Gold Prices Fall Further as Dollar Strengthens; Silver Also Slips on Global Pressure

Gold Price Today, November 10, 2025: The Indian gold market witnessed another dip in prices on Monday, driven by a strong U.S. dollar and cautious monetary signals from the Federal Reserve. Both gold and silver traded lower across major cities, with analysts noting reduced demand for safe-haven assets amid global uncertainty and mixed economic cues.

Gold Prices Slip in Key Indian Markets

According to data from major bullion associations, the price of 24-carat gold in Delhi stood at ₹1,22,160 per 10 grams, while 22-carat gold traded at ₹1,12,000 per 10 grams. Over the past week, 24-carat gold has dropped by ₹980 and 22-carat gold by ₹1,160, reflecting consistent downward movement since the start of November.

In Mumbai, Chennai, and Kolkata, the rates remained almost identical, with 22-carat gold priced at ₹1,11,840 and 24-carat gold at ₹1,22,010 per 10 grams. Pune and Bengaluru also followed the same trend, recording similar figures.

Here’s a snapshot of gold prices across major cities on November 10, 2025:

Why Gold Prices Are Falling

Experts attribute the recent decline to a stronger U.S. dollar index and the Federal Reserve’s “wait and watch” approach regarding future interest rate decisions. These factors have weakened demand for gold, which traditionally performs well during periods of low interest rates and economic instability.

“Investors are showing caution as global inflation data remains mixed, and the U.S. dollar is maintaining strength. This has caused a short-term dip in precious metal investments,” said a commodities analyst at a Mumbai-based brokerage firm.

On the international front, spot gold prices dropped to $3,996.93 per ounce, marking a mild correction after recent highs. Despite the decline, market experts continue to project a bullish long-term outlook. Goldman Sachs forecasts gold could reach $4,900 per ounce by December 2026, while ANZ expects the yellow metal to touch $4,600 per ounce by mid-2026. DSP Merrill Lynch has also reiterated that the long-term rally in gold is far from over.

Silver Prices Also Decline

Following gold’s trajectory, silver prices also slipped in domestic markets. On November 10, silver was trading at ₹1,52,400 per kilogram, reflecting a marginal fall from last week’s level. Globally, spot silver was priced at $48.48 per ounce.

Analysts noted that silver’s short-term price movement is closely tied to both gold trends and global industrial demand. The slowdown in manufacturing and reduced investment demand have led to temporary price stagnation. However, the metal’s increasing use in solar panels, electronics, and electric vehicles continues to support its long-term value.

Factors Influencing Precious Metal Prices

The prices of gold and silver in India are affected by both domestic and international factors. These include:

• Global market trends and currency movement (especially the strength of the U.S. dollar)

• Inflation rates and interest rate policies from major central banks

• Domestic jewelry demand, particularly during festive and wedding seasons

• Geopolitical developments and investor sentiment

Currently, domestic demand remains soft following Diwali and Dhanteras, when most households made significant jewelry purchases. However, traders expect renewed activity as the wedding season begins in mid-November, potentially stabilizing prices in the coming weeks.

Outlook for Investors

While short-term corrections may continue, experts advise long-term investors not to panic. “Gold remains a reliable hedge against inflation and market volatility. Any dip offers a buying opportunity for those investing with a long-term horizon,” analysts suggest.

With global central banks still balancing inflation control with growth, gold’s safe-haven appeal could strengthen once again. Meanwhile, silver’s growing industrial utility could help it outperform in 2026 as the global clean energy transition accelerates.