Gold Rates In India End November Higher, But Silver Beats With 22% Rally; 24K, 22K, 18K Gold Prices Outlook

Gold rates in India ended the month of November with more than 5.5% upside and near record highs. That being said, 24 carat gold price stood closer to Rs 1.3 lakh mark in 10 grams. while silver rate in India stood at Rs 1.85 lakh per 1Kg. Going ahead, the month of December will see major rates decision from US Federal Reserve & RBI, along with economic data, year-end and third-quarterly-end sentiment. Will 24 carat, 22 carat and 18 carat gold prices touch new all-time highs in the coming days?

Gold Rates In India:

10 grams gold price stood at Rs 1,29,820 in 24 carat, at Rs 1,19,000 in 22 carat and at Rs 97,370 in 18 carat. Meanwhile, 100 grams gold rates are at Rs 12,98,200 in 24 carat, at Rs 11,90,000 in 22 carat and at Rs 9,73,700 in 18 carat.

The cheapest price of gold is at Rs 12,982 per gram for 24 karat gold, Rs 11,900 per gram for 22 karat gold and Rs 9,737 per gram for 18 karat gold (also called 999 gold).

Overall, gold prices have climbed by 5.54% in November month.

Silver Rates In India:

The price of 1Kg silver is at Rs 1,85,000, while 100 grams and 10 grams silver stood at Rs 18,500 and Rs 1,850. The cheapest silver is priced at Rs 185.

Noteworthily, silver outperformed gold with a whopping 21.71% upside in November month.

MCX Gold Price + MCX Silver Price

Last week, on November 28, here's how MCX gold and silver futures performed:

- MCX gold price with December expiry was at Rs 1,26,920 per 10 grams, up by Rs 1,416 or 1.13%.

- MCX gold with February 2026 expiry, soared by Rs 1,932 or 1.51% to end at Rs 1,29,599 per 10 grams.

- MCX silver with February 2026 expiry, climbed by Rs 278 or 0.16% to end at Rs 1,75,650 per 1Kg.

- MCX silver with March 2026 expiry, rose by Rs 359 or 0.21% to close at Rs 1,75,340 per 1kg.

Spot Gold + Spot Silver

Gold climbed past $4,220 per ounce on Friday to a one-month high and is on track for a fourth straight monthly gain as markets price a higher probability of a December Fed rate cut. Dovish remarks from several Fed officials and delayed economic releases showing weakness strengthened expectations of easing, as per Trading Economics. Silver extended its rally, soaring above a record $56 per ounce amid mounting supply concerns and growing expectations of further Federal Reserve rate cuts.

Gold & Silver Rates In India Weekly Outlook:

According to analysts at SMC Global Securities, gold prices rose 1.3% and silver rallied over 6% last week as expectations for a December Federal Reserve rate cut strengthened. Dovish remarks from Fed officials and weaker economic indicators have reinforced hopes of monetary easing.

In their weekly note, the analysts highlighted that markets now price in an 80% probability of a 25 bps cut next month, sharply higher from 30% a week ago, with three additional cuts expected by the end of 2026. Sentiment was further boosted after Kevin Hassett, viewed as the frontrunner to succeed Jerome Powell as Fed Chair, voiced support for President Trump's call for rate reductions.

Also, some data, such as initial jobless claims and durable goods orders, were
stronger than expected, traders continue to focus on the broader signs of cooling demand, aligning with a dovish policy outlook.

That being said, gold remains on course for its strongest annual performance since 1979, supported by heavy central bank buying and robust ETF inflows. However, easing geopolitical tensions following reports of tentative Ukraine peace talks capped upside momentum by reducing safe-haven demand. Silver outperformed on supply concerns, as Chinese inventories fell to their lowest level in a decade after record exports of over 660 tonnes in October.

Looking ahead, SMC's analysts added, the sharp drawdown and recent shipments to London have tightened near-term availability, driving prices higher. Technically, COMEX Gold faces resistance near $4,550, with a breakout paving the way to $4,600, while strong support lies at $3,890. Silver is expected to trade between $49-$55. On the MCX, gold may move within Rs. 119,800-Rs. 1,28,000 with a positive bias, while silver could fluctuate between Rs. 1,52,000-Rs. 1,72,000 during the week ahead.

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