Gold Prices Above ₹1.26 Lakh for the First Time in Three Weeks, Silver Near 3.5-Week High

13 November 2025: Gold prices opened firm on MCX on Wednesday and managed to stay comfortably above the three-week high despite the global cues turning somewhat negative. February gold futures opened at ₹1,26,600 per 10 grams on MCX, up ₹135 or 0.11%. This indicates sustained strength in the domestic bullion market.

Silver futures remained resilient amid broader market weakness. The December contract was quoted above its three-and-a-half week-high at ₹1,63,780 per kg; up by ₹1,689 or 1.04%. Sustained buying reflects strong investor interest in precious metals amid ongoing global economic uncertainty.

Global Gold Cools Off as Dollar Strengthens and US Data Returns

In the international market, gold prices moved lower after touching a three-week high in the previous session. Spot gold fell 0.1 percent to $4,194.63 per ounce in early Asian trade, and US gold futures for December delivery were 0.3 percent lower at $4,199.30 per ounce. The dollar index inched higher against major global currencies, hovering around 99.49, up 0.02 points (0.023%). A stronger dollar is weighing on gold, making it less attractive for investors holding other currencies.

US Shutdown Resolution and Fed Outlook Support Bullion

Domestically, bullion prices are drawing strength from expectations of lower interest rates and easing political uncertainty in the United States. The US House of Representatives has moved toward ending what had become the longest government shutdown in the nation’s history. The shutdown, which began on October 1, has delayed the release of key economic indicators such as employment and inflation data.

Economists now expect the US Labour Department to focus on the November employment and inflation reports. This is in order to help the Federal Reserve policymakers during their meeting this December. In October, the Fed lowered its key interest rate by 25 basis points. However, remained cautious over any further cuts due to delayed data. However, at the upcoming meeting, many economists are anticipating another 25 basis point cut to support the slowing labour market.

Gold, being a non-yielding asset, typically benefits in a low-interest-rate environment and during periods of economic uncertainty. Expectations of monetary easing, the end of the US government shutdown, and the likely resumption of key economic data releases are all supporting an extended rally in bullion prices.

Gold Price Today in Key Indian Cities

In major Indian markets, physical gold prices mirrored the strength in futures trade. In Delhi, standard gold was quoted at ₹95,240 for 8 grams, while 24-carat gold stood at ₹1,02,512. In Mumbai, standard gold traded at ₹94,648 and pure gold at ₹1,01,768. In Chennai, 8 grams of standard gold were priced at ₹93,904, with pure gold at ₹1,00,992. In Hyderabad, standard gold was ₹95,112 and pure gold ₹1,02,328.

With domestic futures steady and physical prices stable across major cities, market participants are awaiting upcoming U.S. economic data and the next Federal Reserve policy decision for further direction in gold and silver prices.

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