Gold prices fall ₹1,29,400/10 gm amid global uncertainty over Fed rate cut, silver rates tumble ₹4,200; check details

Gold prices (24K, 99.9% purity) fell by ₹1,500 to ₹1,29,400 per 10 gm in Delhi on Friday, November 14, due to weak global trends after the US Federal Reserve officials indicated that the lack of fresh economic data could delay further rate cuts. 

The precious metal of 99.5% purity declined by ₹1,500 to ₹1,28,800 per 10 gm after closing at ₹1,30,300 per 10 gm on Thursday, according to the All India Sarafa Association.

Silver prices also fell on Friday, closing ₹4,200 down at ₹1,64,800 per kg after closing at ₹1,69,000 per kg on Thursday. 

In the overseas market, spot gold fell by $33.58, or nearly 1%, to $4,137.88 an ounce, while spot silver was trading 0.49% lower at $52.03 per ounce.

As per experts, gold prices eased at the end of the week due to uncertainty over the US Fed rate cut.

"Gold prices stayed weak, as comments from Federal Reserve members suggesting that the lack of fresh economic data could delay further rate cuts dampened sentiment in bullion. The dollar index strengthened, adding additional pressure on gold," a PTI report quoted Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, as saying.

Gold, silver futures

Gold futures for December delivery fell by 3.8% to an intraday low of ₹1,21,895 per 10 gm on the Multi Commodity Exchange on Friday. At around 7 pm, the contracts were trading 3.4% down at ₹1,22,400 per 10 gm.

Silver contracts, too, declined significantly on Friday, falling by as much as 4.7% to an intraday low of ₹1,54,823 per kg during the session. At around 7 pm, the December futures were trading 4.7% down at ₹1,54,836 per kg on the MCX.

"The US government has reopened, and as a result of all these concerns about inflation and the slowdown, there was some decline in silver prices as expectations changed to suggest that the Fed might not be ready to cut rates aggressively," another PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying.

Chainani said that the probability of another 25 bps rate cut in December by the Fed has dropped to 50% now, from 95% in October, while expectations for 2026 haven’t changed.