Gold Prices Continue Rally on Rate Cut Hopes
Gold prices extended their gains in domestic markets, driven by expectations of a US Federal Reserve interest rate cut. The precious metal closed higher in futures trading on November 28.
Key Takeaways
- Gold December futures rose 1.13% to ₹1,26,920 per 10 grams
- Silver March contracts gained 0.21% to ₹1,75,340 per kg
- 24-carat gold stood at ₹1,27,580 per 10 grams on November 29
Market Performance
Gold has delivered exceptional returns over the long term, surging nearly 1,500% over two decades. The metal has gained 56% year-to-date, supported by global economic uncertainty and strong investment demand.
From ₹7,638 per 10 grams in 2005, gold prices have climbed to over ₹1,25,000 in 2025 (as of September).
City-wise Gold and Silver Prices (November 29)
Mumbai
24K gold: ₹1,27,350/10g | 22K gold: ₹1,16,738/10g
Silver bullion: ₹1,72,430/kg
Delhi
24K gold: ₹1,27,130/10g | 22K gold: ₹1,16,536/10g
Silver bullion: ₹1,72,130/kg
Kolkata
24K gold: ₹1,27,180/10g | 22K gold: ₹1,16,582/10g
Silver bullion: ₹1,72,200/kg
Ahmedabad
24K gold: ₹1,27,520/10g | 22K gold: ₹1,16,893/10g
Silver bullion: ₹1,72,660/kg
Bengaluru
24K gold: ₹1,27,450/10g | 22K gold: ₹1,16,921/10g
Silver bullion: ₹1,72,570/kg
Hyderabad
24K gold: ₹1,27,550/10g | 22K gold: ₹1,15,143/10g
Silver bullion: ₹1,72,700/kg
Chennai
24K gold: ₹1,27,720/10g | 22K gold: ₹1,17,077/10g
Silver bullion: ₹1,72,930/kg
Note: Retail rates may vary as jewellers apply making charges, taxes and GST. MCX gold reference rate: ₹1,26,920/10g across all cities.
