Gold prices continued their upward trajectory during early trading hours on November 26, building on solid gains of over 1% from the previous session. The rally was fueled by robust spot market demand and growing expectations of a US Federal Reserve rate cut in the coming months.
Market Performance and Key Levels
At approximately 10:50 am on Wednesday, MCX Gold December futures registered a 0.58% increase to ₹1,25,953 per 10 grams. Simultaneously, MCX Silver December contracts demonstrated even stronger performance, climbing 1.21% to ₹1,58,219 per kg.
According to India Bullions data tracked at 10:54 am, 24-carat gold was trading at ₹1,26,690 per 10 grams, while 22-carat gold stood at ₹1,16,133 per 10 grams. Silver prices (999 Fine) reached ₹1,58,950 per kilogram during the same period.
Historical Perspective: Gold's Remarkable Journey
The yellow metal has delivered exceptional returns over the past two decades. Gold prices have soared by an impressive 1,200% over the last 20 years, climbing from ₹7,638 in 2005 to over ₹1,25,000 in 2025 (as of September data).
This remarkable growth story becomes even more compelling when considering that gold has delivered positive returns in 16 out of the last 20 years. On a year-to-date basis, gold prices have gained an impressive 56%, highlighting its continued appeal among Indian investors.
City-Wise Gold and Silver Rates
Here's a comprehensive look at precious metal prices across major Indian cities as of November 26:
Mumbai: 24K gold at ₹1,26,460/10gm, 22K gold at ₹1,15,922/10gm, MCX Gold at ₹1,26,060/10gm, Silver at ₹1,58,660/kg
Pune: 24K gold at ₹1,26,370/10gm, 22K gold at ₹1,15,839/10gm, MCX Gold at ₹1,25,974/10gm, Silver at ₹1,58,730/kg
New Delhi: 24K gold at ₹1,26,150/10gm, 22K gold at ₹1,15,638/10gm, MCX Gold at ₹1,25,974/10gm, Silver at ₹1,58,460/kg
Kolkata: 24K gold at ₹1,26,200/10gm, 22K gold at ₹1,15,683/10gm, MCX Gold at ₹1,25,974/10gm, Silver at ₹1,58,520/kg
Ahmedabad: 24K gold at ₹1,26,540/10gm, 22K gold at ₹1,15,995/10gm, MCX Gold at ₹1,25,974/10gm, Silver at ₹1,58,940/kg
Bengaluru: 24K gold at ₹1,26,510/10gm, 22K gold at ₹1,15,968/10gm, MCX Gold at ₹1,26,019/10gm, Silver at ₹1,58,850/kg
Hyderabad: 24K gold at ₹1,26,610/10gm, 22K gold at ₹1,16,059/10gm, MCX Gold at ₹1,26,019/10gm, Silver at ₹1,58,970/kg
Chennai: 24K gold at ₹1,26,780/10gm, 22K gold at ₹1,16,215/10gm, MCX Gold at ₹1,26,019/10gm, Silver at ₹1,59,180/kg
Important Considerations for Buyers
Retail customers should note that the prices mentioned above are base rates. Jewellers typically add making charges, applicable taxes, and GST to the final bill, which can significantly increase the total purchase price. Investors are advised to factor in these additional costs when planning their precious metal acquisitions.
The current bullish trend in gold and silver markets reflects a combination of domestic demand factors and international monetary policy expectations. As the US Fed signals potential rate cuts, precious metals are likely to maintain their appeal as safe-haven assets among Indian investors seeking portfolio diversification and inflation protection.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
