Gold and silver prices on November 7. Check latest rates in your city today

Gold is considered as a safe and reliable mode of investment. It acts as an excellent hedge against inflation

Published on: Nov 7, 2023, 09:57:09 IST

By HT News Desk

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Gold prices decreased by Re 1 on Tuesday. According to the website Goodreturns, the price of 22K gold stood at ₹5,634 per gram. On the other hand, the price of 24K gold was at ₹6,146 per gram.

‘K’ or carat is a term used to measure the purity of gold. A 24K gold is called pure gold as it has a purity of 99.9 per cent. It is in liquid form and does not contain traces of other metals. A 22K gold comprises traces of other metals like copper and zinc.

Gold is considered as a safe and reliable mode of investment. It acts as an excellent hedge against inflation.

Here are gold prices for major Indian cities on Tuesday, November 7.

‘K’ or carat is a term used to measure the purity of gold

CITY	22K GOLD PRICE (Rs/10 GMS)	24K GOLD PRICE (Rs/10 GMS)
DELHI	56,490	61,610
MUMBAI	56,340	61,460
KOLKATA	56,340	61,460
CHENNAI	56,990	62,180
BENGALURU	56,340	61,460

Gold prices in India are dependent on several factors including currency, global demand, interest rates and government policies. If the rupee slides against the US dollar, the price of gold will increase.

Silver prices

This precious metal is always in demand for making jewellery. In India, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increases, the silver price will also increase.

The silver price remained unchanged on Tuesday at ₹75.20 per gram. In Delhi, Mumbai and Kolkata, the price of 10 grams of silver stood at ₹752. In Chennai and Bengaluru, the price of 10 grams of silver stood at ₹782 and ₹740 respectively.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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