Gold and silver rates today, November 04
The 24-carat gold rate in India was Rs 78,890 per 10 grams on November 04. The rate for 24-carat gold per gram is Rs 7,889. The rate of 22-carat gold was Rs 72,316 per 10 grams.
The rate of 24-carat gold has risen by 0.35% in the last one week, and the yellow metal has gained by 0.03% in the last ten days. The silver is currently quoted at Rs 95,710 per kilogram.
Experts on Gold & Silver Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold prices witnessed slight profit-taking as traders preferred to secure gains from recent rallies ahead of Friday’s key events—the Non-Farm Payroll (NFP) and unemployment reports.
Trivedi also added that currently trading around Rs 79,400 in MCX, gold faces resistance at Rs 79,600, while Comex shows a hurdle near $2,790. The upcoming U.S. election next week is expected to be a decisive factor for gold’s trend, with market participants closely watching its outcome for further direction.
Why is gold a safe haven investment?
Gold is widely regarded as a safe-haven investment, providing protection against monetary expansion and helping to preserve currency value. As central banks increase the money supply, gold acts as a hedge against potential currency devaluation, making it a reliable asset in uncertain economic conditions.
Its resilience against inflation further enhances its appeal. As the cost of living rises, gold’s value often increases, shielding investors from inflationary pressures. During economic downturns, gold typically outperforms other assets, helping to protect portfolios from devaluation and offering a buffer against financial instability.
Gold rate in Mumbai on November 04
The glittering metal was quoted for a price of Rs 78,890/10 grams in Mumbai on November 04. On November 01, the price of gold was Rs 78,870/10 grams. Seven days back, on October 28, gold was trading for Rs 78,610/10 grams.
Silver rate in Mumbai on November 04
The shining metal silver was selling for a rate of Rs 95,590/Kg on November 04 in Mumbai. Whereas on November 01, the metal was priced at Rs 95,580/Kg and a week ago the price was Rs 97,480/Kg.
Gold rate in Kolkata on November 04
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 78,780/10 grams, today, November 04. The glittering metal was selling for Rs 78,770/10 grams on November 01 and was quoting for Rs 78,500/10 grams last week.
Silver rate in Kolkata on November 04
The silver rate in Kolkata today was Rs 95,460/Kg. The price of silver was Rs 95,450/Kg on November 01. Last week, the price was trading at Rs 97,350/Kg.
Gold rate in Delhi on November 04
On November 04, the gold was trading at a price of Rs 78,750/10 grams. The gold was quoted at Rs 78,740/10 grams on Monday, November 01. While the price of the 999 gold was selling for a price of Rs 78,470/10 grams a week ago.
Silver rate in Delhi on November 04
In Delhi, the silver was priced at Rs 95,430/Kg on November 04. The price of silver was Rs 95,410/Kg on November 01. The price of silver was quoted at Rs 97,310/Kg last week.
Gold rate in Chennai on November 04
The gold rate in Chennai was Rs 79,120/10 grams today, November 04. On Monday 01-11-2024 the gold rate was quoted at Rs 79,100/10 grams. On October 28 or a week ago, the price of gold was Rs 78,380/10 grams in Chennai.
Silver rate in Chennai on November 04
The silver rate in Chennai today, November 04, is Rs 95,870/Kg. On November 01, the price of silver at Rs 95,850/Kg. The silver in Chennai was available to the customers for a price of Rs 97,760/Kg a week ago.
MCX Futures on November 04
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 78,778 per 10 gm, an increase of Rs 348. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 95,460 per kg, gain of Rs 829.