22K & 24K Gold Price Today: Gold and silver prices moved higher in Friday’s futures trade as firm global cues and growing confidence around a possible US Federal Reserve rate cut next month boosted sentiment.
Gold Rate in Delhi todayfor 22k variant stood at Rs 11,790 per gram, while 24k gold touched Rs 12,861 per gram on Friday, reflecting a broader uptick driven by global momentum and shifting investor expectations.
On the Multi Commodity Exchange (MCX), gold futures for December delivery rose by Rs 596, or 0.47 per cent, reaching Rs 1,26,100 per 10 grams in a turnover of 4,496 lots.
The February contract too gained momentum, climbing Rs 669 (0.52 per cent) to Rs 1,28,336 per 10 grams across 10,370 lots.
Silver mirrored the rally. The December contract surged Rs 1,183 (0.73 per cent) to Rs 1,63,650 per kg, while the March 2026 contract jumped Rs 1,373 (0.83 per cent) to Rs 1,67,360 per kg in a sizeable turnover of 15,578 lots.
Rahul Kalantri, Vice-President (Commodities), Mehta Equities Ltd, said domestic markets traded mixed on Thursday due to the US Thanksgiving holiday muting international cues. However, Friday’s trade showed renewed strength as global demand picked up.
Gold Rates Across Major Cities In India On Nov 28
| City | 22k Gold Per Gram | 24k Gold Per Gram |
| Delhi | 11,790 | 12,861 |
| Chennai | 11,840 | 12,916 |
| Bangalore | 11,775 | 12,846 |
| Mumbai | 11,775 | 12,846 |
| Pune | 11,775 | 12,846 |
| Kolkata | 11,775 | 12,846 |
| Hyderabad | 11,775 | 12,846 |
| Ahmedabad | 11,780 | 12,851 |
| Indore | 11,780 | 12,851 |
| Lucknow | 11,790 | 12,861 |
Global Markets Push Gold Toward Lifetime Highs
In international markets, Comex gold futures for December delivery climbed $22.2 (0.53 per cent) to $4,187.4 per ounce. Silver continued outperforming, rising 1.71 per cent to $53.82 an ounce, hitting an intraday high of $54.23.
Kalantri noted that gold in the Asian session edged close to $4,190, while silver advanced further above $54, approaching fresh lifetime peaks.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, said gold is now hovering near a five-week high, supported by heightened expectations of a December Fed rate cut. A series of comments from Fed officials signalling openness to easing monetary policy, along with softer economic data, have strengthened these expectations.
Gold Eyes Best Year Since 1979
Market participants now assign over an 80 per cent probability to a 25-basis-point rate cut next month, a significant jump from just 30 per cent a week earlier. Investors are also factoring in three more cuts by end-2026.
Kevin Hassett, widely seen as a leading contender to succeed Fed Chair Jerome Powell, has echoed President Donald Trump’s call for a rate reduction, further anchoring expectations.
Trivedi added that gold is on track for its strongest annual performance since 1979, buoyed by aggressive central-bank buying and steady demand from non-sovereign investors through gold ETFs.
Why Gold Prices Move The Way They Do
Gold prices in Indiaare primarily shaped by:
International bullion rates
Import duties and domestic taxes
Exchange rate fluctuations, especially the rupee-dollar movement
Given India’s heavy dependence on imports, even minor changes in the rupee can directly influence domestic rates. Beyond economics, gold retains deep cultural and emotional significance in India. From weddings to festivals, the metal is embedded in tradition, and remains one of the most preferred investment avenues.
With global markets shifting rapidly and expectations around monetary policy evolving, traders and investors continue to track price movements closely. Staying informed has become essential for anyone navigating the dynamic gold landscape.
