Gold prices gained on November 5, tracking a recovery in international bullion markets as the US dollar softened and investors bet on stable Federal Reserve rates. Spot gold rose to about $2,365 per ounce, while on the Multi Commodity Exchange (MCX), domestic futures climbed by ₹200–₹300 per 10 grams.
In India, 24-carat gold averaged ₹73,000 per 10 grams and 22-carat around ₹67,000 across major metros including Delhi, Mumbai, and Bengaluru. The uptrend came after a brief dip last week, as safe-haven buying strengthened amid geopolitical tensions and steady treasury yields.
Silver, however, remained unchanged, hovering near $27.6 per ounce globally and ₹89,500 per kg in Indian markets. Analysts said muted industrial demand and investor caution ahead of key US data kept silver’s movement limited.
Experts expect gold to trade in a narrow band in the near term, with festive demand in India and global uncertainties lending support. As traders await fresh cues from inflation and employment data, bullion may continue to hold its current gains through the week.