Gold Rate Today, Up Or Down? Check Latest Price Trend In Your City On November 20 - News18

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Gold rate today in India on November 20: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)

Gold rate today in India on November 20: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)

Gold rate today: The retail price of gold is the amount it's sold to customers in the country.

Gold Rate Today In India: On November 20, 2023, the cost of 10 grams of gold differs in different cities, but on average, it’s about Rs 61,000. Specifically, 10 grams of 24-carat gold cost around Rs 61,690, while the same amount of 22-carat gold is valued at Rs 56,550. The current rate for silver is Rs 76,000 per kilogram.

Gold rate today in India: Retail gold price on November 20

Delhi Gold Rate 

In Delhi, people have to spend Rs 56,700 for 10 grams of 22-carat gold and Rs 61,790 for the same amount of 24-carat gold.

Ahmedabad Gold Rate 

In Ahmedabad, the current cost for 10 grams of 22-carat gold is Rs 56,600, and the same amount of 24-carat gold is priced at Rs 61,690.

Chennai Gold Rate 

In Chennai, the price for 10 grams of 22-carat gold is Rs 57,000, and for the same amount of 24-carat gold, it’s Rs 62,180.

Check gold rates today in different cities on November 20, 2023; (In Rs/10 grams)

City22 Carat Gold Price24 Carat Gold Price
Mumbai56,55061,690
Gurugram56,70061,790
Kolkata56,55061,690
Lucknow56,70061,790
Bengaluru56,55061,690
Jaipur56,70061,790
Patna56,60061,690
Bhubaneshwar56,55061,690
Hyderabad56,55061,690

Multi Commodity Exchange

On November 20, gold futures expiring on December 05, 2023, were trading at Rs 60,733 on the Multi Commodity Exchange. At the same time, silver futures with the same maturity date were priced at Rs 73,170.

The retail price of gold is the amount it’s sold to customers in the country. This price is influenced by various factors, including the global gold price, the value of the Rupee, and the costs associated with labour and materials used in making gold jewellery.

Gold holds great significance in India due to its cultural importance, investment value, and longstanding role in weddings and festivals.

Here are several factors that can exert influence on the price of gold:

Supply and Demand: The price of gold mainly depends on how much people want it and how much is available. If more people want gold, the price usually goes up. But if there’s too much gold available, the price can go down.

Global Economic Conditions: The overall global economy also has a big impact on gold prices. When the world economy is not doing well or there’s a recession, investors often choose gold as a safe option, causing its price to go up.

Political Instability: Political troubles can also affect gold prices. When there’s uncertainty or a crisis in an important country or region, investors might choose to protect their money by investing in gold. This increased demand can make the price of gold go up.

Namit Singh Sengar
Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy....Read More
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