Mumbai, (Daily Kiran) The Indian market is witnessing strong support for Gold and Silver Prices due to ongoing purchases during festivals, weddings, and continuous jewellery buying. Additionally, central banks worldwide are continuously purchasing gold, keeping the long-term outlook positive for gold. According to market experts, gold prices may strengthen this week and approach record levels once again.
Analysts say that investors are currently focused on important Economic Data from America, Federal Reserve Chairman Jerome Powell’s speech, and the Reserve Bank of India’s Monetary Policy Meeting. These factors could directly impact the movement of gold and silver prices.
Gold Rose ₹3,445 Last Week
According to the India Bullion and Jewellers Association (IBJA), 10 grams of gold was priced at ₹1,23,146 on November 21, which increased by ₹3,445 to ₹1,26,591 per 10 grams by November 28. Earlier, on October 17, gold had reached an All Time High of ₹1,30,874 per 10 grams.
Silver Jumped ₹13,230 in One Week
Silver also witnessed sharp gains last week. On November 21, silver was at ₹1,51,129 per kilogram, which increased by ₹13,230 to ₹1,64,359 per kilogram by November 28. Earlier, on October 14, silver had reached its all-time high level of ₹1,78,100 per kilogram.
How Gold and Silver May Perform This Week
According to JM Financial Vice President Pranav Mer, gold has now broken out of the limited range where it was stuck for a considerable time. Investors are now closely watching data from Manufacturing and Services sectors worldwide, America’s Employment Data, and consumer sentiment.
Additionally, Fed Chairman Jerome Powell’s speech on Monday, potential progress in Russia-Ukraine peace talks, and RBI’s policy meeting on Friday will play crucial roles in determining market direction. Investors are extremely cautious about all these events.
MCX and Global Market Status
On Multi Commodity Exchange (MCX), February 2026 delivery gold rose ₹3,654 or 2.9 percent last week, closing at ₹1,29,504 per 10 grams on Friday. The weakening of the rupee in India and strong local demand have intensified volatility in gold prices.
Meanwhile, in the global market, December delivery gold contracts rose $138.8 or 3.4 percent throughout the week, closing at $4,218.3 per ounce on Friday. Continuous purchases by central banks worldwide have kept the long-term outlook for gold strong.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
