Gold Prices Surge on 20 November: Strong Rally in Domestic Markets, Silver Also Hits New High

Gold prices strengthened across major Indian cities on 20 November, reflecting a firm trend in global markets and strong domestic demand. Both gold and silver recorded notable gains, with 24-carat gold reaching new highs in several regions. The upward movement comes amid global economic cues, currency fluctuations, and increased investor interest, all of which have contributed to a steady rise in bullion prices.

According to market data, 24-carat gold in the national capital is now priced at ₹125,020 per 10 grams, while 22-carat gold stands at ₹114,800 per 10 grams. The momentum in the bullion market is driven not only by domestic factors such as festive demand and investment buying but also by global indicators, where spot gold is currently trading at USD 4,114.01 per ounce.

In Mumbai, Chennai and Kolkata, the price of 22-carat gold is ₹114,640 per 10 grams, while 24-carat gold is priced at ₹124,870 per 10 grams. These cities have witnessed consistent price movements in line with national and international trends, indicating a uniform market sentiment. Bengaluru and Pune also reported similar prices, with 24-carat gold at ₹124,870 per 10 grams and 22-carat gold at ₹114,460 per 10 grams.

A look at the latest rates across major cities shows a clear upward trend:

• Delhi: 22-carat – ₹114,610; 24-carat – ₹125,020

• Mumbai: 22-carat – ₹114,460; 24-carat – ₹124,870

• Ahmedabad: 22-carat – ₹114,510; 24-carat – ₹124,920

• Chennai: 22-carat – ₹114,460; 24-carat – ₹124,870

• Kolkata: 22-carat – ₹114,460; 24-carat – ₹124,870

• Hyderabad: 22-carat – ₹114,460; 24-carat – ₹124,870

• Jaipur: 22-carat – ₹114,610; 24-carat – ₹125,020

• Bhopal: 22-carat – ₹114,510; 24-carat – ₹124,920

• Lucknow: 22-carat – ₹114,610; 24-carat – ₹125,020

• Chandigarh: 22-carat – ₹114,610; 24-carat – ₹125,020

These figures reflect a consistent rise in prices across the country, signalling strong consumer sentiment as well as global market support. Analysts note that geopolitical uncertainty, inflation concerns and shifting investment patterns continue to influence gold prices worldwide.

Silver too witnessed a significant jump. On 20 November, silver prices touched ₹168,100 per kilogram in the domestic market, indicating strong momentum similar to gold. In the international market, the spot price of silver climbed to USD 52.26 per ounce. The metal has been gaining traction as both an industrial commodity and a safe-haven asset, contributing to its steady price rise.

Market experts point out that domestic gold and silver prices are closely linked to global trends. Factors such as currency movements, central bank policies, inflation expectations, and global demand play a major role in determining bullion rates in India. With the festive and wedding seasons influencing buying interest, demand for precious metals often increases during this period.

Investors are also keeping a close watch on global economic developments, including monetary policy announcements, economic data releases, and geopolitical events. These elements collectively shape market expectations and contribute to price volatility in precious metals.

As prices continue to rise, consumers and investors are advised to stay updated on rate movements and make informed decisions. Whether for investment or jewellery purchases, monitoring price trends can help buyers optimise their timing and choices.

Overall, the upward momentum in gold and silver on 20 November highlights the metals’ continued appeal as safe-haven assets amid global uncertainty. With both domestic and international markets signaling support, bullion prices may continue to witness fluctuations in the days ahead.