28 November,2025 12:33 PM IST | Mumbai | mid-day online correspondent
Representational Image. File Pic
Gold and silver prices on Friday too saw a decent inclination in the domestic futures market as strong spot demand and expectations of a US Federal Reserve rate cut lifted investor sentiment.
As reported by news agency IANS, MCX gold December futures during the early hours of Friday were trading 0.39 per cent higher at Rs 1,25,999 per 10 grams, while MCX silver December contracts were up 0.85 per cent at Rs 1,63,849 per kg.
However, the exchange prices did not make a significant difference in retail prices of the yellow metal. The price of 10 grams of 24-carat gold in Mumbai on Friday at 12 noon was recorded at Rs. 1,27,880, which is marginally lower than Thursday.
While expressing their views on MCX Gold, the market experts further asserted, "MCX Gold futures are now approaching a critical resistance zone between Rs 1,26,800 and Rs 1,27,500," as cited by news agency IANS.
"A decisive daily close above this band can trigger a fresh rally toward Rs 1,29,000- Rs 1,30,500 in the coming sessions," they added.
The ongoing wedding season across India has surely made the demand for the yellow metal quite significant. Despite the fact that gold remains one of the costliest metals for jewellery across the globe, people are mostly interested in buying it rather than any other metal. Talking about the prices, 10 grams of 24-carat gold in Mumbai on Thursday was recorded at Rs. 1,27,880. While 22 carats of gold was priced at Rs. 1,17,230 for 10 grams.
While the prices in Mumbai did experience a slight decline on Thursday, the national capital also recorded a slightly lower price for gold. The price for 10 grams of 24-carat gold in Delhi on Sunday was recorded at Rs 1,28,020. At the same time, the price of 22-carat gold was recorded at Rs. 1,17,370 for 10 grams.
Talking about the global factors affecting the gold prices, the recent economic data has increased expectations of a further possible rate cut in December.
Furthermore, the traders said that gold prices have been supported by healthy demand in the physical market during the ongoing wedding season, reported IANS.
(With inputs from IANS)
