Gold rebounds after sharp fall, silver lags: What should Indian investors watch

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Gold prices edged higher on MCX following a recovery in international bullion, while silver remained under pressure amid global rate hike expectations.

Gold prices edged higher on the Multi Commodity Exchange (MCX) on Friday, November 13, as bargain buying emerged after a sharp correction in the previous session. Silver, however, continued to trade under pressure, reflecting a relatively weaker recovery in the white metal.

On the MCX, December gold futures were trading at ₹1.36 lakh per 10 grams, up 0.39%, while December silver futures were quoted at ₹1.78 lakh per kg, down 0.14%.

The recovery in gold follows a sharp decline on Thursday (November 12), when international prices touched their lowest level since October 2025. Gold subsequently rebounded as investors looked to buy at lower levels, although concerns over US inflation, interest rates and a stronger dollar continue to influence sentiment.

International spot gold rose 1.1% to $3,918.59 per ounce on Friday (November 13), while spot silver gained 0.5% to $50.27 per ounce.

The latest recovery in gold appears to be driven partly by bargain buying and adjustments in investor positions after the steep sell-off.

Kelvin Wong, Senior Market Analyst at OANDA, said the recovery was largely a positioning adjustment after short-term momentum indicators had reached extremely oversold levels following Thursday's decline.

He also pointed to US Treasury yields and the dollar as important factors influencing gold's near-term direction.

A sudden reversal in Treasury yields could slow the dollar's strength and provide support to gold, Wong said.

The US Federal Reserve's interest rate outlook has emerged as a key driver for precious metals. Markets are currently pricing in an 89% probability of a 25-basis-point rate hike in December, according to CME FedWatch data cited by Reuters.

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