Gold, silver prices today, 11 Nov Wednesday: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai, Kolkata
Gold and silver prices rose in international markets on Wednesday, 11 November, after US inflation data came in higher than expected on Tuesday.
At 9:28 am, spot gold was trading at around $4,045.568 per troy ounce, up 0.34%, according to TradingView data. Spot silver was trading at $52.378 per troy ounce, gaining $0.872 or 1.69%.
In the domestic market, gold prices rose to ₹1,42,010 per 10 grams, up ₹820 or 0.58%, while silver prices climbed to ₹1,86,660 per kg, gaining ₹3570 or 1.95%, according to Bullions.co.in.
On the Multi Commodity Exchange (MCX), gold futures are trading at ₹1,41,470, up ₹945 or 0.67%. Silver futures gained ₹3,369 or 1.85% to trade at ₹1,85,945. The rise in domestic bullion prices comes after the five-day festive period, which is set to conclude with Bhai Dooj today.
Gold and silver prices today in India
Gold is sold in different purity levels in the retail market. While 24-karat gold is the purest form, 22-karat gold is widely used for jewellery making because of its greater durability.
Here’s a look at the latest gold prices in major Indian cities on 11 November:
Gold Prices in New Delhi — 11 November
24 karat gold rate in New Delhi — ₹141,460/10 gm
22 karat gold rate in New Delhi — ₹129,672/10 gm
Silver 999 Fine rate in New Delhi — ₹186,250/1 kg
Gold Prices in Mumbai — 11 November
24 karat gold rate in Mumbai — ₹141,560/10 gm
22 karat gold rate in Mumbai — ₹129,763/10 gm
Silver 999 Fine rate in Mumbai — ₹186,370/1 kg
Gold Prices in Bengaluru — 11 November
24 karat gold rate in Bengaluru — ₹141,810/10 gm
22 karat gold rate in Bengaluru — ₹129,993/10 gm
Silver 999 Fine rate in Bengaluru — ₹186,570/1 kg
Gold Prices in Kolkata — 11 November
24 karat gold rate in Kolkata — ₹141,370/10 gm
22 karat gold rate in Kolkata — ₹129,589/10 gm
Silver 999 Fine rate in Kolkata — ₹186,120/1 kg
Gold Prices in Hyderabad — 11 November
24 karat gold rate in Hyderabad — ₹141,790/10 gm
22 karat gold rate in Hyderabad — ₹129,974/10 gm
Silver 999 Fine rate in Hyderabad — ₹186,670/1 kg
Gold Prices in Chennai — 11 November
24 karat gold rate in Chennai — ₹141,970/10 gm
22 karat gold rate in Chennai — ₹130,139/10 gm
Silver 999 Fine rate in Chennai — ₹186,910/1 kg
How did US inflation data impact gold prices and what lies ahead?
Manav Modi, Commodities Analyst at Motilal Oswal Financial Services, said gold prices came under renewed pressure in yesterday’s session, reversing earlier stability, as inflation data and hawkish Federal Reserve commentary lifted the dollar and strengthened expectations of further monetary tightening.
October headline CPI rose 0.4% month-on-month, above the 0.3% estimate, while core CPI increased 0.3%, also exceeding expectations. This also followed last week’s stronger-than-expected U.S. payrolls report. The absence of year-on-year figures, owing to the government shutdown, limited the completeness of the inflation assessment; nevertheless, the data reinforced concerns that price pressures remain persistent.
“Fed Governor Christopher Waller’s comments added to the bearish tone, with markets assigning a nearly 10% probability to a 50-bps rate hike in December. Meanwhile, retreating crude prices offered some support, with Brent briefly slipping below $90/barrel on optimism around a possible U.S.-Iran agreement, easing near-term energy-inflation concerns,” Modi said.
However, attacks on Saudi energy infrastructure capped oil’s decline. Markets will continue to track Fed commentary, inflation trends and geopolitical developments for direction, he added.
Disclaimer: Gold and silver prices may vary across jewellers and locations. This is for informational purposes only.
