Overview: Gold and Silver Prices See Mild Correction Amid Global Market Fluctuations
On November 13, 2025, India’s gold and silver prices witnessed a slight dip as global market sentiment turned cautious. According to data from Goodreturns.com, the price of 24K gold (99.9% purity) dropped marginally to ₹12,550 per gram, while 22K gold was priced at ₹11,504 per gram.
The slight decline in prices comes amid volatile global cues, fluctuating US dollar strength, and subdued domestic festive demand. Gold, traditionally considered a safe-haven investment and inflation hedge, continues to trade with moderate volatility during the ongoing festive and wedding season.
Gold Price Trends Across Major Indian Cities (November 13, 2025)
Here’s a quick look at gold prices today in India’s major cities:
City
22K Gold (₹/10g)
24K Gold (₹/10g)
Delhi
1,15,040
1,25,500
Mumbai
1,15,020
1,25,480
Chennai
1,16,100
1,26,600
Kolkata
1,15,030
1,25,490
Bengaluru
1,15,050
1,25,500
Hyderabad
1,15,020
1,25,480
Ahmedabad
1,15,000
1,25,460
Jaipur
1,15,070
1,25,530
(Note: Rates may vary slightly across local jewellers and bullion associations.)
What’s Driving the Current Gold Price Decline?
The slight fall in gold prices can be attributed to several global and domestic economic factors:
1. Strengthening of the US Dollar Index
The US dollar has gained momentum against major global currencies, reducing the appeal of gold for overseas investors.
A stronger dollar typically makes gold costlier for buyers using other currencies, leading to lower demand in the global market.
2. Declining Festive Demand in India
Despite the ongoing wedding and festive season, urban demand for physical gold has slightly reduced compared to expectations.
Many consumers have shifted their focus to digital gold and gold ETFs, which has affected physical gold sales at the retail level.
3. Softer Inflation and Interest Rate Expectations
With global inflation rates moderating, investors are revising expectations of interest rate cuts.
The US Federal Reserve’s neutral stance on rate policy has created a cautious tone in precious metal markets.
4. Reduced Central Bank Purchases
In recent weeks, central bank gold purchases have slowed down, leading to a moderation in global gold demand.
This is particularly evident in Asia and the Middle East, where major gold-buying nations have adopted a wait-and-watch strategy.
International Gold Market Overview
Globally, gold prices are currently hovering near $2,360 per ounce, down slightly from last week’s high of $2,375 per ounce. Key highlights from the international market:
Spot gold traded marginally lower due to dollar strength and Treasury yields stability.
Gold futures on COMEX slipped by 0.2% to $2,357.40 per ounce.
Silver prices followed suit, falling to $27.95 per ounce.
Market analysts believe that geopolitical tensions, economic slowdown risks, and central bank decisions will continue to shape the yellow metal’s trend in the coming weeks.
Domestic Market Sentiment: Buyers Turn Cautious
Despite the festive mood, buyers are becoming increasingly cautious as prices remain near record highs. Key insights from jewellers and traders:
Retailers in Delhi, Mumbai, and Chennai have reported mixed sales volumes this week.
Rural demand, often a key driver during harvest seasons, remains stable but not robust.
Gold jewellery purchases are now being planned around auspicious dates in November and December.
Why Gold Prices Matter for Indian Consumers
Gold holds immense cultural, financial, and emotional value in India. As the world’s second-largest gold consumer, even small price changes can significantly influence:
Jewellery purchases during weddings and festivals
Investment decisions in gold ETFs, digital gold, and sovereign bonds
Import bills and the current account deficit for the Indian economy
Silver Prices Also Ease Slightly
Alongside gold, silver prices saw a modest decline on November 13. According to Goodreturns data:
Silver price per gram: ₹152.70
Silver price per kilogram: ₹1,52,700
Silver continues to see pressure from industrial demand fluctuations and global growth concerns.
“Gold’s short-term outlook remains range-bound as investors are assessing the global economic direction. The Indian market might see some price stability before another upward push during the wedding season.”
2. Anuj Gupta, Head of Commodity Research, HDFC Securities:
“The slight correction in gold prices is a healthy sign. Investors can use dips to accumulate gold for long-term gains as global economic uncertainties persist.”
3. Commodity Experts at Motilal Oswal:
“If the US dollar weakens in the coming weeks or if central banks signal easing monetary policies, gold could again touch the $2,400–2,450 levels.”
Factors to Watch for Gold Price Movement in Coming Weeks
1. Global Economic Data Releases
Upcoming data on US inflation, employment figures, and interest rate decisions will heavily influence gold’s direction.
2. Festive and Wedding Season Demand
With Dhanteras, Diwali, and upcoming marriages, demand could see short bursts depending on consumer sentiment.
3. Crude Oil and Inflation Link
Any surge in oil prices could reignite inflationary pressures, supporting higher gold demand as a hedge.
4. Central Bank Policies
Global central bank gold reserves and monetary policy stances will continue to affect bullion demand.
Investment Perspective: Should You Buy Gold Now?
Analysts recommend a gradual accumulation approach rather than aggressive buying. Here’s why:
Short-term volatility likely due to global economic data.
Long-term bullish trend supported by inflation concerns.
Diversification benefit for portfolios during uncertain times.
Investors can explore:
Sovereign Gold Bonds (SGBs) – Safe and interest-bearing
Gold ETFs or Digital Gold – For liquidity and convenience
Physical Gold Coins/Bars – Ideal for traditional investors
Historical Gold Price Performance (2025)
Month
Average 24K Gold Price (₹/10g)
Trend
January
1,21,800
Bullish
March
1,23,100
Steady
May
1,24,000
Rising
July
1,25,200
Slight Dip
September
1,26,000
Stable
November
1,25,500
Slight Fall
Despite fluctuations, gold has delivered consistent annual gains, reflecting its role as a long-term inflation hedge.
How to Check Live Gold Prices in India
You can stay updated on live gold and silver rates through reliable sources like:
Conclusion: Gold Prices Hold Steady with a Mild Downtrend
As of November 13, 2025, gold prices in India have experienced a minor correction, offering a potential entry point for long-term investors. While global headwinds like the US dollar index, interest rate expectations, and geopolitical developments continue to shape trends, the domestic market remains resilient.
With the festive and wedding season continuing through the year-end, gold is expected to maintain steady demand across major Indian cities. Investors are advised to monitor global cues and use dips strategically to build their gold portfolios.
Key Takeaways
24K gold at ₹12,550/gram; 22K gold at ₹11,504/gram
Silver prices slightly down at ₹152.70/gram
Weak global demand and stronger dollar weigh on prices
Short-term correction, long-term bullish outlook remains
Ideal time to accumulate gold in staggered investments
