Gold Rate Today, November 21: Investors across India witnessed a slight dip in gold prices on Friday as global cues shifted yet again. With expectations of a Federal Reserve rate cut in December fading—primarily due to the delayed yet stronger-than-expected US jobs data—domestic gold rates reacted accordingly. Gold and silver prices displayed marginal declines in both the retail spot market and the futures trade on the Multi Commodity Exchange (MCX).
In major metro cities, 24-carat gold price today stands at Rs 1,24,250 per 10 grams, while the 22-carat gold rate is around Rs 1,13,890 per 10 grams in Mumbai. Silver maintains pressure as well, hovering at Rs 1,64,900 per kg in the spot market.
This comprehensive report breaks down city-wise gold rates, MCX updates, global market triggers, investment trends, and key takeaways for consumers and investors keeping an eye on precious metal prices.
Table of Contents
- Gold Rate Today: Key Highlights
- Why Gold Prices Fell Today
- 24-Carat Gold Price in Major Cities
- 22-Carat Gold Price in Major Cities
- Silver Rate Today in India
- MCX Gold & Silver Futures Market Update
- Global Factors Affecting Gold Price Movement
- Dollar Index, Bond Yields & Fed Policy Impact
- Investor Sentiment and Safe-Haven Demand
- Month-on-Month Gold Rate Comparison
- City-Wise Detailed Gold Price Analysis
- Key Reasons for Gold Price Volatility in 2025
- Should You Buy Gold Today? Expert View
- Best Time to Invest in Gold — Trends from Last 10 Years
- Gold Demand Forecast for 2025–2026
- Factors That May Push Gold Prices Higher in Coming Months
- How Geopolitics Is Shaping Global Bullion Markets
- Gold vs. Silver: Which Is a Better Investment Right Now?
- Gold ETFs vs. Physical Gold: Returns Comparison
- Price Prediction for December 2025
- Conclusion: What Consumers Should Do Now
- FAQs on Gold Rate Today
1. Gold Rate Today: Key Highlights (November 21, 2025)
Here are the top highlights from the bullion market movement today:
- 24K gold price in Mumbai: Rs 1,24,250 per 10 grams
- 22K gold price in Mumbai: Rs 1,13,890 per 10 grams
- Silver spot price: Rs 1,64,900 per kg
- MCX gold futures (Dec 5): Down 0.16%, trading at Rs 1,22,531 per 10 grams
- MCX silver futures: Down 1.14%, at Rs 1,52,400 per kg
- Reason for decline: Weakening expectations of a Fed rate cut
2. Why Gold Prices Fell Today?
Gold prices slipped marginally due to one major global factor:
➤ Fading expectations of a December Fed rate cut
The US Federal Reserve plays a critical role in determining gold demand because:
- Lower interest rates weaken the dollar
- Dollar weakness boosts gold prices
- Higher interest rates strengthen the dollar
- Strong dollar makes gold expensive globally
The delayed US jobs report showed stronger hiring numbers, reducing the chance of an imminent rate cut. This pushed gold downward in global markets, directly influencing Indian prices.
3. 24-Carat Gold Rates in Major Indian Cities Today (Nov 21)
Gold prices vary across states due to transportation, taxes, and local demand.
| City | 24K Gold Rate (per 10 grams) |
|---|---|
| Mumbai | Rs 1,24,250 |
| Delhi | Rs 1,24,400 (approx.) |
| Kolkata | Rs 1,24,250 |
| Chennai | Rs 1,24,900 |
| Bengaluru | Rs 1,24,300 |
| Hyderabad | Rs 1,24,250 |
| Ahmedabad | Rs 1,24,350 |
| Pune | Rs 1,24,250 |
4. 22-Carat Gold Rates in Major Indian Cities Today (Nov 21)
| City | 22K Gold Rate (per 10 grams) |
|---|---|
| Mumbai | Rs 1,13,890 |
| Delhi | Rs 1,14,050 |
| Kolkata | Rs 1,13,890 |
| Chennai | Rs 1,14,500 |
| Bengaluru | Rs 1,13,950 |
| Hyderabad | Rs 1,13,890 |
| Pune | Rs 1,13,890 |
| Ahmedabad | Rs 1,13,950 |
5. Silver Rate Today
Silver prices also witnessed pressure in the spot and futures markets.
