Gold Price Today, November 16: Yellow metal at all-time high, silver above 2% on MCX — Check rates in Delhi, Mumbai and other cities

Gold Price Today: Gold showed a huge positivity on the third day of the week. The yellow metal was trading at all-time high on Multi Commodity Exchange (MCX) on Wednesday and crossed the level of Rs 53,000 per 10 grams. Silver was also above 2% in the afternoon trade.

Near 3:30 PM, both the metals were trading in green. The Gold December's future quoted Rs 53,184 per 10 grams, up by 0.83 percent. While Silver December futures were trading at Rs 62,842 per kg, up by 2.03 percent.

In line with firm global trend and depreciation in the rupee, Gold prices rose by Rs 320 to Rs 53,449 per 10 grams in Delhi today, according to HDFC Securities. Silver, however, dropped Rs 125 to Rs 62,682 per kg.

According to PTI, the precious metal had closed at Rs 53,129 per 10 grams in the previous trade.

"Gold prices steadied near a three-month peak as signs of cooling US inflation boosted bets for smaller rate hikes, while reports around Russian missiles killing two people in Poland led to some demand for safe-haven assets," said Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services.

Also Read: Credit Card-UPI linkage: How this will drive card acceptance ecosystem

In the international market, gold was trading higher at USD 1,777.56 per ounce while silver was down at USD 21.68 per ounce, as per PTI report.

Gold Price City-wise In India as of Nov 16, 2022 for 22k:

Chennai- Rs 49,600

Mumbai- Rs 48,000

Delhi- Rs 48,150

Kolkata- Rs 48,000

Bangalore- Rs 48,050

Hyderabad- Rs 48,000

Kerala- Rs 48,000

Pune- Rs 48,030

Vadodara- Rs 48,030

Ahmedabad- Rs 48,050

Lucknow- Rs 48,150

Vijayawada- Rs 48,000

Patna- Rs 48,030

Nagpur- Rs 48,030

Chandigarh- Rs 48,150

Surat- Rs 48,050

Bhubaneswar- Rs 48,000

Visakhapatnam- Rs 48,000

Nashik- Rs 48,030

On Wednesday, the rupee depreciated 66 paise to 81.57 against the US dollar in early trade, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities, according to PTI.

"Better domestic physical demand, a weaker rupee and higher international prices supported domestic gold prices," said PTI citing Research Analyst at HDFC Securities Dilip Parmar.

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)