Gold price at Rs 1,25,000 level amid wedding season demand for jewelry; check silver rates for 999 purity

Gold price is up driven marginally by wedding season demand for jewelry.

The spot price of gold was hovering just above $4,144 per ounce for 24-carat purity on November 26, as of 12:01 a.m. That's up nearly 0.24 percent from the previous close at $4,134, with renewed hopes for another rate cut by the U.S. Federal Reserves.

On the Multi Commodity Exchange (MCX), December gold futures on Tuesday closed at Rs 1,25,230 per 10 grams of 24-carat purity. That’s up 1.18 percent from previous close at Rs 1,23,854, with a turnover of 8,079 lots.

As per Indian Bullion and Jewelers Association (IBJA), the price of physical yellow metal closed at Rs 1,25,119 per 10 grams of 999 purity on November 25, in the 18:30 p.m rate session. That's a 1.47 percent increase from Rs 1,23,308 in 24 hours. The price of gold this month peaked at Rs 1,26,554 on November 13, 2025.

"Gold remains a strong portfolio anchor in the current environment, with a mild increase in price compared to the previous week in India. This price uptick has been driven by ongoing wedding-season jewelry demand, alongside its established role as an inflation hedge, and a hedge against currency risk. Wider global cues, such as a strong US dollar and monetary shifts in various central bank approaches, can be expected to soften modest upsides, but the domestic fundamentals seem favorable. Investors are buying gold not only for ornamental value but also for long-term preservation of real wealth," said Aksha Kamboj, Vice President, IBJA.

Gold prices vary by purity. Check out below to see prices of gold based on their purity.

Silver, on the other hand, continues to shine not just as a household essential but also as a key investment and industrial metal. The spot price of silver continues to hover just above $50 per ounce on November 24, as of 10:45 p.m.

On MCX, December silver futures on Tuesday closed at Rs 1,56,322 per 10 grams of 24-carat purity. That’s up 1.19 percent from previous close at Rs 1,54,482, with a turnover of 8,368 lots.

“Silver is showing a slight increase in Indian markets, driven by some combination of industrial usage and traditional investment demand. During the wedding season, silver jewellery and other gift items help increase the off-take for silver, while industrial demand continues to provide a structural under pinning, particularly in electronics and solar. A gradual interest is seen returning to silver as sentiment shifts incrementally from a consolidation phase to a stage of modest gain potential for both buyers and investors,” said Kamboj

Check out below to see the prices of 999 purity silver.