Image Source : FILE Gold prices in India.
Gold prices on November 25: Gold prices have surged around Rs 80,000 per 10 grams in major Indian cities, recovering from the pressures of Donald Trump’s anticipated high tariff trade policies and a strong US dollar, according to analysts. On November 25, gold prices in India remained strong, with 24-carat gold, known for its exceptional purity, priced at Rs 79,630 per 10 grams. Meanwhile, 22-carat gold, often used in jewellery for its durability, was available at Rs 72,990 per 10 grams.
The prevailing uncertainty surrounding the US economy and volatile stock markets have also driven increased inflows into gold, viewed as a safe-haven asset. However, analysts caution that the US Federal Reserve’s cautious stance on interest rates and the strong US dollar are presenting challenges for the bullion market. In spot markets, the precious metal of 99.9 per cent purity surged Rs 1,100 to hit a two-week high of Rs 80,400 per 10 grams, while the price of gold of 99.5 per cent purity soared Rs 1,100, to reclaim the Rs 80,000 mark again on Friday.
The ongoing wedding season in India is also pushing gold buying interest by jewellers and retailers, analysts said. “Wedding season is pivotal for our business, with bridal or wedding jewellery constituting a significant share of our sales. During the ongoing wedding season this year, we are witnessing healthy demand for bridal jewellery across all our stores in India,” M P Ahammed, Chairman at Malabar Group, said, as per news agency PTI.
Check gold prices in different cities on November 25, 2024
City
22 Carat Gold Rate (Per 10 gm)
24 Carat Gold Rate (Per 10 gm)
Delhi
Rs 73,140
Rs 73,140
Mumbai
Rs 72,990
Rs 79,630
Kolkata
Rs 72,990
Rs 79,630
Chennai
Rs 72,990
Rs 79,630
Ahmedabad
Rs 73,040
Rs 79,680
Pune
Rs 72,990
Rs 79,630
Lucknow
Rs 73,140
Rs 79,780
Bengaluru
Rs 72,990
Rs 79,630
Patna
Rs 73,040
Rs 79,680
Hyderabad
Rs 72,990
Rs 79,630
Why does the price of gold fluctuate?
The price of gold fluctuates due to a variety of factors, including insights from esteemed jewellers. Key influences include global demand for gold, exchange rate fluctuations, prevailing interest rates, and government regulations governing gold trading. Additionally, international events such as the overall state of the global economy and the strength of the US dollar relative to other currencies significantly affect gold prices in the Indian market.
