Gold prices concluded Friday's trading session on a downward trend on India's Multi Commodity Exchange (MCX), influenced by a strengthening US dollar, while silver managed to secure modest gains.
Friday's Market Performance
MCX Gold December futures settled 0.02% lower at ₹1,21,038 per 10 grams when trading concluded on Friday, November 7 at 11:58 pm. In contrast, the silver market showed resilience with MCX Silver December contracts climbing 0.04% to reach ₹1,47,789 per kilogram.
According to the latest data from India Bullions, the spot prices for 24-carat gold stood at ₹1,21,470 per 10 grams at 10:55 am on November 9, while 22-carat gold was trading at ₹1,11,348 per 10 grams. Silver prices for the 999 fine variety were recorded at ₹1,48,320 per kilogram during the same period.
Gold's Remarkable Long-Term Performance
Despite recent weekly declines, gold has demonstrated extraordinary growth over the past two decades. The precious metal has surged by an impressive 1,200%, skyrocketing from ₹7,638 in 2005 to over ₹1,25,000 as of September 2025.
This remarkable journey has seen gold deliver positive returns in 16 out of the past 20 years, establishing itself as one of the most reliable investment assets. On a year-to-date basis, gold prices have gained 56%, continuing their strong performance despite temporary fluctuations.
Current Gold and Silver Rates Across Major Cities
Here's a comprehensive look at the prevailing bullion rates in key Indian metropolitan centers as of November 9:
Mumbai: 24K gold - ₹121,250/10gm, 22K gold - ₹1,11,146/10gm, Silver - ₹1,48,050/kg
Pune: 24K gold - ₹1,21,250/10gm, 22K gold - ₹1,11,146/10gm, Silver - ₹1,48,050/kg
Delhi: 24K gold - ₹1,21,040/10gm, 22K gold - ₹1,10,953/10gm, Silver - ₹1,47,800/kg
Kolkata: 24K gold - ₹1,21,090/10gm, 22K gold - ₹1,10,999/10gm, Silver - ₹1,47,850/kg
Ahmedabad: 24K gold - ₹1,21,410/10gm, 22K gold - ₹1,11,293/10gm, Silver - ₹1,48,250/kg
Bengaluru: 24K gold - ₹1,21,350/10gm, 22K gold - ₹1,11,238/10gm, Silver - ₹1,48,170/kg
Hyderabad: 24K gold - ₹1,21,440/10gm, 22K gold - ₹1,11,320/10gm, Silver - ₹1,48,290/kg
Chennai: 24K gold - ₹1,21,610/10gm, 22K gold - ₹1,11,476/10gm, Silver - ₹1,48,480/kg
Potential buyers should note that jewellers typically add making charges, applicable taxes, and GST to these base prices, which will increase the final purchase amount significantly.
Disclaimer: This information is provided for educational purposes only. The views and recommendations expressed are those of individual analysts or broking companies. Investors are advised to consult certified experts before making any investment decisions.
