Gold and silver rates today, November 22
The 24-carat gold rate in India was Rs 76,970 per 10 grams on November 22. The rate for 24-carat gold per gram is Rs 7,697. The rate of 22-carat gold was Rs 70,556 per 10 grams.
The rate of 24-carat gold has risen by 3.67% in the last one week, and the yellow metal has gained by 2.5% in the last ten days. The silver is currently quoted at Rs 90,190 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 surged higher as geopolitical tensions reignited safe-haven demand, with renewed concerns over nuclear risks in the Russia-Ukraine conflict. Reports of escalating tensions and global unease drove gold prices up by $18 on Comex, reaching $2,670, and by Rs 550 higher at Rs 76600 on MCX. The uncertainty surrounding the situation continues to support a bullish bias for gold.
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Trivedi also added Technically, gold faces significant resistance on Comex near $2,675–2,690, with key support at $2,600–2,610. In MCX, Rs 75,000–Rs 75,200 serves as strong support, while resistance levels are pegged at Rs 77,100–Rs 77,300. Elevated volatility is expected in the short term due to geopolitical developments.
Why is gold a safe haven investment?
Gold is considered a safe-haven investment, offering protection against monetary expansion and helping preserve currency value. As central banks raise the money supply, gold serves as a hedge against currency devaluation, making it a stable asset during economic uncertainty.
Its resilience to inflation also adds to its appeal, as gold’s value often rises alongside living costs,
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