Gold prices have edged higher today, November 11, 2025, buoyed by expectations of a Federal Reserve rate cut and a weakening US dollar. Market participants are increasingly betting on a 25 basis points (bps) rate reduction by the Fed next month, influenced by recent data indicating a softening job market.
Current Prices in Major Indian Cities
In India, gold rates are experiencing a slight increase, influenced by global demand and inflationary pressures. As of today, the price of 24K gold is ₹12,383 per 1 gram. 22K gold, commonly used in jewelry, is priced at ₹11,351 per 1 gram. Silver is priced at Rs 157.10 per gram.
Here's a city-wise breakdown of 24K gold prices:
- Delhi: ₹12,398
- Mumbai: ₹12,383
- Kolkata: ₹12,383
- Chennai: ₹12,525
- Bangalore: ₹12,383
Factors Influencing Gold Prices
Several factors are contributing to the current upward trend in gold prices. The prospect of lower interest rates reduces the opportunity cost of holding gold, making it a more attractive investment. A softer dollar also supports gold, as it makes the commodity cheaper for buyers holding other currencies. Persistent economic and political uncertainties continue to drive safe-haven demand for gold.
Global Market Overview
Spot gold rose to $4,130.87 per ounce, a 0.36% increase from the previous day. The market is closely watching for any indications of a shift in the Federal Reserve's monetary policy. Currently, market pricing reflects a 65% probability of a Fed rate cut at the December 10 meeting.
Analyst Expectations
Analysts anticipate gold to trade at $4,038.44 USD/t oz. by the end of the current quarter and $4,261.44 in 12 months. Financial institutions are converging on bullish gold price forecasts, with J.P. Morgan Private Bank projecting gold prices topping $5,000 by 2026, potentially reaching $5,200-$5,300.
Impact of US Shutdown Resolution
The US Senate's progress on a measure to reopen the federal government and end the shutdown has also influenced market sentiment. While positive market sentiment could undermine safe-haven assets like gold, the expectation of a resolution to the shutdown is contributing to overall market stability.
Long-Term Forecasts
Long-term forecasts for gold remain positive. Gold is anticipated to trade between $3,794.12 and $4,216.88 in 2025, with an average annualized price of $3,973.70. Over the next 5 years, the price of gold is expected to experience volatility but could reach $8,519.79 by 2030.
