Gold Rates In India Today, 27-Nov: 24K/100 Grams of Yellow Metal Price Rally Rs 2,700; Silver Stable

Gold prices in India saw an enormous rise today, November 27, Wednesday, as a result of the war risk declining as Middle East tensions de-escalated and heightened appetite for safe-haven assets amid rising geopolitical concerns. Following two days of straight falls on November 25 and 26, gold recovered its momentum. More demand for safe-haven assets has supported gold in the face of heightened tensions between Russia and Ukraine, causing the yellow metal to surge in value.

Gold Rates In India Today

Gold now costs Rs 7,105 per gramme for 22 carat gold and Rs 7,751 per gramme for 24-carat gold in India. While 22k of 100 grams of gold prices in India increased by Rs 2,500 to Rs 7,10,500 on Wednesday from Rs 7,08,000 on Tuesday, 22k of 10 grams will cost Rs 71,050 today, which was Rs 70,800 yesterday, representing a price surge of Rs 250.

While 24k of 100 grammes of yellow metal would cost Rs 7,75,100 on Wednesday, which was Rs 7,72,400 on Tuesday, reflecting a price increase of Rs 2,700, 24k of 10 grammes of gold reached Rs 77,510, which was Rs 77,240 yesterday, showing a price leap of Rs 270.

While 18k of 100 grammes of gold will cost Rs 5,81,300 on Wednesday, up Rs 2,000 from Rs 5,79,300 on Tuesday, the price of 18-carat gold per 10 grammes today will cost Rs 58,130, up Rs 200 from Rs 57,930 yesterday.

Spot Gold Today

As investors awaited key U.S. inflation data, gold prices fluctuated within a small range on Wednesday. As of 0222 GMT, spot gold was stable at $2,635.56 an ounce, mostly staying within a narrow $9 range throughout the session. According to Reuters, U.S. gold futures climbed 0.6% to $2,635.80 on Tuesday, while gold fell to a one-week low. Palladium dropped 0.4% to $973.50, platinum was unchanged at $927.45, while spot silver slipped 0.1% to $30.39 an ounce.

Silver Rates Today In India

Today, November 27, silver prices remained steady in India despite geopolitical worries and demand for safe-haven assets. Today, silver costs Rs 89.50 per gramme and Rs 89,500 per kilogramme in India. While the price of one kilogramme of silver remained steady at Rs 89,500 on Wednesday compared to Tuesday, 10 grams of silver will cost Rs 895 today and 100 grams will cost Rs 8,950.

MCX Gold Outlook Today

"Gold rose toward $2,640 per ounce on Wednesday as investors continued to digest the latest FOMC minutes while awaiting key US data for further insights into the Federal Reserve's monetary policy outlook. Nevertheless, gold's appeal remained tempered by easing geopolitical risks and a stronger US dollar. Elsewhere, China's net gold imports through Hong Kong in October fell from September and dropped 43% yoy .The domestic yellow metal MCX Gold (Dec 2024 Contract closed weak near the lows for the day forming a small weak bearish candle on the daily chart. The commodity is presently approaching its crucial supply zones around 75700/76000 levels which should act as resistance. On the downside, support for MCX Gold lies at 74653/ 74000 levels with a break below 75000 level can potentially drag prices toward 74000/73500 levels. Traders are advised to trade with strict stoploss as volatility may remain high due to ongoing geopolitical issues," said the research analysts of Way2Wealth Brokers Private Limited.

Spot Gold & Silver Outlook Today

"Spot gold is expected to face the hurdle near $2650 and move lower towards $2600 amid strong dollar and growing prospects of slowdown in rate cuts. Further, forecast of better than expected economic numbers from US could check its upside. US GDP numbers is likely to indicate steady growth in the economy. Further, sticky inflation numbers could again hurt rate cut prospects which would weigh on the bullions. Meanwhile, global trade war concerns may limit he downside in the yellow metal," said the technical research analysts of ICICI Direct Research.

"Spot gold has been trading under the 20 day EMA at $2650, which would act as key resistance for price. Further closer of OI in ATM and OTM put strikes indicates downside in price. MCX Gold February is expected to decline towards 75,200 as long as it remains under 76,600. Spot Silver is likely to face the hurdle near 100 day EMA at $30.60 and move towards $29.80. MCX Silver March is expected to move towards 89,200, as long as it trades below 92,000," the brokerage further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.