Spot Market
- Silver price today: Rs 1,64,900 per kg
MCX Silver Futures
- Down 1.14%
- Trading at: Rs 1,52,400 per kg
6. MCX Gold & Silver Futures Market Update
Gold Futures (Dec 5 contract)
- Opening: Rs 1,22,531
- Change: –0.16%
Silver Futures
- Opening: Rs 1,52,400
- Change: –1.14%
7. Global Factors Affecting Gold Prices in November 2025
- US Fed Rate Policy
- Dollar Index Volatility
- Bond Yield Movement
- Geopolitical tensions in Middle East & Europe
- Oil price fluctuations
- Demand from China & India (largest consumers)
- Central bank gold purchases
8. Dollar Index, Bond Yields & Fed Policy Impact
Gold typically moves inversely to the:
- US Dollar Index (DXY)
- US Treasury Bond Yields
Higher yields → Lower gold
Lower yields → Higher gold
As of today, both the dollar and yields stayed strong, pushing gold slightly downward.
9. Investor Sentiment & Safe-Haven Demand
Investors closely track gold during uncertainty.
Safe-haven demand rises when:
- Stock markets fall
- Geopolitical tensions rise
- Inflation increases
- Central banks tighten policy
This week, a small correction occurred due to mixed global market signals.
10. Month-on-Month Gold Rate Comparison
24K Gold Trends — Past 30 Days
- Highest: Rs 1,25,900
- Lowest: Rs 1,22,800
- Current: Rs 1,24,250
Gold remains in a broader upward trend despite daily fluctuations.
11. City-Wise Detailed Price Analysis
Each city’s price movement is influenced by its own market ecosystem.
Delhi
- Higher demand → Slightly higher price
- Festivals & wedding season add pressure
Mumbai
- Benchmark market
- Reflects global rates quickly
Chennai
- Strong physical gold demand
- Price varies due to regional taxes
Kolkata
- Stable rates
- Reflects eastern India’s bullion demand
12. Why Gold Prices Are Volatile in 2025
- Central banks aggressively buying gold
- Global conflict zones increasing
- Currency instability in emerging markets
- High inflation across the world
- Election-related market uncertainty in US, UK, India
13. Should You Buy Gold Today? (Expert View)
Experts suggest:
Buy on Dips Strategy
- Good for long-term investors
- Prices may rise in December–January
For Short Term
- Consider gold ETFs
- Avoid high making charges
14. Best Time to Invest in Gold (Based on Last 10 Years)
Historically, best buying periods:
- April–July (lower demand)
- Post-festival season correction
- During rate hikes
15. Gold Demand Forecast for 2025–26
Analysts predict:
- Steady upward movement
- Potential to cross Rs 1,30,000 per 10 grams
- Strong demand from India & China will continue
16. Factors That May Push Gold Prices Higher Soon
- Strong central bank buying
- Rising inflation
- Middle East tensions
- Weakening dollar in Q1 2026
- Global recession possibility
17. How Geopolitics Is Driving Bullion Markets
Key geopolitical triggers:
- Israel–Gaza conflict
- Russia–Ukraine standoff
- Red Sea trade disruptions
- OPEC oil supply decisions
Such tensions keep gold prices elevated globally.
18. Gold vs. Silver — Which Is Better Right Now?
Gold Pros
- Stable
- Safe-haven
- Long-term hedge against inflation
Silver Pros
- Strong industrial demand
- More affordable
- Higher volatility → Higher returns
19. Gold ETFs vs Physical Gold — Comparison
| Feature | Gold ETF | Physical Gold |
|---|---|---|
| Liquidity | High | Medium |
| Making charges | None | High |
| Safety | High | Needs storage |
| Long-term returns | Stable | Stable |
Investors prefer ETFs for convenience and long-term gains.
20. Price Prediction for December 2025
Experts estimate:
- 24K gold may reach: Rs 1,26,000–1,28,000
- Silver may move towards: Rs 1,68,000 per kg
21. Conclusion: What Should Consumers Do Now?
- Prices have dipped slightly → Good entry point
- Wedding shoppers can buy now
- Investors may wait for further correction
- Consider SIP in gold ETFs for long-term benefits
22. Frequently Asked Questions
1. Why did gold prices fall today?
Because Fed rate cut expectations weakened after a strong US jobs report.
2. What is today’s gold rate in Mumbai?
24K: Rs 1,24,250
22K: Rs 1,13,890
3. Will gold go up again?
Yes, analysts predict a rise in December–January.
4. Is today a good time to buy?
Yes, dips offer a good buying opportunity for long-term investors.
