Gold prices in India concluded the trading session on a stable note this Friday, showing minimal movement as investors worldwide adopted a cautious stance. The market is in a holding pattern, eagerly anticipating the upcoming policy announcement from the US Federal Reserve scheduled for December.
Market Snapshot and Key Figures
On the Multi Commodity Exchange (MCX), the December futures contract for gold officially closed at ₹1,24,195 per 10 grams as of Friday, November 21. In the same sector, silver contracts for December experienced a slight dip, declining by 0.06% to settle at ₹1,54,052 per kilogram.
According to live data provided by India Bullions, the early morning rates for Sunday, November 23, placed the price of 24-carat gold at ₹1,24,780 per 10 grams. The more commonly purchased 22-carat gold was valued at ₹1,14,382 per 10 grams. For silver, the price was recorded at ₹1,54,780 per kilogram for the 999 fine variety.
Analyzing the Gold Price Trend
The current stability in gold prices follows a period of significant volatility. Just last month, in October 2025, MCX gold had soared to an unprecedented all-time high of ₹1,32,294 per 10 grams. From that peak, the precious metal has since undergone a correction, falling by ₹8,099 per 10 grams to reach its current level.
Taking a long-term view reveals gold's impressive performance as a wealth-preserving asset. Over the past two decades, gold prices have witnessed an astronomical surge of approximately 1,200%. An investment of ₹7,638 in 2005 would be worth over ₹1,25,000 in 2025 (data as of September). This growth has not been erratic; the asset has delivered positive annual returns in 16 out of the last 20 years. Furthermore, on a year-to-date (YTD) basis, gold has already registered a substantial gain of 56%.
City-Wise Gold and Silver Prices for Sunday
For retail buyers planning purchases this wedding season, here is a detailed breakdown of Sunday's gold and silver rates across major Indian cities. It is crucial for consumers to remember that the prices listed below are base rates. The final bill from a jeweller will likely include additional costs such as making charges, applicable taxes, and GST, which will increase the total payable amount.
Gold Prices in Major Cities (per 10 grams):
- Mumbai: 24K - ₹1,24,550 | 22K - ₹1,14,171
- Delhi: 24K - ₹1,24,340 | 22K - ₹1,13,978
- Kolkata: 24K - ₹1,24,390 | 22K - ₹1,14,024
- Ahmedabad: 24K - ₹1,24,720 | 22K - ₹1,14,327
- Bengaluru: 24K - ₹1,24,650 | 22K - ₹1,14,263
- Hyderabad: 24K - ₹1,24,750 | 22K - ₹1,14,354
- Chennai: 24K - ₹1,24,920 | 22K - ₹1,14,510
Source: India Bullions
The local bullion rates for silver also showed minor variations. In Mumbai, silver was priced at ₹1,54,500/kg, while in Chennai, it was higher at ₹1,54,950/kg. The benchmark MCX Silver 999 rate, however, remained consistent at ₹1,54,052 per kilogram across all cities.
Investors and buyers are advised to stay informed with the latest analysis and consult with certified experts before making any significant investment decisions in the precious metals market.
