Gold and silver prices fell sharply as geopolitical tensions in West Asia eased, which didn’t help precious metals to extend the rally. The fall in gold prices can bring some relief to retail buyers after rising continuously last week.
“Gold witnessed a sharp decline of more than Rs 1000 below 76500, as the war premium faded, with no fresh geopolitical escalations over the weekend to sustain the rally. Last week’s strong 5% surge in MCX and Comex prices prompted profit booking, leading to the unwinding of long positions,” said Jateen Trivedi, Vice President and Research Analyst of Commodity and Currency at LKP Securities.
Gold and silver rates today, November 26
The 24-carat gold rate in India was quoted for a price of Rs 75,430 per 10 grams on November 26. The rate for 24-carat gold per gram is Rs 7,543. While the rate of 22-carat gold was Rs 69,144 per 10 grams.
The price of 24-carat gold has fallen by 0.4% in the last week. However, it has risen 1.6% in the last ten days. The silver is available to Indian customers today at a price of Rs 87,930 per kilogram.
“Gold prices witnessed some softness in today’s trade after hitting a 3-week high in the international market. A higher inflation print in the US has dampened further hopes of rate cuts, negatively affecting gold prices,” said Colin Shah, MD of Kama Jewelry. “Going ahead, gold prices are likely to scale new highs which will be fuelled by the current geopolitical tensions in the Middle East and further intensification of war between Russia and Ukraine.”
Gold rate in Mumbai on November 25
Today, the 24-carat Gold is priced at Rs 75,430/10 grams. On November 25, the gold was available for Rs 77,920/10 grams. A week back, on November 19, gold was sold for Rs 75,790/10 grams.
Silver rate in Mumbai on November 26
Silver was sold for a price of Rs 87,930/Kg on November 26 in Mumbai, a fall of Rs 3,140 from November 25, when it was priced at Rs 91,070/Kg and a week ago the price was Rs 90,710, up Rs 1,600.
Gold rate in Kolkata on November 26
The 24-carat gold was trading for a price of Rs 75,330/10 grams, today, November 26. The glittering metal was selling for Rs 77,810/10 grams yesterday and was quoting for Rs 75,690/10 grams last week.
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