Gold Rates In India Jumps On Nov-28; 100 Grams Gold Up Rs 7,100, Silver Up Too; Know 24K, 22K, 18K Gold Prices

Gold rates in India recorded a sharp jump on Friday, November 28, on heightened expectation of rate cut from US Federal Reserves in the December policy. At present, the 100-gram and 10-gram gold price climbed by Rs 7,100 and Rs 710 in 24 carat, compared to a deep decline yesterday. Tracking the trend, silver rates in India also surged by Rs 3,000 per 1 kg. Another key driving factor for precious metals is the downside in US dollar which is currently at a 1-week low. Going ahead, the latest performance of bullion indicates volatility expansion is approaching rapidly.

Gold Rates In India:

24 Carat Gold Prices:

24 carat is 100% pure gold. 10 grams gold price surged by Rs 710 on November 28 to Rs 1,28,460, while 100 grams climbed by Rs 7,100 to Rs 12,84,600. Furthermore, in smaller grams, gold advanced by Rs 568 to Rs 1,02,768 and 1 gram is up by Rs 71 to Rs 12,846.

22 Carat Gold Prices:

In case of 22 carat gold which is 91.67% pure gold and 8.33% alloys, is up by Rs 650 to Rs 1,17,750 per 10 grams. The price of 100 grams gold soared by Rs 6,500 to Rs 11,77,500, while 8 grams gold is higher by Rs 520 to Rs 94,200. The cheapest 22 carat is of Rs 11,775 per 1 gram which inched up by Rs 65.

18 Carat Gold Prices:

Under 18 carat, the purity of gold is 75%. Here, 10 grams gold jumped by Rs 530 to Rs 96,340, and 100 grams gold price shoots up by Rs 5,300 to Rs 9,63,400. Also, 8 grams gold jumped by Rs 424 to Rs 77,072, and the lowest 1 gram is at Rs 9,634 which edged higher by Rs 53.

What Is Impacting Gold Prices?

As per Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions, gold has given a breakout of its range of support $4000 (~Rs 121,000) and resistance $4200 (~Rs 126,000), which it was trading from past few days. 10-year US Treasury yields have decreased 3.5% during the past four days, coming back to 4.00% level, amid heightened rate cut expectations.

Will Fed Cut Rates In December?

In Kothari's view, US macro data revealed indications of declining inflation and increased the Federal Reserve's leeway to further lower interest rates. Consequently, this situation helps the precious metals to trade higher and push the US dollar to a one-week low. The likelihood that the Fed would lower interest rates by 25 basis points to 3.50%-3.75% at the December meeting has risen to 85.3% from 50.1% a week ago, according to the CME FedWatch tool.

Silver Rates In India:

Silver prices saw healthy surge. 1Kg silver skyrocketed by Rs 3,000 to Rs 1,76,000, while 100 grams and 10 grams silver jumped by Rs 300 and Rs 300 and Rs 30 to Rs 17,600 and Rs 1,760 respectively. The cheapest silver is priced at Rs 176 per 1 gram.

Gold & Silver Prices Outlook:

"Gold in the Asian session inched toward $4,190 per ounce, while silver continued its upward march above $54, approaching fresh lifetime highs in the international market," said Rahul Kalantri, VP Commodities, Mehta Equities.

Further, Kalantri explained that in the domestic market, both metals traded steady and ended Thursday on a mixed note due to the U.S. Thanksgiving holiday keeping global cues limited. Precious metals rose as confidence strengthened around a potential December Fed rate cut, supported by dovish remarks from Federal Reserve officials and softer economic indicators.

Looking ahead, he added, speculation increased further as Kevin Hassett, considered a leading candidate to succeed Jerome Powell, aligned with President Trump's push for a rate reduction. However, optimism surrounding the U.S.-led Russia-Ukraine peace efforts capped further upside. Gold has support at $4130-4095 while resistance at $4205-4235. Silver has support at $53.10-52.75 while resistance is at $53.95-54.40. In INR gold has support at Rs1,25,050-1,24,380 while resistance at Rs1,26,550-1,27,100. Silver has support at Rs1,61,250-1,59,900 while resistance at Rs1,63,410, 1,64,300.

MCX Gold Price + MCX Silver Price

At the time of writing, MCX gold price with February 2026 expiry, surged by Rs 713 or 0.6% to trade at Rs 1,28,380 per 10 grams. The bullion is near its intraday high of Rs 1,28,450 per 10 grams.

Meanwhile, MCX gold with December expiry soared by Rs 619 or 0.5% to trade at Rs 1,26,123 per 10 grams, also near its day's high.

Additionally, MCX silver price with December 2025 expiry, traded at Rs 1,64,497 per 1Kg, up by Rs 2,030 or 1.25%. Silver rate with February 2026 expiry, climbed by Rs 2,269 or 1.4%.

As per Axis Securities, Comex Gold extended its gains in the last session, closing above $4,160 and hovering near a two-week high. The near-term trend remains constructive as rising expectations of a Fed rate cut continue to support bullion. A breakout above the downward-sloping trendline adds to the bullish setup. As long as prices hold above $4,150, an advance toward $4,240 appears likely.