
Gold prices slipped on Friday, following weakening expectations of a potential US Federal Reserve rate cut in December after the delayed US jobs report. The sentiment pushed both domestic and global gold rates down, while silver also traded lower across markets.
In Mumbai, the price of 24-carat gold stood at Rs 1,24,250 per 10 grams, whereas 22-carat gold was priced at Rs 1,13,890 per 10 grams. These rates exclude GST, making charges, and other levies. Silver prices in the spot market were recorded at Rs 1,64,900 per kilogram.
On the Multi Commodity Exchange (MCX), gold futures for December 5 delivery dropped by 0.16%, trading at Rs 1,22,531 per 10 grams. Silver futures also witnessed a decline of 1.14%, trading at Rs 1,52,400 per kilogram.
Gold and silver rates across major cities remained mostly uniform, with the following prices recorded on November 21:
| City | 22K Gold (10g) | 24K Gold (10g) |
| Mumbai | Rs 1,13,890 | Rs 1,24,250 |
| Hyderabad | Rs 1,13,890 | Rs 1,24,250 |
| Chennai | Rs 1,13,890 | Rs 1,24,250 |
| Bengaluru | Rs 1,13,890 | Rs 1,24,250 |
Gold traders and investors are now closely tracking upcoming US economic updates for further cues on price movement in the global bullion market.