Gold Price Today on November 28: Bullion pulls back after surge in Fed-driven rate cut optimism; silver rates increase for 999 purity

Gold and silver Price today

The spot price of gold was hovering just above $4,157 per ounce for 24-carat purity on November 28, as of 12:15 a.m (IST). That's down nearly 0.15 percent from the previous close, after surging from federal reserves interest rate cut cheer.

As per CME FedWath Tool, the probability that the Fed would lower rates by 25 basis points to 3.50-3.75 percent at the December monetary policy meeting has risen to 86.9 percent from 39.1 percent a week ago.

The Augmont Bullion report published on November 27, indicates that gold prices would need a solid trigger to climb above $4,200. If it does, the next resistance would be $4,245 (Rs 127,800), or fall back to $4,100 (Rs 123,000) if it doesn't.

The price of December gold futures on the Multi Commodity Exchange (MCX) closed Thursday at Rs 1,25,507 per 10 grams of 24-carat purity. That’s nearly 0.21 percent dip from the previous close. The yellow metal hit the lowest at Rs 1,25,132 and peaked at Rs 1,25,682 during the day’s trade.

As per Indian Bullion and Jewelers Association (IBJA), the price of physical yellow metal stood at Rs 1,26,057 per 10 grams of 999 purity on November 27, in the 18:30 p.m rate session. That's a nearly 0.20 percent dip in 24 hours. The price of gold this month peaked at Rs 1,26,554 on November 13, 2025.

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 $53 per ounce on November 28, as of 12:15 a.m (IST).

On MCX, December silver futures on Thursday closed at Rs 1,67,190 per 10 grams of 24-carat purity. That’s up nearly 1.37 percent from previous close at Rs 1,64,945.

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