates in India cost Rs 17,200.

Spot Gold Prices + Spot Silver Price Today

Spot gold on Friday ended above $4000 per ounce . As per the latest Reuters commodity report, "Spot gold was steady at $4,086.57 per ounce, as of 01:48 p.m. ET (18:48 GMT), after falling more than 1% earlier in the session. Bullion is set for a weekly gain of 0.1% so far."

"Spot Gold is likely to trade with a negative bias and slip towards $4000 level on a strong dollar. Further, prices may slip as release of delayed job report from U.S painted mixed picture of labor market conditions, reinforcing expectation that US Fed may hold off on cutting rates at its upcoming meeting in December. Additionally, Fed officials are signaling caution over further easing, citing worries about inflation. Moreover, job data for October and November will not come before Fed policy meeting, forcing traders to cut bets on interest rate cut next month." According to ICICI Commodity Technical Report.

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