Gold Rate Today 16 Nov: This week has seen a sharp increase in the prices of both gold and silver. While gold prices have risen in the domestic market, silver prices have also reached new heights. In the past week, 24-carat gold has strengthened by ₹3,060 per 10 grams.
Meanwhile, 22-carat gold gained approximately ₹2,800. On November 16, 24-carat gold reached ₹1,25,230 per 10 grams in Delhi. Experts believe that strong global cues, a weak dollar, and the US government shutdown supported gold prices.
Gold Rate Today 16 Nov: Prices may increase after the shutdown ends
Experts say that economic data following the end of the US shutdown could be the next major trigger for gold. Markets are anticipating weak economic data, which could further boost gold demand. Additionally, a rise in gold inventories in Shanghai was also a significant factor in driving prices higher.
Gold Rate Today 16 Nov: Gold prices in major cities of the country (₹/10 grams)
| City | 22 Carats | 24 Carat |
|---|---|---|
| Delhi | ₹1,14,800 | ₹1,25,230 |
| Mumbai | ₹1,14,650 | ₹1,25,080 |
| Ahmedabad | ₹1,14,700 | ₹1,25,130 |
| Chennai | ₹1,15,500 | ₹1,26,000 |
| Kolkata | ₹1,14,650 | ₹1,25,080 |
| Hyderabad | ₹1,14,650 | ₹1,25,080 |
| Jaipur | ₹1,14,800 | ₹1,25,230 |
| Lucknow | ₹1,14,800 | ₹1,25,230 |
| Chandigarh | ₹1,14,800 | ₹1,25,230 |
Gold Rate Today 16 Nov: 18 carat gold price (₹/10 grams)
| City | 18 Carat (₹/10 gm) |
|---|---|
| Delhi | ₹93,960 |
| Lucknow | ₹93,960 |
| Vijayawada | ₹93,810 |
| Bengaluru | ₹93,810 |
| Chennai | ₹96,400 |
Silver Rate Today: Huge jump in silver prices
Silver prices saw a significant jump of approximately ₹16,500 over the past week. On November 16th, silver prices reached ₹169,000 per kilogram in the country. The spot price of silver in the international market was recorded at $52.03 per ounce. Gold and silver prices are influenced by the domestic market as well as the global economy, currency fluctuations, and international demand.
Silver Rate Today 16 Nov: Silver prices in major cities
| City | Silver (₹/Kg) |
|---|---|
| Delhi | 1,69,000 |
| Mumbai | 1,69,000 |
| Ahmedabad | 1,69,000 |
| Chennai | 1,80,000 |
| Kolkata | 1,69,000 |
| Gurugram | 1,69,000 |
| Lucknow | 1,69,000 |
| Bengaluru | 1,69,000 |
| Jaipur | 1,69,000 |
| Patna | 1,69,000 |
| Bhubaneswar | 1,69,000 |
| Hyderabad | 1,75,000 |
Gold Rate Today 16 Nov: Reasons for price fluctuations
Several domestic and international factors influence the prices of gold and silver:
- global demand and supply
- Strength or weakness of the dollar in the international market
- Changes in interest rates
- Geopolitical events
- Investor sentiment and market uncertainties
Due to all these reasons, the prices of gold and silver keep fluctuating daily.
Also Read: Gold and silver prices decline as Bihar election momentum peaks, find out latest rates in your city
