Gold Prices Near Rs 1.45 Lakh/10g, Silver Jumps Rs 2,900/kg on MCX Despite Rising Fed Rate Hike Bets: Check Rates in Your City

Gold and Silver Prices showed signs of recovery in early trade on Wednesday, November 11, after suffering a sharp decline in the previous session. However, stronger-than-expected US inflation data and growing expectations of another Federal Reserve interest rate hike in December continued to weigh on investor sentiment towards Precious Metals.

In the international market, gold and silver moved higher as investors assessed the impact of inflation, interest rate expectations and geopolitical developments. Domestic bullion prices also remained volatile, with traders tracking movements in global markets and the US dollar.

For Indian buyers, city-wise retail prices provide an indication of the cost of purchasing gold and silver. However, actual jewellery prices can differ depending on purity, local taxes, making charges and jeweller margins.

Key Highlights

• Gold and silver recovered modestly in early trade on November 11 following the previous session’s sharp decline.
• US October inflation increased by 0.4%, strengthening expectations of a Federal Reserve rate hike in December.
• International spot gold traded around $4,041 per ounce, while silver moved above $52 per ounce in an early market snapshot.
• MCX December gold futures were quoted around Rs 1.40 lakh per 10 grams, with silver near Rs 1.82 lakh per kilogram in early reports.
• Retail Gold Prices varied across Delhi, Mumbai, Chennai and Hyderabad on November 11.

Why Are Fed Rate Hike Expectations Rising?

The US Federal Reserve’s interest rate outlook has become a major factor influencing international gold and silver prices. Fresh inflation figures from the United States showed that consumer prices increased by 0.4% in October, exceeding market expectations.

Higher-than-expected inflation can make it more difficult for the Federal Reserve to bring price pressures under control. As a result, investors have increased their expectations of another interest rate hike in December.

Federal Reserve officials have also signalled that controlling inflation remains a priority. Comments from Fed Governor Christopher Waller added to expectations that policymakers could maintain a tighter monetary policy.

According to market reporting, expectations of a December rate increase strengthened significantly after the latest inflation data. Reuters reported that traders were pricing in a 100% probability of a December increase following the figures, compared with 84% before the inflation release.

Higher interest rates generally create pressure on gold because the metal does not provide regular interest income. When interest rates and bond yields rise, investors may find interest-bearing assets more attractive compared with non-yielding investments such as gold.

A stronger US dollar can also make internationally traded precious metals more expensive for buyers using other currencies, potentially limiting demand.

Gold and Silver International Prices

International bullion prices recovered modestly on Wednesday after experiencing significant selling pressure in the previous session. Spot gold rose around 0.21% to approximately $4,041 per ounce in an early market snapshot, while silver gained around 1.31% to trade just above $52 per ounce.

US gold futures also moved higher, with prices quoted around $4,051.50 per ounce. Silver futures recorded gains as investors reassessed the impact of the latest inflation figures and the Federal Reserve’s policy outlook.

However, the recovery remained limited by expectations of tighter monetary policy. Reuters reported that gold had recovered approximately 0.3% after falling nearly 3% in the previous session. Silver also advanced in international trading, reflecting a partial recovery after the earlier decline.

The difference between the previous session’s sharp fall and Wednesday’s modest rebound highlights the volatility currently affecting precious metals. Investors are balancing inflation concerns, interest rate expectations, currency movements and geopolitical developments.

What Lies Ahead for Precious Metals?

The near-term direction of gold and silver will depend significantly on developments in the US economy and the Federal Reserve’s policy decisions. If inflation remains elevated, expectations of higher interest rates could continue to put pressure on bullion prices.

US Treasury yields and movements in the dollar will also remain important indicators for precious metals. Rising yields can increase the opportunity cost of holding gold, while a weaker dollar may provide some support to international bullion prices.

Geopolitical developments could influence demand for safe-haven assets. Concerns about international conflicts and economic uncertainty may encourage investors to maintain exposure to gold, even when higher interest rates create headwinds.

Silver could experience additional price movements because it is influenced by both investment demand and industrial consumption. Its performance may therefore differ from gold during periods of changing economic expectations.

For investors, the recent recovery does not necessarily indicate that the earlier decline has ended. Price movements could remain sensitive to new economic data, central bank comments and changes in global market sentiment.

Gold Rate in Physical Markets

Retail gold prices in India vary according to purity, city and the source of price quotations. On November 11, indicative market rates showed 24-karat gold at approximately Rs 1,41,190 per 10 grams and 22-karat gold at around Rs 1,29,424 per 10 grams in an early morning snapshot.

Physical gold prices are different from MCX futures prices. Futures represent contracts traded on the commodity exchange, while retail rates reflect the prices quoted by bullion dealers and jewellers for physical purchases.

Buyers should also account for the additional costs involved in purchasing jewellery. Making charges, applicable Goods and Services Tax (GST), and other jeweller-specific charges can increase the final amount payable.

Gold Price Today in Delhi

In Delhi, the indicative 24-karat gold price stood at approximately Rs 1,40,690 per 10 grams on November 11. The 22-karat gold rate was around Rs 1,28,966 per 10 grams.

The indicative price of 999-purity silver was approximately Rs 1,82,440 per kilogram. Actual retail quotations may vary between jewellery stores and bullion dealers.

Gold Price Today in Mumbai

In Mumbai, 24-karat gold was quoted at approximately Rs 1,40,930 per 10 grams, while 22-karat gold was priced around Rs 1,29,186 per 10 grams in the early market snapshot.

Silver of 999 purity was quoted at approximately Rs 1,82,750 per kilogram. Local taxes, dealer margins and retail charges can affect the final purchase price.

Gold Price Today in Chennai

Chennai recorded an indicative 24-karat gold price of approximately Rs 1,41,340 per 10 grams on November 11. The 22-karat gold rate stood at around Rs 1,29,562 per 10 grams.

The indicative 999-purity silver price was approximately Rs 1,83,290 per kilogram, slightly higher than the quoted rates in Delhi and Mumbai.

Gold Price Today in Hyderabad

In Hyderabad, 24-karat gold was quoted at approximately Rs 1,41,160 per 10 grams, while 22-karat gold stood at around Rs 1,29,397 per 10 grams.

The indicative silver rate for 999-purity metal was approximately Rs 1,83,040 per kilogram. Buyers should confirm the latest local quotation before making a purchase because bullion prices can change throughout the trading session.

City-Wise Gold and Silver Rates on November 11

Note: These are indicative early-morning retail price quotations for November 11, 2026. Prices may vary by source, jeweller and time of purchase. Making charges and applicable taxes are not included.

Conclusion

Gold and silver prices recovered modestly on November 11 after a sharp decline in the previous session. However, stronger US inflation data and rising expectations of a December Federal Reserve rate hike remain important factors influencing precious metals.

For Indian buyers, city-wise retail rates offer a useful reference, but the final purchase price may differ depending on purity, taxes and jewellery charges. Investors and consumers should monitor international bullion movements, currency trends and central bank signals before making decisions.