Gold Rates In India Nears Rs 1.3 Lakh Per 10 Grams: What Is Impacting 24K, 22K, 18K Gold Prices On December 1?

Gold rates in India are nearing their record high. With the start of December, expectations of a bullish trend are high in 24-carat, 22-carat, and 18-carat gold prices. 10 grams is nearing Rs 1.3 lakh. The silver rate in India is also Rs 5,000 away from crossing the Rs 1.95 lakh per 1 kg mark. The trend in gold is likely to be influenced by upcoming rate decisions by major central banks like RBI. Also, India's GDP growth rate came in at 8.2% in Q2, which is at a six-quarter high. Apart from this, major global trends will play a role in determining bullion and silver.

Gold Rates In India:

10 grams of gold were priced 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).

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. Gold rose by 5.5%.

Gold & Silver Prices Outlook:

According to Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd, gold and silver rose to over two-week highs, as the dollar declined and the opportunity cost of storing bullion decreased due to predictions of a looser US policy. Three more cuts are expected before the end of 2026, and markets currently price in an 85% chance of a 25-bps cut in December, a significant increase from approximately 30% a week ago.

He further explained that gold has again attempted to touch $4200 (~Rs 126,000) resistance of its rangebound momentum. Prices would need a solid trigger for prices to climb above $4200, if it does, next resistance would be $4245 (~Rs 127,800).

"If it doesn't, then prices can fall back to $4100 (~Rs 123,000)," said Kothari.

In case of silver, he said that silver has again attempted to touch the resistance zone of $53.5-54 (~Rs 161,000-162,000), if it sustains, we can see rally towards $56 (~Rs 170,000). Adding he said, "If it doesn't sustain and rebounds back, we can see profit-booking towards $50 (~Rs 153,000)."

MCX Gold Price + MCX Silver Price

Last week, on November 28, MCX gold price with December expiry was at Rs 1,26,920 per 10 grams, up by Rs 1,416 or 1.13%. Also, MCX gold with February 2026 expiry, soared by Rs 1,932 or 1.51% to end at Rs 1,29,599 per 10 grams.

Additionally, 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.

Should You BUY Gold & Silver At MCX?

Analysts at Nirmal Bang in their technical report dated December 1st, said, "gold prices are expected to rise. One can buy at 130000 with a stop loss of 129500. Prices are expected to test 130700-131200."

Also, analysts added, "silver prices are expected to rise. One can buy at 177000 with a stop loss of 175000 for the target 180000-182500."

Spot Gold Price + Spot Silver Price

Gold prices rose to around $4,240 per ounce on Monday, its highest in five weeks, driven by rising expectations of a US interest rate cut later this month. A series of dovish remarks from Federal Reserve officials, along with weak economic following the longest US government shutdown, have fueled expectations that the Fed may lower rates again, as per Trading Economics. Meanwhile, silver is trading at around $57.28 per ounce, up by 1.54%, at the time of writing.

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