Gold Rate in India Takes Breather! Prices Drop After BIG 2-Day Rally; Another Jump Coming? 13 November Outlook

Gold Rate in India: The prices of 24K, 22K and 18K gold took a sharp U-turn on Wednesday, putting an end to their big two-day rally. The 24-karat gold rate in India jumped around Rs 3,820 per 10 grams in two days. However, the precious metal failed to retain the momentum and saw some price correction on the third day. In contrast, silver prices continued their upward climb. With renewed hopes of a US government shutdown resolution, investors are now closely tracking gold and silver price trends on Thursday, November 14.

Gold rate in India witnessed a steep correction over the past two to three weeks. Earlier, gold prices continued their stupendous rally, as the prices surged around 70% from its levels recorded in the beginning of 2025.

Gold Rate in India

The price of 24 karat gold in India declined around Rs 33 per gram to Rs 12,551 per gram on Wednesday, November 12. The rate of 22 karat gold in India slipped by Rs 30 per gram to Rs 11,505 per gram. Likewise, the price of 18 karat gold in India fell around 25 per gram to Rs 9,413 per gram. Despite the decline gold continues to remain close to their elevated level. There has been nearly 60% rise in prices of gold in India since the beginning of the year because of its safe-haven rally fuelled by geopolitical uncertainty and stock market volatility.

Silver Rate in India

The price of silver in India continued to rise for the third straight session on Wednesday. Silver rate in India increased to Rs 162 per gram and to Rs 1,62,000 per kilogram. Silver prices in India have surged significantly since the beginning of the year 2025 due to strong industrial demand and supply-side issues.

Gold, Silver MCX Rate

Gold futures with December expiry had touched an intraday high of Rs 1,26,699 per 10 gram on Wednesday. Whereas, Silver futures with December expiry had touched an intraday high mark of Rs 1,62,654 per kilogram. The international gold prices in India have increased to $4,130 per ounce on Wednesday, as per Trading Economics.

Gold, Silver Outlook

Gold rate in India is likely to remain volatile and move in the upward direction, given the last session's performance. Update on the US shutdown can impact the sentiment around gold and silver. In the long run, gold and silver may rally.

"Domestic gold prices typically follow international trends but are further influenced by the INR exchange rate and local demand. A stable or slightly weaker rupee will further add weight to any rise in international gold prices," explained Ross Maxwell, Global Strategy Lead at VT Markets.

"With India entering a high-demand period with the wedding and festive season, domestic sentiment is likely to remain solid. Therefore, in the short term, the outlook for Indian gold prices remains bullish. If global gold remains strong and the rupee stays under some pressure, prices could continue to see gradual gains, reflecting both international support and domestic demand strength," Maxwell added.

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