After hitting record-highs in October 2025 — with global gold surging past US $4,381/oz and silver climbing above US $53-54/oz — both metals are now correcting sharply as we move into November. In India too, the domestic benchmarks have slid back from their peaks. This shift in momentum is prompting watchers of the today gold price and today silver price to ask: Why the fall? And how low could prices go?
What’s Happening in India
In India, the fall is already visible: according to recent data, gold futures on the Multi Commodity Exchange of India (MCX) touched around ₹1,21,822 per 10 g for 24K gold — a drop of more than 1% from previous levels. Silver on the MCX was quoted near ₹1,42,910 per kg, falling about 3%.
Moreover, in the Indian physical market silver’s premiums and demand have seen a sharp reversal. Earlier this month, in festival-driven buying phases, silver premiums in India rose to more than $5/oz above international rates; now they’re back to around $0.25-0.40/oz.
The Global Angle: U.S. & China
Globally, key developments are impacting the precious-metals dynamic. According to the London Bullion Market Association (LBMA) and major banks, gold is falling to near a three-week low as sentiment improves and safe-haven demand eases.
Major contributors:
- A stronger U.S. dollar and higher real yields are lessening the appeal of non-yield-bearing assets like gold and silver.
- News of potential trade progress between the Donald Trump and the Xi Jinping-led Chinese delegation has dampened the urgency for safe-haven metal buying.
- After the extended rally, many investors are executing profit-booking. The “safe-haven bounce” that propelled metals is now reversing.
Forecasts & Support Levels: How Low Could They Go?
Analysts cite key support zones:
- For gold: Support is noted near ~US $3,822/oz, and interim support around US $3,950/oz.
- For silver: The metal has broken its near-term support zone of US $47.50-47.80/oz and is now vulnerable toward US $44-45/oz in a weaker scenario.
In India, these international levels translate into domestic equivalents (subject to currency and local premia). Thus, in the short‐term:
- Gold could test ₹1,17,000-₹1,18,000 per 10 g if global cues weaken further.
- Silver might slide toward ₹1,38,000-₹1,40,000 per kg in a bear scenario.
Why This Correction Matters
While the metals’ advance in 2025 was driven by inflation fears, geopolitical risk and central-bank buying, the current slide reflects a shift: improved macro‐sentiment, less urgency for safe havens and rising alternatives (equities, alternative assets). If the global economy continues to stabilize, gold & silver may remain in a consolidation phase before the next leg.
For readers tracking gold price today, silver price today India, or planning entry points for bullion, the current phase is a correction not a collapse. Watch for policy signals from central banks, U.S.–China trade moves, and industrial demand trends to gauge the next directional move.
