Gold Prices Hold Steady Across India as Silver Rebounds, Check Latest 18K to 24K Rates

Domestic gold prices remained unchanged on Sunday, November 15, with 24-carat trading at Rs 1,37,620 per 10 grams, while silver surged to Rs 1,95,000 per kg amid global macro crosscurrents and MCX futures movements.

Gold prices across Indian retail counters held perfectly steady on Sunday, November 15, showing no movement across purities as buyers, jewellers, and market participants paused to evaluate the next directional cue for the precious metal. Following a phase of sustained consolidation, 24-carat pure gold stayed pegged at Rs 1,37,620 per 10 grams. Standard 22-carat gold, which constitutes the bulk of consumer jewellery purchases across the country, stood unchanged at Rs 1,26,150 per 10 grams. Similarly, the entry-level 18-carat gold variant witnessed no price adjustments and retailed at Rs 1,03,220 per 10 grams. In stark contrast to the quiet gold market, silver staged a strong rebound after a flat spell, rising to retail at Rs 1,95,000 per kilogram.

Retail Domestic Rates Across Purities
The stability in Sunday retail pricing offers temporary predictability for consumers planning purchases for the ongoing wedding and festive season. In larger quantities, 100 grams of 24-carat gold commanded an unchanged price of Rs 13,76,200. The standard 22-carat gold priced out at Rs 12,61,500 per 100 grams. Meanwhile, the budget-friendly 18-carat grade was quoted at Rs 10,32,200 per 100 grams across local retail outlets.

Silver, on the other hand, broke away from its recent period of stagnation with a notable advance. The white metal stood at Rs 1,95,000 per kilogram in the domestic physical market. Buyers looking for smaller quantities found 100 grams of silver trading at Rs 19,500. A convergence of industrial demand and renewed physical backing helped silver outpace gold after several sessions of muted performance.

Global Macro Drivers and International Bullion
The calm observed across retail jewellery shops in India masks a deeply conflicted international market environment. Spot gold settled virtually flat around $3,880 an ounce, remaining in the vicinity of levels last recorded in September 2025. Bullion prices faced headwinds as a robust US dollar and elevated Treasury yields bolstered expectations of tighter policy action from the Federal Reserve. Rising bond yields typically raise the opportunity cost of holding non-yielding assets such as gold, capping potential rallies.

Simultaneously, geopolitical developments added an inflationary counterweight to the market. Diminishing prospects for a diplomatic resolution in the Middle East drove crude oil prices higher, keeping systemic inflation concerns in sharp focus. Economic indicators released during the week presented a nuanced picture. US consumer price index figures for October showed an increase of 0.4%, slightly outpacing broader market expectations. On the other hand, producer price inflation moderated more than expected to 0.3%, though the previous reading for September was revised upward. This tug-of-war between sticky inflation and expectations of aggressive monetary tightening has kept international gold locked within a narrow band.

MCX Futures Action and Technical Outlook
Trading on the Multi Commodity Exchange closed on Friday with marginal gains for both metals prior to the weekend pause. The December gold futures contract, which matures on December 4, registered an increase of 0.39% to settle at Rs 1,36,750. Similarly, the December silver futures contract, also scheduled to expire on December 4, ended Friday with a modest gain of 0.13% to finish at Rs 1,76,543.

Technical market analysis points to specific pivot zones in the near term. According to the research outlook published by ICICI Direct Research on November 13, MCX December gold faces stiff overhead resistance near the Rs 1,39,000 mark. A failure to clear this barrier could trigger a downward move toward the Rs 1,35,000 support level. For silver, the report outlined a wider trading corridor, projecting MCX December silver to oscillate between Rs 1,75,000 and Rs 1,84,000. Analysts noted that only a decisive break below Rs 1,75,000 would open the gates for a deeper decline toward Rs 1,72,000. Until these boundary levels are breached, both precious metals are anticipated to remain rangebound.

What this means for you
Steady gold rates alongside rebounding silver directly influence retail jewellery buyers and domestic commodity investors.

• For Jewellery Shoppers: Unchanged 22-carat gold at Rs 1,26,150 per 10 grams provides temporary price certainty for wedding season purchases. Consumers can lock in their budgets without the threat of immediate intraday spikes.
• For Silver Buyers: The climb to Rs 1,95,000 per kilogram raises acquisition costs for silverware and physical metal accumulators. A 100-gram purchase now requires an outlay of Rs 19,500 at physical counters.
• For Futures Traders: MCX December gold is confined between resistance at Rs 1,39,000 and support near Rs 1,35,000. Market participants should maintain defined stop-losses and avoid aggressive directional bets until technical boundaries break.
• For Asset Allocators: Firm Treasury yields and a strong US dollar are tempering bullion gains despite geopolitical friction. Staggering allocations across dips remains a prudent approach rather than committing capital in single lump sums.

Why this happened
A combination of macroeconomic signals, monetary expectations, and geopolitical developments shaped the current price action across precious metals.

• Currency and Yield Pressures: A strengthening US dollar paired with climbing Treasury yields restricted upward momentum for spot gold. Higher bond yields raise the opportunity cost of holding non-yielding assets, keeping bullion in check.
• Hawkish Monetary Expectations: October US consumer prices rose by 0.4%, surpassing consensus projections. The data heightened concerns that the Federal Reserve may pursue more aggressive monetary tightening, which dampens non-yielding commodity demand.
• Energy and Geopolitical Underpinnings: Fading optimism surrounding peace initiatives in the Middle East pushed crude oil prices upward. Looming energy-driven inflation provided a structural floor for safe-haven assets, balancing out the pressure from the strong dollar.
• Silver Rebound Dynamics: Following an extended spell of stagnant trading, physical demand and technical buying pushed domestic silver higher from its lower consolidation band.

Questions & Answers

1. What was the price of 24-carat gold on November 15?
On November 15, 24-carat gold held steady at Rs 1,37,620 per 10 grams and Rs 13,76,200 per 100 grams.

2. What are the latest rates for 22-carat and 18-carat gold?
Standard 22-carat gold traded at Rs 1,26,150 per 10 grams, while 18-carat gold stood at Rs 1,03,220 per 10 grams.

3. What was the retail price of silver in India?
Silver surged to Rs 1,95,000 per kilogram and Rs 19,500 per 100 grams after a flat spell.

4. Where did MCX gold and silver December futures settle on Friday?
MCX December gold futures closed at Rs 1,36,750, while December silver futures settled at Rs 1,76,543.

5. What are the key technical levels outlined by ICICI Direct Research?
The report indicates resistance for MCX December gold near Rs 1,39,000 with downside potential toward Rs 1,35,000, while silver is projected to trade between Rs 1,75,000 and Rs 1,84,000.

6. Where is spot gold trading in the international market?
International spot gold traded largely unchanged around $3,880 an ounce.

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