Gold Rates In India In Meteoric Rally; 100 Grams Gold Up Rs 19,100, Silver Up Too; 24K, 22K, 18K Gold Prices

Gold rates in India recorded a mega rally on November 25, with the 24-carat gold price rising by Rs 19,100 in 100 grams and Rs 1,910 in 10 grams. This comes after gold prices across the globe corrected sharply. Meanwhile, silver rates in India also witnessed an impressive rally on Tuesday, as 1 kg of silver is up by Rs 4,000. Although gold and silver prices are moving volatilely, the renewed uptrend is due to a series of US economic data scheduled for this week. The US' September retail sales, PPI figures, and weekly jobless claims are going to give further clarity on US Federal Reserve's decision on rates in December.

"Gold and silver remained highly volatile but sharp rebounded from low ahead of a heavy U.S. data calendar following the end of the U.S. government shutdown. precious metals found support from the New York Fed Governor's dovish remarks on a possible December rate cut, with market expectations for a 25 bps has surged to around 81%, up sharply from about 40% a week earlier," said Rahul Kalantri, VP Commodities, Mehta Equities.

Gold Rates In India:

24 Carat Gold Prices:

24 carat is 100% pure gold. This gold in 10 grams rises by Rs 1,910 on November 25 to Rs 1,27,040, while it rallied by Rs 19,100 to Rs 12,70,400 per 100 grams. The same carat is up by Rs 1,538 in 8 grams to Rs 1,01,632 and 1 gram is up by Rs 191 to Rs 12,704.

22 Carat Gold Prices:

Meanwhile, 22 carat which is 91.67% gold purity and rest 8.33% as metals and alloys, climbed by Rs 17,500 to Rs 11,64,500 per 100 grams. In 10 grams, this gold jumped by Rs 1,750 to Rs 1,16,450. Further, 8 grams and 1 gram of 22 carat gold is higher by Rs 1,400 and Rs 175 to Rs 93,160 and Rs 11,645 respectively.

18 Carat Gold Prices:

The 18 carat gold has only 75% purity and rest is alloys. In 10 grams, 18 carat zoomed by Rs 1,430 to Rs 95,280 on Tuesday, while the price soared by Rs 14,300 to Rs 9,52,800 in 100 grams. Moreover, 8 grams gold is up by Rs 1,144 to Rs 76,224 and 1 gram inched up by Rs 143 to Rs 9,528.

Should You Buy Gold?

As per Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), in the current market context, gold remains a strong portfolio anchor in the current environment, with a mild increase in price compared to the previous week in India. This price uptick has been driven by ongoing wedding-season jewelry demand, alongside its established role as an inflation hedge and a hedge against currency risk.

Further, he added, wider global cues, such as a strong US dollar and monetary shifts in various central bank approaches, can be expected to soften modest upsides, but the domestic fundamentals seem favorable. Investors are buying gold not only for ornamental value but also for long-term preservation of real wealth.

Silver Rates In India:

Just like gold, silver rates in India also posted robust jump. 1Kg silver rate surged by Rs 4,000 to Rs 1,67,000. While silver rates in 100 grams and 10 grams stood at Rs 16,700 and Rs 1,670. The cheapest silver is at Rs 167.

Should You Buy Silver?

In Kamboj's view, silver is showing a slight increase in Indian markets, driven by some combination of industrial usage and traditional investment demand.

During the wedding season, silver jewellery and other gift items help increase the off-take for silver, while industrial demand continues to provide a structural under pinning, particularly in electronics and solar.

"A gradual interest is seen returning to silver as sentiment shifts incrementally from a consolidation phase to a stage of modest gain potential for both buyers and investors," he added.

MCX Gold Price + MCX Silver Price

MCX gold price with December expiry, skyrocketed by Rs 1,462 or 1.2% to trade at Rs 1,25,316 per 10 grams, which was near its intraday high of Rs 1,25,521 per 10 grams.

Additionally, MCX silver price with December expiry, advanced strongly by Rs 2,103 or 1.4% to trade at Rs 1,27,010 per 1Kg, which is also closer to its day's high of Rs 1,27,260 per 1Kg.

Gold & Silver Prices Outlook

Going ahead, Mehta Equities expert said, investors now await key US data-including September retail sales, PPI figures and weekly jobless claims-for clearer insight into economic conditions and the Fed's policy path. Gold has support at $4100-4065 while resistance at $4170-4195. Silver has support at $51.00-50.65 while resistance is at $51.70-52.10. In INR gold has support at Rs1,23,150-1,22,580 while resistance at Rs1,24,650-1,25,200. Silver has support at Rs1,53,650-1,52,800 while resistance at Rs1,56,140, 1,57,000.

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