Gold, silver see strong upswing; Fed decision in focus

New Delhi, Nov 26 Gold and silver prices surged sharply on Wednesday, with both precious metals becoming costlier by up to Rs 2,700 amid strong momentum in global markets.

According to the India Bullion Jewellers Association (IBJA), the price of 10 grams of 24-carat gold climbed Rs 962 to Rs 1,26,081, compared to Rs 1,25,119 on Tuesday.

The 22-carat variant rose to Rs 1,15,490 per 10 grams from Rs 1,14,609, while 18-carat gold moved up to Rs 94,561 from Rs 93,839 per 10 grams.

Silver recorded an even steeper rise. Prices jumped Rs 2,705 in the last 24 hours to Rs 1,59,025 per kg, up from Rs 1,56,320 earlier.

The uptrend was mirrored in the futures market as well.

On the Multi Commodity Exchange (MCX), gold for December 5, 2025, delivery gained 0.61 per cent to trade at Rs 1,25,988. Silver futures for the same date were up 1.56 per cent at Rs 1,58,757.

Internationally, precious metals were also traded in the firm. Gold was up 0.77 per cent at $4,198 per ounce, while silver rose 1.60 per cent to $51.80 per ounce.

Analysts said gold crossing $4,150 per ounce globally and Rs 1.25 lakh per 10 grams domestically signals persistent bullishness in the market.

Going forward, traders will closely watch upcoming US economic data and the Federal Reserve’s interest rate decision, which will play a key role in shaping the metal’s trajectory.

"Gold traded positively with Comex prices rising above $4,150, while MCX gold gained Rs 650 to trade at Rs 1,25,900," said Jateen Trivedi of LKP Securities.

"The bullish momentum in gold continues, with prices up nearly 2.5 per cent since Monday’s opening. Market focus now shifts to key US economic data, including GDP and the Core PCE Price Index, which will guide short-term direction. Gold is expected to remain volatile within a range of Rs 1,24,000–Rs 1,27,500," Trivedi said.

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