Gold and silver have staged an impressive rebound after a tentative start to November, but analysts say their next move will hinge on global monetary policy, currency movements, and seasonal demand. Investors remain watchful as both metals consolidate recent gains amid mixed market cues.
After a slow start to November, gold and silver prices have bounced back, rekindling optimism among precious metals investors. Gold is currently consolidating around ₹12,328 per gram for 24-karat and ₹11,300 for 22-karat in India, marking a dramatic 50% rise since the start of 2025. Silver is also shining, standing at ₹151 per gram, supported by strong industrial demand and its perceived value as a “cheaper” precious metal compared to gold.
Key Highlights:
Gold rates in India surged on October 31 before entering a mild correction, echoing international trends shaped by dollar strength and changing U.S. Federal Reserve rate expectations.
Silver prices continue to rise in tandem, bolstered by robust demand for electronics and renewables.
After a 3% uptick in October, experts suggest the latest dip may create a ‘strategic entry point’ for long-term investors, as central banks accumulate bullion and monetary easing remains on the horizon.
Analysts warn of potential volatility driven by possible dollar rallies and central bank policy surprises.
Seasonality is also a tailwind, with festival and holiday demand in India and China typically providing support in November and December.
While some anticipate further rallies if central banks maintain accommodative policies, others suggest gold and silver may consolidate in a range until new economic signals emerge. The consensus: volatility remains, but underlying demand is resilient, and metals could rally anew if global risks resurface.
Sources: Goodreturns, Times of India, Economic Times, Kitco, GoldPriceForecast.com