Gold and silver prices witnessed a significant upswing in Indian markets on Monday, December 1, propelled by robust global trends and heightened investor anticipation of interest rate reductions by the US Federal Reserve. The bullish sentiment provided strong support for the precious metals, leading to notable gains in futures trading.
MCX Futures Record Notable Gains
Gold futures for December delivery on the Multi Commodity Exchange (MCX) surged by ₹596, or 0.47%, to settle at ₹1,26,100 per 10 grams. This upward movement was recorded in a business turnover of 4,496 lots. Mirroring the trend, silver prices also continued their ascent. The December contract for silver climbed by ₹1,183, or 0.73%, reaching ₹1,63,650 per kilogram in a trading volume of 5,799 lots.
A Two-Decade Bull Run for Gold
The rally on Monday adds to a remarkable long-term performance for the yellow metal. Over the past two decades, gold prices have skyrocketed by an astounding 1,500%. From a level of ₹7,638 per 10 grams in 2005, the price has soared to over ₹1,25,000 by September 2025. This impressive growth trajectory saw gold deliver positive annual returns in 16 out of the last 20 years, cementing its status as a favoured asset for wealth preservation.
City-Wise Gold and Silver Rates for December 1
While MCX futures set the benchmark, retail prices for physical gold and silver vary across major Indian cities due to local factors like making charges and Goods and Services Tax (GST). Below are the key rates observed on December 1.
Gold and Silver Prices in Mumbai
24 karat gold rate: ₹1,29,960/10 gm
22 karat gold rate: ₹1,19,130/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,850/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Delhi
24 karat gold rate: ₹1,29,730/10 gm
22 karat gold rate: ₹1,18,919/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,550/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Kolkata
24 karat gold rate: ₹1,29,670/10 gm
22 karat gold rate: ₹1,18,864/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,340/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Ahmedabad
24 karat gold rate: ₹1,30,020/10 gm
22 karat gold rate: ₹1,19,185/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,800/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Bengaluru
24 karat gold rate: ₹1,29,950/10 gm
22 karat gold rate: ₹1,19,121/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,710/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Hyderabad
24 karat gold rate: ₹1,30,050/10 gm
22 karat gold rate: ₹1,19,213/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,75,850/kg
MCX Silver 999 rate: ₹1,76,397/kg
Gold and Silver Prices in Chennai
24 karat gold rate: ₹1,30,220/10 gm
22 karat gold rate: ₹1,19,368/10 gm
MCX Gold rate: ₹1,30,138/10 gm
Silver bullion rate: ₹1,76,080/kg
MCX Silver 999 rate: ₹1,76,397/kg
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment.
