Gold price today: Rates rise up to ₹77,950 for 24K/10g, on escalations in Russia-Ukraine war

Gold prices in India witnessed a significant surge on Friday, November 22, following a 1.28% rise on the previous day. The gold prices closed at ₹76,529 per 10 grams on November 21, marking a weekly high. The rally extended today, with 24K gold reaching as high as ₹7,882 per gram, while the 22K gold price stands at ₹7,225 per gram in Mumbai.

Rising geopolitical tensions in the Middle East and uncertainties surrounding the US Federal Reserve's interest rate decisions are heightening demand for safe-haven assets. The yellow metal attracted more investors globally due to the weaker dollar's stronger support. Additionally, gold prices in India are influenced by rupee exchange rates, import duties, and rising local demand.

• Delhi: ₹78,970 (24K) / ₹72,400 (22K)
• Mumbai: ₹78,820 (24K) / ₹72,250 (22K)
• Chennai: ₹78,820 (24K) / ₹72,250 (22K)
• Kolkata: ₹78,820 (24K) / ₹72,250 (22K)
• Bangalore: ₹78,820 (24K) / ₹72,250 (22K)

In the second quarter of 2024, gold demand decreased by 6% to 929 tonnes, driven primarily by a decline in jewellery consumption, according to Moneycontrol. World Gold Council noted that the use of gold for technological purposes increased during this period.