Gold prices in India witnessed a substantial increase during Friday's trading session, driven by growing expectations of a Federal Reserve rate cut in December. The precious metal continued its impressive rally, adding to the remarkable gains recorded over the past two decades.
MCX Trading Session Highlights
The Multi Commodity Exchange saw gold futures for February 2026 expiry close at ₹1,29,599 per 10 grams, representing a significant jump of ₹1,932 or 1.51% from previous levels. Silver contracts followed the upward trend, with February futures rising by 0.16% to settle at ₹1,75,650 per kilogram.
According to data from India Bullions recorded at 6:20 am on November 30, the spot market showed 24-carat gold trading at ₹1,29,640 per 10 grams, while 22-carat gold was valued at ₹1,18,837 per 10 grams. Silver prices for the 999 fine variety stood at ₹1,75,000 per kilogram during the same period.
Twenty-Year Gold Performance Analysis
The yellow metal has demonstrated extraordinary growth over the past two decades, delivering impressive returns to investors. Historical data reveals that gold prices have skyrocketed by an astonishing 1,500% since 2005, climbing from ₹7,638 to exceeding ₹1,25,000 as of September 2025.
This remarkable journey saw positive annual returns in 16 out of the past 20 years, highlighting gold's consistent performance as a reliable investment asset. The current year has been particularly strong, with gold prices gaining 56% on a year-to-date basis, positioning the metal just ₹2,700 away from its record high.
City-Wise Gold and Silver Rates
Retail gold prices across major Indian cities showed variations in Sunday's trading. Consumers should note that final retail prices may include additional charges such as making charges, taxes, and GST components.
Major City Gold Rates (24-karat per 10 grams):
- Mumbai: ₹1,29,400
- Delhi: ₹1,29,180
- Kolkata: ₹1,29,230
- Ahmedabad: ₹1,29,570
- Bengaluru: ₹1,29,500
- Hyderabad: ₹1,29,610
- Chennai: ₹1,29,780
Silver bullion rates across these metropolitan centers ranged between ₹1,74,380 and ₹1,75,190 per kilogram, with MCX Silver 999 consistently priced at ₹1,75,340 per kg nationwide.
The current market sentiment remains bullish as investors continue to monitor Federal Reserve policy decisions and global economic indicators that influence precious metal valuations.
