Gold Prices Fall in India on Fed Rate Cut Doubts

Gold prices in India fell on Friday, November 21, 2025, in major cities including New Delhi and Mumbai, following a weak global trend and reduced expectations for a U.S. Federal Reserve interest rate cut next month. The All India Sarafa Association reported a decline of Rs 600, bringing the price of 10 grams of gold to Rs 1,26,100 in the national capital. For 99.5 percent purity gold, the rate stood at Rs 1,25,500 per 10 grams, inclusive of taxes.

In Mumbai, 24-carat gold traded at Rs 1,24,250 per 10 grams, while 22-carat gold was available at Rs 1,13,890 per 10 grams, excluding GST and making charges. Similar rates prevailed across other key cities such as Delhi, Jaipur, Ahmedabad, Pune, Hyderabad, Chennai, Bengaluru, and Kolkata, with 24-carat gold ranging from Rs 1,24,250 to Rs 1,24,400 per 10 grams. Silver prices also tumbled, dropping Rs 2,000 to Rs 1,56,000 per kilogram in the national capital and Rs 1,64,900 per kilogram in Mumbai's spot market.

The downturn mirrored international markets, where spot gold eased 0.38 percent to USD 4,061.91 per ounce, and silver futures declined 2.13 percent to USD 49.56 per ounce. On the Multi Commodity Exchange of India, December gold...