Gold futures for December delivery decreased by Rs 1,481 or 1.19% to Rs 1,22,710 per 10 grams on the Multi-Commodity Exchange on Monday, November 24, as investors anticipate significant US economic data that may provide insight into the Federal Reserve’s potential rate cut in December. Establish a complimentary Demat account in a matter of minutes! Become a member today. In a similar vein, the yellow metal contract set to expire in February 2026 experienced a decline of Rs 1,542, or 1.23%, trading at Rs 1,24,308 per 10 grams as of approximately 10:20 am.
Over the past week, the safe-haven metal future for the December contract experienced an increase of Rs 630, representing a rise of 0.51%. On a global scale, Comex gold futures experienced an increase of $51.4, reflecting a rise of 1.25%. The yellow metal exhibited volatility over the past week, influenced by hawkish commentary from Fed officials, diminishing expectations for a rate cut at the Fed’s December meeting, and the strengthening of the US dollar. On the MCX, silver contracts for the December expiry were priced at Rs 1,52,980 per kilogram, reflecting a decrease of Rs 1,171 or 0.76%. The future price of the white metal for delivery in March 2026 declined by Rs 1,388, representing a decrease of 0.88%, settling at Rs 1,56,489 per kilogram.
Over the course of the last week, silver futures scheduled for December delivery experienced a decrease of Rs 1,867, reflecting a decline of 1.12%. In the international markets, Comex silver futures experienced a decline of 1.52%. Internationally, Comex gold was trading at $4,075.40 per ounce, reflecting a decline of 0.99%. On Monday, Comex silver experienced a decline of 0.78%, settling at $49.53 per troy ounce. Analysts indicated to PTI that investors would be attentive to significant US economic data releases, such as GDP and inflation figures, along with indications from the Federal Reserve’s December policy meeting to gain insight into the direction of interest rates.
The emphasis will also be on economic indicators including weekly jobless claims, consumer confidence, ISM Non-Manufacturing PMI, and Personal Consumption Expenditures inflation data, which are anticipated to provide additional insights into the Federal Reserve’s rate trajectory, they noted. Last week, the minutes from the latest Federal Open Market Committee meeting indicated that policymakers might maintain elevated rates until 2025, reducing the odds of a rate cut in December to 36%.