Strong Market Signals Push Precious Metals Higher Across Major Cities

Gold prices continued their upward climb on Friday, 14 November 2025, marking a significant rise on the day the Bihar election results were scheduled for announcement. Supported by positive global cues, a softer US dollar, and improving investor sentiment, gold is once again gaining momentum in the domestic market. Several international financial institutions also expect the metal to advance sharply in the coming years, adding to bullish expectations among investors.

Gold Prices Move Higher in the National Capital

In Delhi, the price of 24-carat gold rose to ₹128,780 per 10 grams, while 22-carat gold reached ₹115,190 per 10 grams. The upward trend mirrors strong overnight performance in the global market, where bullion prices strengthened after the US government shutdown came to an end and the dollar weakened further.

With the release of the Bihar election results adding an additional layer of market excitement, domestic demand is also seeing renewed traction. Jewellers report an uptick in inquiries as buyers anticipate even higher prices ahead.

Rates in Mumbai, Chennai and Kolkata

In Mumbai, Chennai and Kolkata, gold prices remained largely aligned with national trends.

• 22-carat gold: ₹117,910 per 10 grams

• 24-carat gold: ₹128,660 per 10 grams

These levels reflect stability across major metro markets, with minimal variation between western, southern and eastern regions.

Gold Prices in Pune and Bengaluru

Pune and Bengaluru registered similar price patterns.

• 22-carat gold: ₹117,910 per 10 grams

• 24-carat gold: ₹128,630 per 10 grams

Both markets have seen consistent demand through the festive season, helping keep prices firm over the past several weeks.

City-Wise Gold Prices on 14 November 2025

The uniformity in prices across different regions reflects steady buying interest and consistent wholesale trends.

Global Forecast: Experts Predict a Sharp Rally by 2026

According to a Bloomberg report, JP Morgan Private Bank expects gold prices to reach $5,000 per ounce in 2026.

Alex Wolf, the bank’s Global Head of Macro and Fixed Income Strategy, projects that gold may even climb to $5,200–$5,300 per ounce by the end of 2026.

Other major institutions have similar views:

• Goldman Sachs estimates gold could hit $4,900 per ounce by December 2026.

• ANZ Bank expects gold to reach $4,600 per ounce by mid-2026.

These strong long-term forecasts are driven by expectations of continued economic uncertainty, high global debt levels, and rising institutional investment in safe-haven assets.

Silver Prices Remain Firm

Silver also maintained its upward trend. On 14 November, silver prices in India climbed to ₹173,100 per kilogram. In the international market, spot silver strengthened to $53.86 per ounce.

Domestic silver prices are increasingly influenced by industrial demand, as the metal plays a crucial role in electronics, solar panels, and electric vehicle components.

What’s Driving the Precious Metals Rally?

The rising prices of gold and silver are a result of several global and domestic factors:

• Weakening US dollar

• End of the US government shutdown

• Increased safe-haven demand

• Strong central bank purchases worldwide

• Growing industrial consumption of silver

• Festive and wedding season buying in India

With these conditions in place, analysts expect precious metals to remain on an upward trajectory in the coming months.