Gold Prices Stable as Indian Market Watches Global Trends

Gold prices stayed stable on Tuesday, with spot gold at $2,735.96 per ounce, slightly lower than last week’s peak of $2,790.15. In India, 24-carat gold stands at ₹8,024 per gram, while 22-carat is ₹7,355 per gram. The Multi Commodity Exchange reported a small drop in December futures for gold, with a 0.13% decrease at ₹78.20 per 10 grams.

Factors like the upcoming U.S. presidential election and Federal Reserve policy meeting are increasing market caution, pushing investors toward gold for security. Analysts predict further potential gains in gold due to sustained government spending, a trend anticipated to keep gold prices steady amid economic uncertainties.

Here are the gold rates for 22K and 24K gold in various Indian cities as of today, November 5, 2024:
• Mumbai: ₹73,823 (22K), ₹80,573 (24K)
• Delhi: ₹73,723 (22K), ₹80,413 (24K)
• Bangalore: ₹73,565 (22K), ₹80,255 (24K)
• Chennai: ₹73,571 (22K), ₹80,261 (24K)
• Ahmedabad: ₹73,631 (22K), ₹80,321 (24K)
Gold rates fluctuate daily, influenced by factors like global demand and currency exchange rates