Gold rates in India have seen brief volatility so far in November month. Currently, 24 carat gold price is away by Rs 7,690 in 10 grams and by Rs 76,900 in 100 grams from its all-time highs that was recorded before Diwali festival. Despite momentary corrections, gold prices have stayed in positive with nearly 2% gains so far in November. Going ahead, gold prices are likely to see volatility. But the question is whether 10 grams gold price will touch Rs 1,30,000 mark by this end or will pullback further. Will gold hit Rs 1.3 lakh mark by next week?
In 24 carat, the 100% purest gold, 10 grams is priced at Rs 1,25,080, 100 grams at Rs 12,50,800, 8 grams at Rs 1,00,064, and 1 gram gold at Rs 12,508.
Meanwhile, in 22 carat, gold prices are at Rs 1,14,650 in 10 grams, at Rs 11,46,500 in 100 grams, at Rs 91,700 in 8 grams, and at Rs 11,465 in 1 gram. 22 carat is 91.67% pure gold and rest 8.33% is a mixture of metals like silver, zinc, nickel, or other alloys.
Under the 18 carat, which is 75% pure gold and 25% other metals, is available at Rs 93,810 in 10 grams, at Rs 9,38,100 in 100 grams, at Rs 75,048 in 8 grams, and at Rs 9,381 in 1 gram.
Gold prices in India are up by nearly 1.7% in November so far. This is lower compared to 3.4% surge in overall October. The 24 carat gold price had touched a new all-time high of Rs 1,32,770 on October 17, right before Dhanteras.
According to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), recent global cues have firmed safe-haven demand, and jewellery demand in the domestic market is providing additional momentum. In summary, the price of gold is rising and shows signs of sustaining this heightened level in the short term.
Silver rates in India are also unchanged on November 16, just like gold. 1Kg silver is priced at Rs 1,69,000, while 100 grams and 10 grams silver rates are at Rs 16,900 and Rs 1,690. The cheapest silver is at Rs 169.
Silver prices have outperformed gold in over two weeks of November, with nearly 11.2% gains. This is better performance compared to October where silver prices were subdued.
For silver, Kamboj said, it is observed that safe‐haven flows are boosting investor demand, but jewellery and gifting demand in India is also rising in volume. Silver price trends show that prices are rising, and the outlook remains generally constructive.
Will Gold Hit Rs 1.30 Lakh Mark Soon?
In the latest weekly outlook report, analysts at SMC Global Securities explained that gold prices posted a weekly rise, supported by a weaker U.S. dollar as investors awaited more economic data to assess the likelihood of a December rate cut following hawkish remarks from Federal Reserve officials. The Dollar Index registered its second consecutive weekly decline, making gold more attractive for investors holding other currencies.
Further, these analysts pointed out that the recent strength in gold was driven by a softer dollar and speculative buying amid expectations that the Fed may soon begin easing. However, the reopening of the U.S. government after a record 43-day shutdown and renewed inflation concerns have slightly shifted expectations. Investors now believe the Fed may adopt a more cautious approach toward further rate cuts.
Also, several policymakers have expressed reluctance to pursue additional easing, citing inflation risks and relative stability in the labour market. Last month, the Federal Reserve lowered interest rates by 25 basis points, but Chair Jerome Powell emphasized caution over another reduction this year, pointing to limited economic data due to the shutdown.
The latest CME FedWatch tool also signalled that investors are expecting 51% probability of a quarter-point cut in December, down from 64% in the previous session.
That being said, analysts at SMC are predicting gold to come closer to Rs 1.3 lakh in the week ahead.
Technically, SMC's note said, "on Comex, gold prices face strong resistance near $4,380 and support around $3,900. A breakout on either side could define the next directional move. Silver prices briefly approached recent highs but failed to sustain gains; a move above $55 could trigger a fresh rally toward $60, while support lies near $49. In the domestic market, gold is expected to trade within a broad range of Rs. 1,19,500-Rs. 1,29,000 per 10 grams in the coming week. Silver may fluctuate between Rs. 1,49,000 and Rs. 1,73,000 per kg amid mild volatility and sensitivity to U.S. macroeconomic cues."
MCX Gold Price + MCX Silver Price:
MCX gold price with December 2025 expiry, ended at Rs 1,23,377 per 10 grams on November 14, down by Rs 77 or 0.06%. The correction came back after the bullion crossed Rs 1,27,000 per 10 grams mark during the trading hours.
MCX silver price ended at Rs 1,55,530 per 1kg, after crashing by Rs 6,940 or 4.27%.
Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.
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