Gold Market Recap: Fed Rate Cut Hopes Push MCX Gold to ₹1,25,999 on 28 November 2025
Gold prices surged on November 28, with MCX futures crossing ₹1,25,999. Hopes of a US Fed rate cut and strong demand continued to fuel the rally.
⚡ Key Highlights
- 1MCX gold futures soared to a high of ₹1,25,999 per 10 grams.
- 2Strong global cues were driven by hopes of a US Fed rate cut.
- 3Gold is poised for its best yearly performance in a remarkable 46 years.
- 4Silver stole the show, with futures hitting a new record high.
- 5India announced plans to boost domestic mining to influence global gold prices.
The Indian gold market continued its brilliant run on Friday, 28 November 2025, as the yellow metal shined brightly for both investors and shoppers. Prices surged on strong global cues, with futures on the Multi Commodity Exchange (MCX) hitting a significant milestone of ₹1,25,999 per 10 grams. This marks the fourth consecutive monthly gain for gold, capping a historic year for the precious metal.
The primary driver behind today's rally is the growing expectation of an interest rate cut by the US Federal Reserve. This "global rate-cut buzz" makes non-yielding assets like gold more attractive to international investors. The sentiment was further bolstered by reports of strong underlying demand for the metal. While the daily gain was a modest 0.10%, it builds on a powerful upward trend. In major cities like Delhi, Mumbai, and Chennai, both 24K and 22K gold rates reflected this positive momentum, keeping jewelry buyers on high alert.
While gold's performance has been impressive, its sister metal, silver, has been the real star. News headlines highlighted a staggering surge in silver prices, with futures soaring to a record high above $56 per ounce. One report even declared silver "the new king," noting its incredible performance this year. This broad-based strength in precious metals indicates a strong risk-off sentiment among global investors.
Looking at the bigger picture, 2025 is shaping up to be a landmark year