Gold Prices Surge: Weekly Rise of ₹3,060 as Global Signals Push 24-Carat Rates to New Highs

Gold prices in the country have witnessed a sharp upswing over the past week, driven by strong global cues, a weaker dollar, and economic uncertainties overseas. According to the latest market updates, 24-carat gold has become costlier by ₹3,060 per 10 grams in just seven days, while 22-carat gold has gained ₹2,800 during the same period. On 16 November, the price of 24-carat gold in the national capital reached ₹125,230 per 10 grams, marking one of the highest levels seen in recent weeks.

Experts believe the recent surge was largely triggered by international developments, particularly the temporary shutdown of the US government, softness in the dollar, and a jump in gold reserves in Shanghai. With the US shutdown now concluded, analysts expect upcoming economic data—likely to show weak performance—to provide further support to gold prices in the global market.

This rise in global demand has directly impacted domestic rates, which continue to remain firm across major cities. Here is a detailed look at the latest gold prices across major markets in the country.

Gold Prices in Major Cities

In the national capital, the price of 24-carat gold stands at ₹125,230 per 10 grams, while the 22-carat variant is priced at ₹114,800. The trend is broadly consistent across other metros, although rates may vary slightly due to local taxes and market conditions.

In Mumbai, Chennai and Kolkata, 22-carat gold is currently priced at ₹114,650 per 10 grams, and 24-carat gold is available at ₹125,080 per 10 grams. Similarly, cities such as Pune and Bengaluru are also reporting identical rates for both purity levels, with 24-carat gold priced at ₹125,080 and 22-carat gold at ₹114,650 per 10 grams.

A broad overview of gold prices across key markets shows a largely upward trend, reflecting the strong global demand and domestic buying interest.

City-wise Gold Rates (Per 10 Grams)

• Delhi: 22-carat – ₹114,800 | 24-carat – ₹125,230

• Mumbai: 22-carat – ₹114,650 | 24-carat – ₹125,080

• Ahmedabad: 22-carat – ₹114,700 | 24-carat – ₹125,130

• Chennai: 22-carat – ₹114,650 | 24-carat – ₹125,080

• Kolkata: 22-carat – ₹114,650 | 24-carat – ₹125,080

• Hyderabad: 22-carat – ₹114,650 | 24-carat – ₹125,080

• Jaipur: 22-carat – ₹114,800 | 24-carat – ₹125,230

• Bhopal: 22-carat – ₹114,700 | 24-carat – ₹125,130

• Lucknow: 22-carat – ₹114,800 | 24-carat – ₹125,230

• Chandigarh: 22-carat – ₹114,800 | 24-carat – ₹125,230

Global Forecast: Gold May Hit New Milestones by 2026

The bullish sentiment is not limited to the domestic market. A Bloomberg report suggests that several major financial institutions expect gold to reach unprecedented levels in the next two years. JPMorgan Private Bank predicts that gold could climb to $5,000 per ounce by 2026, with the possibility of touching $5,200 to $5,300 by the end of the year, according to its Global Head of Macro and Fixed Income Strategy, Alex Wolf.

Goldman Sachs has forecast that gold may hit $4,900 per ounce by December 2026. Meanwhile, analysts at ANZ believe the metal could reach $4,600 per ounce by mid-next year. These projections indicate a consistently strong outlook for the precious metal, supported by rising investment demand and global economic uncertainty.

Silver Also Records Strong Gains

Silver prices have also shown remarkable momentum over the past week. On 16 November, silver rose by ₹16,500 per kilogram to reach ₹169,000. In the international market, spot silver prices have climbed to $52.03 per ounce. Just like gold, domestic silver rates are influenced by a mix of local and global factors, including industrial demand, currency movement, and worldwide market sentiment.

As global uncertainties persist, investors continue to turn to precious metals such as gold and silver as safe-haven assets. With expert forecasts pointing toward further gains, the bullion market is expected to remain active and volatile in the coming months.