After a steep decline, gold prices reached a one-week high; check the prices of gold and silver in Delhi, Mumbai, Kolkata, and other cities on November 21.
After a steep decline, gold prices reached a one-week high; check the prices of gold and silver in Delhi, Mumbai, Kolkata, and other cities on November 21.
Silver prices increased by Rs 700 per kilogram and gold prices by Rs 1,000 per 10 grams over the last two days, indicating a robust recovery after both metals reversed a previous downward trend.
Both gold and silver futures ended Tuesday’s trading session higher, both locally and globally. While the silver December futures contract closed at Rs 90,630 per kilogram, up 0.13%, the gold December futures contract settled at Rs 75,585 per 10 grams, up 0.72%.
Today’s November 21 gold and silver prices
On November 21, the price of 24 carat gold in India was Rs 76,190 for 10 grams. 24-carat gold costs Rs 7,619 per gramme. The rate of 22-carat gold was Rs 69,841 per 10 grams.
Experts on Gold & Silver Outlook
Commenting on the gold outlook, Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, noted that gold prices rose sharply due to escalating geopolitical tensions, particularly concerns over nuclear risks in the ongoing Russia-Ukraine conflict, which fueled a surge in safe-haven demand. On Comex, gold climbed by $24 to $2,635, while on MCX, prices jumped by Rs 700.
Trivedi also pointed out that technically, gold faces significant resistance in Comex around $2,640–2,650, with support levels near $2,600–2,610. In MCX, strong resistance is seen between Rs 76,100 and Rs 76,300, while key support is around Rs 75,000–75,200. He expects continued market volatility as geopolitical developments unfold, with safe-haven buying likely to sustain gold prices in the short term.
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 increase the money supply, gold serves as a hedge against potential currency devaluation, making it a dependable asset during times of economic uncertainty.
Its ability to withstand inflation further boosts its attractiveness. As living costs rise, gold’s value often climbs, providing a shield for investors against inflationary pressures. During economic downturns, gold tends to outperform other assets, safeguarding portfolios from devaluation and offering a buffer against financial instability.
Gold rate in Mumbai on November 21
The glittering metal was quoted for a price of Rs 76,190/10 grams in Mumbai on November 21. On November 20, the price of gold was Rs 75,790/10 grams. Seven days back, on November 14, gold was trading for Rs 74,240/10 grams.
Silver rate in Mumbai on November 21
The shining metal silver was selling for a rate of Rs 90,210/Kg on November 21 in Mumbai. Whereas on November 20, the metal was priced at Rs 90,870/Kg and a week ago the price was Rs 89,090/Kg.
Gold rate in Kolkata on November 21
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 75,690/10 grams, today, November 21. The glittering metal was selling for Rs 75,110/10 grams on November 20 and was quoting for Rs 74,140/10 grams last week.Redmi A4 5G Launched with Snapdragon 4s Gen 2 SoC
Silver rate in Kolkata on November 21
The silver rate in Kolkata today was Rs 90,090/Kg. The price of silver was Rs 90,750/Kg on November 20. Last week, the price was trading at Rs 89,980/Kg.
Gold rate in Delhi on November 21
On November 21, the gold was trading at a price of Rs 75,660/10 grams. The gold was quoted at Rs 75,080/10 grams on Tuesday, November 20.
Silver rate in Delhi on November 21
In Delhi, the silver was priced at Rs 89,980/Kg on November 21. The price of silver was Rs 90,710/Kg on November 20. The price of silver was quoted at Rs 88,940/Kg last week.
Gold rate in Chennai on November 21
The gold rate in Chennai was Rs 76,410/10 grams today, November 21. On Wednesday 20-11-2024 the gold rate was quoted at Rs 76,010/10 grams. On November 14 or a week ago, the price of gold was Rs 74,510/10 grams in Chennai.
Silver rate in Chennai on November 21
The silver rate in Chennai today, November 21, is Rs 90,470/Kg. On November 20, the price of silver at Rs 91,140/Kg. The silver in Chennai was available to the customers for a price of Rs 89,390/Kg a week ago.
MCX Futures on November 21
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 75,985 per 10 gm, a jump of Rs 398. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 89,959 per kg, a fall of Rs 661.According to an Ookla analysis, the iPhone 16 has the fastest 5G download speeds worldwide.
