Gold-Silver Rate Today: After Continuous Fall, Gold Prices Bounce Back Nationwide

New Delhi: After experiencing a continuous decline for four days, gold prices rose again today, November 7th. This is welcome news for investors as gold has become more expensive once again. In the capital city of Delhi, 24-karat gold has increased to ₹122,730 per 10 grams, while 22-karat gold has reached ₹112,510 per 10 grams. Impact of US Government Shutdown and Dollar Weakness This surge in gold prices is being observed not only in India but also in global markets. The US government shutdown has become the longest on record, increasing uncertainty in financial markets. In such situations, investors turn to safe-haven assets, and gold is considered a safe investment. Gold and Silver prices surge across major cities; Is this the right time to invest? Furthermore, the weakness of the US dollar has also pushed up the prices of gold and silver. When the dollar weakens, gold becomes cheaper internationally, leading to increased demand. Gold Prices in Major Indian Cities There are slight variations in gold prices across different cities in India. City 22 Carat (₹/10 grams) 24 Carat (₹/10 grams) City 22 Carat Gold (₹/10g) 24 Carat Gold (₹/10g) Delhi 112,510 122,730 Mumbai 112,360 122,580 Ahmedabad 112,410 122,630 Chennai 112,360 122,580 Kolkata 112,360 122,580 Hyderabad 112,360 122,580 Jaipur 112,510 122,730 Bhopal 112,410 122,630 Lucknow 112,510 122,730 Chandigarh 112,510 122,730 It is clear from this that gold prices are almost the same in all major cities of the country, with only a difference of a few rupees. Signs of an upward trend in the global market Goldman Sachs has predicted that the price of gold could reach $4,900 per ounce by December 2026. ANZ Bank, on the other hand, estimates that it will reach $4,600 per ounce by the middle of next year. [caption id="attachment_165594" align="aligncenter" width="1280"] Gold’s recent firmness is closely linked to international trends.[/caption] DSP Merrill Lynch also believes that the gold rally is not yet over, meaning that gold prices may remain at high levels in the coming months as well. Silver prices also surge Like gold, silver prices have also increased. In India, silver reached ₹152,600 per kilogram on November 7th. In the international market, the spot price of silver has reached $48.60 per ounce. Gold Rate Today: Is the minor dip a buying opportunity before the next surge? Both gold and silver prices depend on global economic conditions, the strength of the dollar, and investor demand. Therefore, the US shutdown and the weakness of the dollar are directly impacting prices in India as well.