Gold Rate in India Down Rs 2,180/10 Gm In Week; Time For Gold To Touch Rs 1.5 Lakh? 24-29 Nov Weekly Outlook

Gold Rate in India: Gold and silver prices continued to move in a narrow range last week, influenced by key global cues such as US jobs data, Federal Reserve meeting minutes, and other macroeconomic indicators. Tracking the international trend, domestic prices remained volatile, witnessing intermittent dips and rebounds. As we step into the new week, investors will closely monitor gold price movements between 24 November and 25 November.

A host of factors, including market expectations around the US Fed rate cut in December, trade tariffs developments, upcoming GDP data, etc, can impact the demand for gold and silver prices. Back in India, the demand for gold and silver will remain strong due to the ongoing wedding season.

Gold Rate in India

The price of 24 karat gold in India remained at Rs 12,584 per gram on Sunday, November 23. The rate of 22 karat gold in India stood at Rs 11,535 per gram. Whereas, the price of 18 karat gold in India stood at Rs 9,438 per gram.

Silver Rate in India

The price of silver in India remained at Rs 164 per gram and at Rs 1,64,000 per kilogram on Sunday. The rate of silver has increased significantly since the beginning of the year due to strong industrial demand and supply side constraints.

MCX Gold, Silver Rate

MCX Gold futures rate with December expiry closed at Rs 1,24,195 per 10 gram on Friday, November 21. Whereas, the silver futures rate with December expiry closed at Rs 1,54,052 per kilogram. International gold rate was priced at $4,080 per ounce on Friday, as per Trading Economics.

Gold, Silver Weekly Outlook

The outlook for gold prices remains positive for the week indicating gradual surge in 24K, 22K and 18K gold rates. However, there can be some consolidation if strong US GDP data and other positive macroeconomic indicators will keep investors sentiment in check. However, weaker than expected GDP data may fuel concerns among investors and support gold's safe-haven rally.

"The outlook for gold remains cautiously positive, with further gains possible but not guaranteed. Much of the recent rally's supportive factors-rate-cut expectations, a softer USD, ETF inflows and central-bank buying-are already reflected in current prices, meaning the upside from here depends on new catalysts," explained Ross Maxwell, Global Strategy Lead at VT Markets.

"Price-wise, bullion has held near elevated levels after only a modest pullback over the past month, suggesting dips continue to meet strategic buying rather than capitulation. Under the surface, two supports remain notable: central-bank demand stayed robust in Q3, with net purchases around 220 tonnes, and ETF trends have turned more constructive, with global holdings and AUM rising into October; India has also seen record year-to-date inflows into gold ETFs," stated Bhavik Joshi, Business Head, INVasset PMS.