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Gold, silver prices: Gold prices dip to Rs 52,920, silver to Rs 60,600 amid stronger dollar, US bond yields

Gold, silver prices: Gold prices dip to Rs 52,920, silver to Rs 60,600 amid stronger dollar, US bond yields

Gold, silver prices on November 22: The price of 10 grams of 24-carat gold is Rs 52,920 on November 22. The price of 10 grams of 22-carat gold was Rs 48,500 on average.

Gold prices change daily due to currency exchange rates, excise duty, state taxes, and making charges of jewellers, which vary from state to state. Gold prices change daily due to currency exchange rates, excise duty, state taxes, and making charges of jewellers, which vary from state to state.

Gold prices today: Gold prices dipped yet again early on Tuesday to Rs 52,920 in the domestic market mostly due to a stronger dollar and weaker global cues. The silver prices dipped to Rs 60,600. On November 22, Tuesday, the price of 10 grams of 24-carat gold was Rs 52,920. The price of 10 grams of 22-carat gold was Rs 48,500 on average.  

In the international market, gold and silver started off on a better note this month, but fresh hawkish Fed predictions of another round of rate hikes have again affected the prices. US bond yields have risen a bit recently, which is also a negative for safe-haven metals. December gold was last down $13.10 at $1,741.50 and December silver was down $0.347 at $20.655. Spot gold rose 0.3 per cent to $1,743.07 per ounce by 0215 GMT. US gold futures gained 0.3 per cent to $1,744.50. 

“COMEX Gold trades near $1745 a 0.30 per cent rise in today’s early session. Gold has been in a corrective mode for the last three sessions as US Dollar recovered from its lows near 105.34. US Dollar continued to recover as it rose 0.85 per cent on Monday. Gold fell by 0.86 per cent closing a tad below $1740/oz. Mixed statements by Fed official have created ambiguity on Fed’s stance on interest rate decisions and helped dollar recovery. The focus will now shift to flash PMI numbers from US and Europe tomorrow along with the FOMC meeting minutes. On the price front, gold traded as low as $1733/oz on Monday but later recovered closing the day just below $1740.If the price sustains below $1740 then only the correction might deepen or recovery can be seen till $1762/oz. 

Domestic markets 

Gold prices change daily due to currency exchange rates, excise duty, state taxes, and making charges of jewellers, which vary from state to state. On Wednesday, 10 grams of 24-carat gold in Mumbai and Kolkata can be bought and sold at Rs 52,920. In Delhi, the same amount of gold can be bought at Rs 53,070 in New Delhi, whereas in Chennai, one can buy it for Rs 53,670, which is the highest among all metropolitan cities.  

Cities 22-Carat Gold Rates 24-Carat Gold Rates
Chennai  Rs 49,510 Rs 53,670
Mumbai  Rs 48,500 Rs 52,920
Delhi  Rs 48,700 Rs 53,360
Kolkata  Rs 48,500 Rs 52,920
Bangalore  Rs 48,550 Rs 52,970
Hyderabad  Rs 48,500 Rs 52,920

The prices for 22-carat gold in Mumbai, Kolkata, Delhi, and Chennai are Rs 48,500, Rs 48,500, Rs 48,700, and Rs 49,200, respectively.