Gold Rate in India Sees Sharp Jump, Silver Shines Too; Will 24, 22, 18K Gold Prices Rise? 29 Nov Outlook

Gold Rate in India: The sharp rally in gold and silver prices continued to fuel the prices of precious metals close to their record high mark. The sharp surge in 24 karat, 22 karat and 18 karat gold in India has brought a major setback for retail jewellery buyers amid the ongoing wedding season.

The sharp gold and silver prices rally has come against the backdrop of their rising international prices supported by heightened United States Federal Reserve rate cut. As we near the conclusion of the week, gold and silver price movement will remain in focus on Saturday, November 29.

Gold Rate in India

The price of 24 karat gold in India increased by Rs 71 per gram to Rs 12,846 per gram on Friday, November 28.. Whereas, the rate of 22 karat gold in India jumped from around Rs 65 per gram to Rs 11,775 per gram. Likewise, the price of 18 karat gold in India surged around Rs 53 per gram to Rs 9,634 per gram.

Silver Rate in India

The price of silver in India has increased significantly since the beginning of the year. Silver rate in India increased to Rs 176 per gram and to Rs 1,76,000 per kilogram. Silver prices are closely tracked by investors and retail jewellery buyers because of their strong demand and attractive valuations.

Gold, Silver Price Outlook

The price of gold in India is likely to remain stable on Saturday, November 29, as commodities trading will remain shut today due to weekend. However, the prices of gold and silver may see some correction after strong jump in past three trading sessions.

"Given the stability seen currently in the foreign exchange market, it appears that Gold is providing both stability & a sense of security & therefore, gold would be a great choice for an investor interested in investing long-term instead of solely for immediate or short-term returns," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

"The pace of returns may slow after such a strong run, but the trend itself doesn't look broken yet. 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," explained Dr. Ravi Singh, Chief Research Officer from Master Capital Services Ltd.