Gold prices in India witnessed a sharp rally in October 2025, supported by strong festive demand, the US Federal Reserve’s rate cut, and robust central bank buying. Despite recent volatility, the yellow metal delivered an impressive performance, making October one of the best months of the year for gold investors.
On the Multi Commodity Exchange (MCX), gold prices climbed nearly 5%, touching a record high of ₹1,32,294 per 10 grams, while silver gained about 5% to ₹1,70,415 per kg. The upward movement was driven by increased Diwali purchases, safe-haven buying amid global market uncertainty, and heavy central bank accumulation led by countries like Kazakhstan and Brazil.
The domestic rally was also boosted by the US Fed’s interest rate cut, which reduced the opportunity cost of holding gold, making it more attractive for investors.
Gold and Silver Prices Today
On Friday, gold opened slightly lower on MCX following a weak trend in international bullion prices.
- MCX Gold December futures opened 0.29% lower at ₹1,21,148 per 10 grams, compared to the previous close of ₹1,21,508.
- MCX Silver December futures slipped 0.47% to ₹1,48,140 per kg.
The decline came amid a strong US dollar, which typically exerts downward pressure on precious metals.
Gold Price Outlook for November 2025
Experts expect gold to remain volatile but supported, with prices likely to consolidate in a narrow range. Strong central bank demand and continued investment inflows into bullion are expected to keep the metal resilient.
Globally, spot gold is projected to trade between $3,850–$4,170, while in India, MCX gold prices could fluctuate between ₹1,16,000–₹1,22,800 per 10 grams in the near term.
However, a stronger US dollar and expectations of the Fed pausing further rate cuts in December may limit any major upside.
Gold continues to maintain its appeal as a safe-haven asset, with investors closely watching the US dollar index, bond yields, and global inflation trends for cues in November.
