Gold Rates In India CRUSHED; 100 Grams Gold Fall Rs 17,400 Before Wedding Season; 24K, 22K, 18K Gold Prices

Gold rates in India crashed massively on November 18, due to intense selling in international precious metals. Market sentiment has soured and MCX is struggling to breath over Rs 1.21 lakh mark. Meanwhile, 24 carat gold rate nosedived by Rs 17,400 in 100 grams and Rs 1,740 in 10 grams. Also, silver rates in India dropped by Rs 5,000 per 1KG. The volatility is expected to continue as expectation of a December 2025 policy rate cut from US Federal Reserves is dimming.

The Fed's November policy minutes of meeting on Wednesday and US job report on Thursday, will likely set the trend for precious metals ahead.

Gold Rates In India:

24 Carat Gold Prices:

10 grams gold price plummeted by Rs 1,740 to Rs 1,23,600, while 100 grams gold nosedived by Rs 17,400 to Rs 12,36,600. In the lower grams, gold price stood at Rs 98,928 per 8 grams which is down by Rs 1,392, and at Rs 12,366 per 1 gram which inched lower by Rs 174.

24 carat has 100% pure gold.

22 Carat Gold Prices:

22 carat gold has a purity of 91.67% with rest of 8.33% including metal alloys. Under this carat, 10 grams gold price plunged by Rs 1,600 to Rs 1,13,350, while 100 grams gold price dropped by Rs 11,33,500. Furthermore, 8 grams gold price tumbled by Rs 1,280 to Rs 90,680 and 1 gram gold is down by Rs 160 to Rs 11,335.

18 Carat Gold Prices:

The 18 carat gold in India is 75% pure and 25% other alloys. The price of 18 carat gold is at Rs 92,740 per 10 grams, down by Rs 1,310. Also, 100 grams gold price dipped by Rs 13,100 to Rs 9,27,400, 8 grams gold tumbled by Rs 1,048 to Rs 74,192 and 1 gram gold is down by Rs 131 to Rs 9,274.

According to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), demand for gold is still adjusting ahead of peak wedding season, even though global cues are staying constant. Given that the overall outlook for gold remains stable, investors may want to take advantage of this slight correction to enter the market gradually.

Silver Rates In India:

Silver prices in India also saw significant decline on November 18. 1Kg silver price is at Rs 1,62,000, lower by Rs 5,000. Furthermore, 100 grams and 10 grams silver is at Rs 16,200 and Rs 1,620. The cheapest silver is at Rs 162 per 1 gram.

In Kamboj's view, as traders respond to changing global cues and uneven physical demand, there is a slight decline from the previous price. Even though the medium-term outlook for silver is still positive, buyers have a short window of opportunity to profit from lower levels during this correction.

Gold & Silver Rates Outlook:

According to Rahul Kalantri, VP Commodities, Mehta Equities, gold and silver extended losses for the fourth straight session as expectations of a December US rate cut continued to diminish. With no major positive fundamental triggers in recent days, bulls remain hesitant-especially with both metals still trading at historically high levels.

The expert revealed that traders now await a fresh round of US economic data later this week. Meanwhile, a firmer US Dollar Index and slightly higher 10-year Treasury yields added pressure to precious metals.

Looking ahead, Kalantri said, "Gold has support at $4000-3965 while resistance at $4075-4110. Silver has support at $49.70-49.45 while resistance is at $50.75-51.10. In INR gold has support at Rs1,22,350-1,21,780 while resistance at Rs1,23,750-1,24,500. Silver has support at Rs1,53,850-1,52,100 while resistance at Rs1,56,540, 1,57,280."

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