Gold and silver rates today, November 05
The 24-carat gold rate in India was Rs 78,510 per 10 grams on November 05. The rate for 24-carat gold per gram is Rs 7,851. The rate of 22-carat gold was Rs 71,968 per 10 grams.
The rate of 24-carat gold has fallen by 0.77% in the last one week, and the yellow metal has gained by 0.15% 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 experienced volatility as Comex gold found support near $2,730 but struggled to break above $2,750. With the U.S. election results due in the next two days, market participants are expected to have mixed sentiments, likely resulting in a range-bound session between Rs 78,000 and Rs 79,000 in MCX
Trivedi also added that Once the election outcome is announced, gold could see a decisive move of around Rs 1,000-Rs 1,500 in the coming days. Key support levels lie between Rs 78,000- Rs 77,800, while resistance is positioned at Rs 79,000-Rs 79,175.
Why is gold a safe haven investment?
Gold is widely seen as a safe-haven investment, offering protection against monetary expansion and helping to preserve currency value. As central banks expand the money supply, gold serves as a hedge against potential currency devaluation, making it a reliable asset in uncertain economic climates.
Its resilience to inflation adds to its appeal. As living costs rise, gold’s value often follows suit, shielding investors from inflationary pressures. In economic downturns, gold typically outperforms other assets, helping protect portfolios from devaluation and providing a buffer against financial instability.
Gold rate in Mumbai on November 05
The glittering metal was quoted for a price of Rs 78,510/10 grams in Mumbai on November 05. On November 04, the price of gold was Rs 78,890/10 grams. Seven days back, on October 29, gold was trading for Rs 79,340/10 grams.
Silver rate in Mumbai on November 05
The shining metal silver was selling for a rate of Rs 94,360/Kg on November 05 in Mumbai. Whereas on November 04, the metal was priced at Rs 95,590/Kg and a week ago the price was Rs 98,860/Kg.
Gold rate in Kolkata on November 05
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 78,410/10 grams, today, November 05. The glittering metal was selling for Rs 78,780/10 grams on November 04 and was quoting for Rs 79,240/10 grams last week.
Silver rate in Kolkata on November 05
The silver rate in Kolkata today was Rs 94,240/Kg. The price of silver was Rs 95,460/Kg on November 04. Last week, the price was trading at Rs 98,730/Kg.
Gold rate in Delhi on November 05
On November 05, the gold was trading at a price of Rs 78,380/10 grams. The gold was quoted at Rs 78,750/10 grams on Tuesday, November 04.
While the price of the 999 gold was selling for a price of Rs 79,210/10 grams a week ago.
Silver rate in Delhi on November 05
In Delhi, the silver was priced at Rs 94,200/Kg on November 05. The price of silver was Rs 95,430/Kg on November 04. The price of silver was quoted at Rs 98,690/Kg last week.
Gold rate in Chennai on November 05
The gold rate in Chennai was Rs 78,740/10 grams today, November 05. On Monday day 04-11-2024 the gold rate was quoted at Rs 79,120/10 grams. On October 29 or a week ago, the price of gold was Rs 79,580/10 grams in Chennai.
Silver rate in Chennai on November 05
The silver rate in Chennai today, November 05, is Rs 94,640/Kg. On November 04, the price of silver at Rs 95,870/Kg. The silver in Chennai was available to the customers for a price of Rs 99,150/Kg a week ago.
MCX Futures on November 05
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 78,400 per 10 gm, a drop of Rs 467. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 94,226 per kg, fall of Rs 1257.