Gold Rate in India Up Rs 44,700/100 Gm In November So Far; Silver Shines Will Rally Continue? 28 Nov Outlook

Gold Rate in India: Gold prices witnessed a mild correction in the last trading session after a record rally in November so far. The price of 24 karat gold in India jumped around Rs 44,700/100 grams this month. Whereas silver prices continued their strong momentum.

The sharp reversal in the precious metals' trajectory has come as investor demand for safe-haven assets remains strong amid growing expectations of another US Federal Reserve rate cut in December. As we near the conclusion of the week, all focus will be on gold and silver prices in India on Friday, November 28.

Gold and silver prices in India are closely tracked not just by investors but also by retail jewellery buyers. With the ongoing wedding season, the demand for precious metals is likely to remain strong in the coming weeks.

Gold Rate in India

The price of 24 karat gold in India declined around Rs 16 per gram to Rs 12,775 per gram on Thursday, November 27. At the same time, the rate of 22 karat gold in India fell around Rs 15 per gram to Rs 11,710 per gram. Similarly, the price of 18 karat gold in India slid by Rs 12 per gram to Rs 9,581 per gram.

Silver Rate in India

The price of silver in India saw a mild recovery on Thursday. Silver rate in India increased to Rs 173 per gram and to Rs 1,73,000 per kilogram. Silver rate in India has increased significantly since the beginning of the year due to strong industrial demand and supply-side constraints.

Gold, Silver MCX

MCX Gold futures with December expiry closed at Rs 125540 per 10 gram on Thursday, November 27. Whereas, the MCX silver futures with December expiry closed at Rs 162300 per kilogram. The international gold rate on Thursday stood at $ 4,150 per ounce, as per Trading Economics.

Gold, Silver Price Outlook

The price of gold and silver are likely to remain stable on Friday, with the beginning of holiday season in the United States, which will impact the trading session. However, there could be some upward momentum in gold prices as the possibility of US Fed rate cut in December has increased.

" On the Indian charts, MCX Gold has formed a solid base near 121000-123000. As long as prices hold above this zone, dips are likely to be viewed as buying opportunities. On the upside, 128000-130000 is a heavy resistance band where supply could emerge. Some consolidation is healthy after a big rally, but structurally gold still looks like a portfolio hedge rather than a short-term trade going into 2026," said Dr. Ravi Singh, Chief Research Officer from Master Capital Services Ltd.

" Expectations of a Fed cut have increased due to weak U.S. economic data, making gold a more alluring hedge against inflation and currency risk. The current wedding season is boosting demand for jewelry domestically and encouraging purchases. Overall, gold has slightly increased, supporting its status as a reliable, long-term investment," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.