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Gold & Silver Rates Today (12-11-2026) LIVE: MCX Gold Below Rs 1.39 Lakh, Silver Falls Rs 2,300 Amid Weak Cues

Gold rates and silver rates in India dropped sharply after spot gold fell below the $4,000 mark on November 12, 2026. MCX gold price dipped below Rs 1.39 lakh per 10 grams mark with nearly 1% decline. Meanwhile, MCX silver plunged by more than 1% to struggle around Rs 1,82,200 lakh per 1 Kg mark.

In the early hours of Thursday, spot gold slipped by 1% to trade below $4,000 and spot silver traded below $52 per ounce.

The performance emerges as crude oil prices gain momentum. US WTI crude oil futures traded above $86.4 per barrel, and Brent crude gained more than 1% to trade near $93 per barrel.

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Among major factors to drag bullion is the US dollar that rose to its highest level since April 2025 to 102.9 due to hotter-than-expected US CPI inflation.

A modest rebound in oil prices following their recent decline to 10-week lows also added to inflationary concerns. US consumer prices rose 0.4% in October, above expectations of 0.3%, prompting traders to raise the probability of a December Fed rate hike to 100%, from 84% before the release, according to the CME FedWatch Tool. Expectations of a larger, 50-basis-point increase also gained traction. Meanwhile, Fed Governor Christopher Waller suggested that persistent core inflation could warrant a half-point hike as early as December, while other policymakers, including Anna Paulson and Michelle Bowman, maintained a hawkish tone, reinforcing expectations of further monetary tightening and adding pressure on non-yielding gold, as per Trading Economics.

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