Gold prices in India witnessed a significant upswing during Friday's trading session, closing higher in the domestic futures market as investors anticipated a potential Federal Reserve rate cut next month. The precious metal's rally reflects growing optimism among market participants about favorable monetary policy changes.
Market Performance and Key Figures
MCX Gold December futures concluded Friday's session with a notable 1.13% increase, settling at ₹1,26,920 per 10 grams when trading ended at 11:58 pm on November 28. The silver market also demonstrated positive momentum, with MCX Silver March contracts registering a 0.21% gain to close at ₹1,75,340 per kilogram.
Early morning trading on Saturday, November 29, showed 24-carat gold trading at ₹1,27,580 per 10 grams at 6:55 am, while 22-carat gold was available at ₹1,16,948 per 10 grams. Silver prices, specifically the Silver 999 Fine variety, stood at ₹1,72,740 per kilogram, according to data released by India Bullions.
Historic Gold Performance Over Two Decades
The yellow metal has demonstrated remarkable growth over the past twenty years, soaring by an impressive 1,500% since 2005. This extraordinary journey saw gold prices climb from ₹7,638 in 2005 to exceeding ₹1,25,000 by September 2025. This substantial appreciation represents one of the most consistent performing assets in recent memory.
Market analysts highlight that gold delivered positive returns in 16 out of the last 20 years, establishing its reputation as a reliable store of value. The current year has been particularly strong for gold investors, with prices gaining 56% on a year-to-date basis, positioning the metal for its best annual performance in 46 years.
City-Wise Gold and Silver Rates
Saturday's retail gold prices varied across major Indian cities, with consumers facing different rates depending on their location. Here are the key rates for November 29:
Mumbai: 24 karat gold at ₹1,27,350/10 gm, 22 karat at ₹1,16,738/10 gm
Delhi: 24 karat gold at ₹1,27,130/10 gm, 22 karat at ₹1,16,536/10 gm
Kolkata: 24 karat gold at ₹1,27,180/10 gm, 22 karat at ₹1,16,582/10 gm
Ahmedabad: 24 karat gold at ₹1,27,520/10 gm, 22 karat at ₹1,16,893/10 gm
Bengaluru: 24 karat gold at ₹1,27,450/10 gm, 22 karat at ₹1,16,921/10 gm
Hyderabad: 24 karat gold at ₹1,27,550/10 gm, 22 karat at ₹1,15,143/10 gm
Chennai: 24 karat gold at ₹1,27,720/10 gm, 22 karat at ₹1,17,077/10 gm
Potential buyers should note that actual retail prices may exceed these rates as jewellers typically include making charges, applicable taxes, and GST in the final bill. The variation in prices across cities reflects local market dynamics, transportation costs, and regional demand patterns.
The current bullish trend in gold markets appears closely tied to global economic indicators and monetary policy expectations. With the Federal Reserve considering interest rate reductions, investors are increasingly turning to gold as a hedge against potential currency fluctuations and economic uncertainty.
