Gold Prices Witness Significant Surge on MCX
Gold prices experienced a substantial upward movement on Tuesday, November 11, with the precious metal climbing nearly 1% on the Multi Commodity Exchange (MCX). This impressive rally was driven by robust spot demand and encouraging global market indicators that boosted investor confidence in the yellow metal.
MCX Gold December futures contracts advanced by 0.94% to reach ₹1,25,131 per 10 grams at 10:15 am during the trading session. The silver market mirrored this positive trend, with December silver contracts climbing 1.16% to settle at ₹1,55,475 per kilogram.
Detailed Price Analysis Across Major Cities
According to comprehensive data from India Bullions, the spot market reflected similar strength in gold valuations. The price of 24-carat gold stood at ₹1,25,570 per 10 grams, while 22-carat gold traded at ₹1,15,106 per 10 grams during the same period. Silver prices maintained their momentum with the 999 Fine variety quoted at ₹1,56,050 per kilogram.
The price distribution across major Indian cities showed slight variations due to local market dynamics:
- Mumbai: 24K gold at ₹1,25,370, 22K gold at ₹1,14,923
- Delhi: 24K gold at ₹1,25,230, 22K gold at ₹1,14,794
- Kolkata: 24K gold at ₹1,25,170, 22K gold at ₹1,14,739
- Ahmedabad: 24K gold at ₹1,25,500, 22K gold at ₹1,15,042
- Bengaluru: 24K gold at ₹1,25,450, 22K gold at ₹1,14,996
- Hyderabad: 24K gold at ₹1,25,390, 22K gold at ₹1,14,941
- Chennai: 24K gold at ₹1,25,600, 22K gold at ₹1,15,133
Remarkable Long-Term Growth Trajectory
The historical performance of gold reveals an extraordinary investment story. Gold prices have skyrocketed by an impressive 1,200% over the past two decades, climbing from a modest ₹7,638 in 2005 to exceeding ₹1,25,000 in 2025 (as recorded in September). This remarkable journey includes positive annual returns in 16 out of the 20 years, demonstrating the metal's consistent value appreciation.
The current year has been particularly strong for gold investors, with prices registering a substantial 56% gain on a year-to-date (YTD) basis. This performance underscores gold's role as a reliable hedge against economic uncertainty and inflation pressures.
Prospective buyers should note that the final retail price may include additional charges such as making charges, applicable taxes, and GST components that jewellers typically add to the base price. These supplementary costs can significantly impact the final amount payable by retail customers.
Disclaimer: This educational content presents views of individual analysts and not Mint. Investors should consult certified experts before making investment decisions.
