Delhi & Mumbai Gold Rates Remain Stable Amid Global Market Pause (18 November 2025)

Published on: 18-11-2025 Call CA Tally HelpDesk +91 9205471661, 8368262875

The gold market in India continued its steady performance on 18 November 2025, with both Delhi and Mumbai recording stable price movements. Despite global economic uncertainties and cautious international trading activity, the domestic bullion market showed resilience, supported by sustained retail demand and moderated investment buying.

Steady Day for Gold Prices in Delhi

In Delhi, gold prices remained largely unchanged throughout the trading session. Market experts observed that the capital city’s bullion activity moved in sync with international spot prices, which hovered in a narrow range as global traders awaited key economic indicators from the United States.

Retail footfall in prominent jewellery markets such as Karol Bagh, Chandni Chowk, and South Delhi areas remained healthy due to the ongoing wedding season. Jewellers reported that customers preferred BIS-hallmarked jewellery, gold coins, and 22-carat ornaments, reflecting a shift toward certified and transparent transactions.

Analysts believe that Delhi’s gold market is likely to stay steady unless a major global event triggers a sudden shift in international prices.

Mumbai Market Mirrors National Sentiment

Mumbai, India’s biggest bullion trading hub, displayed a similar trend with no sharp fluctuations in gold prices. Traders in Zaveri Bazaar stated that the market maintained balanced activity, driven by moderate wholesale demand and consistent wedding-related purchases.

The city’s investment demand also remained stable, with buyers adopting a wait-and-watch approach. Some investors chose to accumulate small quantities of gold, taking advantage of the steady price band, while others preferred waiting for potential dips.

Mumbai’s trading pattern closely followed global cues, making it one of the most sensitive cities to international market movements.

Global Pause Keeps Indian Prices Steady

The stability in Indian gold prices was influenced largely by a subdued global market. Two key international factors shaped today’s price direction:

1. Mild Softness in the US Dollar

A weaker US Dollar Index prevented gold from sliding, offering support at lower levels.

2. Interest Rate Expectations

Global investors expect central banks, especially the US Federal Reserve, to maintain policy stability. With little chance of rate hikes in the near term, gold remained steady as a preferred safe-haven asset.

These global factors helped Indian markets avoid intraday volatility and remain comfortably positioned.

Gold Investment Demand Shows Positive Outlook

Although the day saw minimal price movement, investment demand in gold continued to display strength. Gold ETFs recorded modest inflows, indicating that investors still see gold as a reliable long-term hedge against inflation and geopolitical risk.

Sovereign Gold Bonds (SGBs) also remained attractive for long-term buyers due to interest earnings and tax-free maturity benefits. Jewellers noted that consumers increasingly prefer certified gold coins, especially during seasonal festivities and weddings.

Wedding Season Supports Retail Momentum

The wedding season remains one of the strongest drivers of gold demand in both Delhi and Mumbai. Retailers reported increased sales of bridal sets, temple jewellery, and lightweight modern designs catering to younger buyers.

Consumers are now more aware of gold purity standards, opting for hallmark-certified jewellery and transparent pricing. This industry-wide shift toward authenticity and quality has brought more confidence to retail buyers.

Short-Term Market Outlook

Market analysts expect the gold rate to remain within a stable range in the coming weeks, barring any major shifts in global economic indicators. Much will depend on:

• US inflation data
• Movement of the dollar
• Global central bank decisions
• Geopolitical developments

For now, the steady demand from weddings combined with a global market pause is helping Delhi and Mumbai maintain a balanced gold rate environment.

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