The price of gold experienced a slight decline in the domestic futures market on Thursday, November 20. This dip was primarily driven by a strengthening US dollar and fading market expectations for an interest rate cut from the US Federal Reserve in the coming month.
Market Snapshot: Gold and Silver Performance
In the commodities market, MCX Gold December futures traded lower by 0.13% at ₹1,22,886 per 10 grams as of 11:28 am on November 20. In a contrasting trend, the silver market saw gains, with MCX Silver December contracts rising by 0.58% to ₹1,56,000 per kilogram.
For retail buyers, the spot prices of physical gold were also recorded. According to data from India Bullions, at the same time, 24-carat gold was priced at ₹1,23,480 for 10 grams, while the more commonly purchased 22-carat gold was available at ₹1,13,190 for 10 grams. The spot price for silver (999 Fine) stood at ₹1,56,650 per kg.
City-Wise Gold and Silver Price Breakdown
Here is a detailed look at the retail gold prices across major Indian cities for November 20. It is crucial for customers to remember that the final bill from a jeweller will likely be higher than these base prices, as it includes making charges, applicable taxes, and GST.
Gold Prices in Major Cities (per 10 grams):
- Mumbai: 24K - ₹1,23,210 | 22K - ₹1,12,943
- New Delhi: 24K - ₹1,23,030 | 22K - ₹1,12,778
- Kolkata: 24K - ₹1,23,080 | 22K - ₹1,12,823
- Ahmedabad: 24K - ₹1,23,540 | 22K - ₹1,13,245
- Bengaluru: 24K - ₹1,23,410 | 22K - ₹1,13,126
- Hyderabad: 24K - ₹1,23,460 | 22K - ₹1,13,172
- Chennai: 24K - ₹1,23,620 | 22K - ₹1,13,318
The Long-Term Shine of Gold
Despite daily fluctuations, the long-term trajectory of gold in India has been overwhelmingly positive. Historical data reveals a staggering growth story. Gold prices have surged by an incredible 1,200%, climbing from a modest ₹7,638 in 2005 to over ₹1,25,000 as of September 2025.
This remarkable journey saw gold delivering positive annual returns in 16 out of the last 20 years. Furthermore, on a year-to-date (YTD) basis, gold has already gained 56% in 2025, reinforcing its status as a preferred safe-haven asset for Indian investors.
