Gold Rate In India Sees A Sharp Rebound: Is November the Start of Next Big Gold, Silver Rally? 1 Nov Outlook

Gold Rate in India: Gold prices in India witnessed a sharp surge on Friday, October 31, as buyers took advantage of the recent decline in rates. The sudden rebound in both gold and silver prices has unsettled expectations of a prolonged price consolidation. As the new month begins, all eyes are now on the movement of gold and silver prices on Saturday, November 1.

Gold rate in India witnessed a sharp jump on Friday, but still remained close to its three-week low mark. The bearish momentum in gold prices is in sync with the declining international gold rates. Fading US Fed rate cut expectations in December and improving geopolitical tensions are further supporting gold's downward momentum.

Gold Rate in India

The price of 24 karat gold in India increased to Rs 12,328 per gram on Friday. Whereas, the price of 22 karat gold in India jumped to Rs 11,300 per grams. Likewise, the rate of 18 karat gold in India soared to Rs 9,246 per gram on October 31. Gold rate in India has increased by more than 50% since the beginning of the year 2025. The sharp surge in gold prices coincides with a massive shift in geopolitical scenario and trade tensions.

Silver Prices In India

Silver rate in India on Friday stood at Rs 151 per gram and at Rs 1,50,100 per kilogram. Silver prices in India have also witnessed a sharp jump since the beginning of the year 2025 due to strong industrial demand and silver's attractive valuation compared to gold.

Gold, Silver MCX

The international gold rate on Friday remained close to its 3-week low mark of $4,020 per ounce, according to Trading Economics. The sharp decline in gold rates over the past few weeks has come amid declining expectations of US Fed Reserve rate cut and improved ties between US and China. Gold Futures with December expiry closed at Rs 121508.00 per 10 gram.Silver Futures with December expiry closed at Rs 148287 per kilogram.

Gold, Silver Price Outlook

Gold prices may remain stable as most of the commodity markets will remain shut on Saturday, 1 November. Experts believe that the recent price correction may be followed by another rally in gold and silver prices. However, some argue that gold and silver may continue to move in the range-bound manner in the coming months.

"Gold is quietly setting up for its next rally. After a brief correction from recent highs, both gold and silver are trading at more attractive levels, creating a strategic entry point for long-term investors. Historically, every major gold cycle has coincided with currency debasement, liquidity expansion, and strong central-bank accumulation - all of which are once again converging," explained Harshal Dasani, Business Head, INVasset PMS.

"In essence, the current dip in gold and silver is not a warning sign but an opportunity. With central banks accumulating aggressively and monetary easing underway, gold continues to stand as a hedge against inflation, currency erosion, and volatility, and this correction could well be the calm before a powerful new rally," he added.

Gold price's minor correction phase reflects investor caution as global markets respond to mixed signals and fluctuations in the dollar index, explained Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

"The reversal in gold prices to consolidate higher levels is also due to declining speculative interest in gold. Consolidation in this phase means that gold will trade within a narrow range until additional clarity is attained on economic growth and monetary policy signals," stated Kamboj.

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