On Monday, November 10, gold and silver prices climbed as global markets strengthened. Weak U.S. economic data and expectations of a Federal Reserve rate cut in December boosted safe-haven demand.

In India, 24K gold traded at ₹12,322 per gram, while 22K gold was priced at ₹11,295 per gram, and 18K gold at ₹9,242 per gram. Silver stood at ₹152.40 per gram or ₹152,000 per kilogram.

Internationally, spot gold rose 1.4% to $4,053.40 per ounce, and silver gained 1.8% to $49.18 per ounce. Analysts attributed the rally in precious metals to heightened concerns over a global economic slowdown and speculation about an earlier-than-expected monetary policy easing by the Fed.

Strong trader demand for gold pushed prices higher, fueled by expectations of a potential rate cut next month—despite the Fed downplaying such possibilities. A series of weak U.S. economic indicators, including rising unemployment in government and retail sectors, a surge in layoffs, and a prolonged 40-day government shutdown, have raised fears about growth prospects. Consequently, the dollar weakened, driving investors toward gold.