Gold and Silver Prices on 14 November 2023: The price of high-quality gold dropped by Rs 100 on Tuesday morning, as mentioned on the GoodReturns website. This change means that ten grams of gold are now worth Rs 60,490. Similarly, the price of silver also decreased by Rs 600, with one kilogram of silver now valued at Rs 72,400.
The price of high-quality gold has dropped, which is important news for the market. In Mumbai, Kolkata, and Hyderabad, ten grams of this gold cost Rs 60,490, but in Delhi, Bengaluru, and Chennai, the prices are Rs 60,640, Rs 60,490, and Rs 60,980, respectively. This difference in prices between cities makes the market dynamics interesting.
The price of 22-carat gold has decreased by Rs 90, and it is now priced at Rs 55,450. In Mumbai, Kolkata, and Hyderabad, the price of 24-carat gold is also Rs 55,450. However, in Delhi, Bengaluru, and Chennai, the prices for ten grams of 22-carat gold are Rs 55,600, Rs 55,450, and Rs 55,900, respectively.
What affects the price of gold?
Investors and enthusiasts need to understand why prices for gold are changing. Factors such as global economic conditions, geopolitical events, and market sentiments always make a difference. Right now, things are even more complicated because investors are being careful. For example, the price of gold in the United States is staying within a small range. This is happening because investors are waiting and watching, wanting to see what happens with U.S. inflation data. This data will give information about whether the Federal Reserve will decide to raise interest rates. That decision could affect the price of gold.
Current Global Gold Trends
US Gold Prices
US gold prices are staying the same at $1,945.45 per ounce. Gold futures have slightly decreased to $1,949.50 per ounce. This stability is because investors are being careful until the U.S. inflation data is released.
Other Precious Metals
Gold is stable, but other precious metals have different changes. Silver went up a little by 0.2% to $22.34 per ounce. Platinum rose by 0.4% and is now worth $867.52. Palladium increased by 0.7% and reached $988.43 per ounce.
Silver Market Insights
In Delhi and Mumbai, the price of one kilogram of silver is Rs 72,400, while in Chennai, it’s a little higher at Rs 75,400. These differences in prices between regions show that the silver market can vary.
The recent changes in gold and silver prices show how market factors interact. The similar gold prices in major Indian cities and the careful attitude of global investors affect the current situation. As we wait for the U.S. inflation data, the market is tense, and investors need to pay attention to these changing trends to make informed decisions.
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