Today Gold Silver Price on 16 November 2023: Price of Gold Increased; Price of Silver Decreased on MCX (Multi Commodity Exchange)

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Today’s gold price, November 16, 2023: Gold is priced higher, but the rates for silver have dropped on the Multi Commodity Exchange (MCX) today. You can find the latest prices for different cities here.

Gold prices are up on the Multi-Commodity Exchange (MCX) in India. On the other hand, silver prices went down on Thursday, November 16.

Gold futures for December 5, 2023, are priced at Rs 60,187 per 10 grams, showing a small increase of Rs 71, or 0.12%. The previous closing price was Rs. 60,111.

Silver futures are expected to decline on December 5, 2023. The price dropped by Rs 32 or 0.04% and is now at Rs 72,396 per kg on the MCX, compared to the previous closing price of Rs 72,372.

Gold and silver prices in big cities

CITYGOLD (per 10 grams, 22 carats)SILVER (per kg)
NEW DELHIRs 56,100Rs 75,000
MUMBAIRs 55,950Rs 75,000
KOLKATARs 55,950Rs 75,000
CHENNAIRs 56,350Rs 78,000

The price of gold differs across regions in the country depending on factors like excise duty, making charges, and state taxes.

Gold and silver prices in the global market

Gold prices went up slightly on Thursday because people think the Federal Reserve is done raising interest rates. But the value of the US dollar went up too, so the price of gold didn’t go up much. This was reported by Reuters news agency.

The most recent report on metal prices shows that the price of spot gold increased by 0.1% to $1,961.81 per ounce at 0315 GMT. Meanwhile, the price of gold futures in the US remained unchanged at $1,964.60.

Gold’s price has become less unstable after the US inflation report. It is currently stable at around $1,960, even though the US dollar is trying to recover from its previous decline. Matt Simpson, a senior analyst at City Index, mentioned this.

Silver prices dropped by 0.4% to $23.36 per ounce, alongside other valuable metals.

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