Gold prices in India surged on Friday, November 29, with 24K gold of 10 games surpassing the Rs 78,000 mark. Gold prices in major metro cities also rose accordingly. A similar trend was witnessed in silver prices as well. The domestic gold prices tracked an upside in international prices that took a boost from the softer dollar and heightened geopolitical uncertainties.

Gold Prices In India:

24K gold price of 100 grams jumped by Rs 7,600 to Rs 7,81,100, and that of 10 grams gold price was up by Rs 760 to Rs 78,110. Furthermore, 22K and 18k gold prices in 10 grams climbed by Rs 670 and Rs 570 to Rs 71,600 and Rs 58,580 respectively.

Gold Prices In Major Cities:

Gold Prices In Chennai: The price of gold in Chennai is currently at Rs 7,160 per gram for 22-karat gold and ₹ 7,811 per gram for 24-karat gold (also called 999 gold). Prices were higher in the city by up to Rs 7,600. 24K gold of 10 grams is at Rs 78,110, but in 18K price is at Rs 59,150.

Gold Prices In Mumbai: Currently, the price of gold in Mumbai is Rs 7,160 per gram for 22-karat gold and Rs 7,811 per gram for 24-karat gold (also called 999 gold). The price of 22k of 100 grams surged by Rs 6,700 to Rs 7,16,000, and was up by Rs 570 to Rs 58,580 for 10 grams of 18K.

Gold Prices In Delhi: In the national capital, gold prices surged by Rs 710 to Rs 71,760 in 22K/10 grams, while the price soared by Rs 760 and Rs 580 to Rs 78,260 and s 58,710 in 10 grams of 24k and 18k respectively.

Gold Prices In Kolkata:

Silver Prices In India:

1Kg silver prices in India climbed by Rs 2,000 to Rs 91,500, while silver prices in 100 grams and 10 grams jumped by Rs 200 and Rs 20 to Rs 9,150 and Rs 915 respectively. 8 grams of silver is up by Rs 16 to Rs 732 and further up by Rs 2 to Rs 91.50.

Silver prices in cities Chennai, Hyderabad, and Kerala touched Rs 1,00,000 in 1Kg.

MCX Gold, Silver Prices:

MCX gold with December 2024 expiry rose by Rs 667 or 0.9% to Rs 76,391 per 10 grams, at the time of writing. Additionally, MCX gold with February 2025 expiry surged by Rs 595 or 0.8% to Rs 77,151 per 10 grams.

Furthermore, MCX silver price with a December 2024 expiry, climbed by Rs 1,049 or 1.2% to trade at s 89,051 per 1 kg. MCX silver price with February 2025 expiry also soared by Rs 1,109 or 1.23% to trade at Rs 91,244 per 1kg.

Should You BUY Gold/Silver?

As per Nirmal Bang’s technical report on November 29, gold prices are expected to rise. Traders can buy at 75700 with a stop loss of 75450 for the target at 76000-76200.

For silver, the brokerage’s note said that silver prices are expected to rise. One can buy at 87800 with a stop loss of 87200 for the target at 88700-89300.

Why Gold Prices Are Up On November 29?

As per Trading Economics, gold rose to nearly $2,660 per ounce on Friday, gaining for the fourth straight session, supported by a softer US dollar and rising geopolitical tensions. Reports indicated that President Vladimir Putin warned of a potential new strike on Ukraine using a nuclear-capable ballistic missile, following Moscow’s recent large-scale attack on critical energy infrastructure.

However, Trading Economics data also added that the metal is set to decline by more than 2% for the week, as markets awaited further US data for additional insights into the Federal Reserve’s monetary policy outlook. Earlier this week, core PCE prices in October met expectations, keeping investors anticipating another Fed rate cut in December. Yet, other data pointed to a resilient economy, reinforcing expectations that the Fed will adopt a cautious approach next year. Over the month, gold is set to decline for the first time since June.