Gold prices today: Gold prices resumed their winning streak on Tuesday, November 25, with the December futures contract on MCX gaining 1.3% to an intraday high of ₹125,521 per 10 grams.
The rebound in the yellow metal was triggered by a string of weaker-than-expected US data, which strengthened expectations of a Federal Reserve rate cut in December.
US retail sales rose just 0.2% in September, slowing from August’s 0.6% gain and missing forecasts of a 0.4% increase, while ADP reported that private employers shed an average of 13,500 jobs per week in the four weeks ending November 8, a marked deterioration from prior weeks.
Meanwhile, producer price figures indicated that inflation pressures remained broadly consistent with expectations.
Bullion surged nearly 2% on Monday after Fed Governor Christopher Waller expressed support for a December rate cut, citing persistent weakness in the US labor market.
His comments echoed those of San Francisco Fed President Mary Daly and New York Fed President John Williams. Markets now assign an 81% probability to a 25bps cut in December, up sharply from around 40% a week ago.
Axis Securities projects ₹1.40–1.45 lakh targets for 2026
Axis Securities, in its outlook, noted that gold continues to display a strong structural uptrend on the monthly timeframe. The breakout above the multi-month resistance zone near ₹101,500– ₹106,000 has been decisive, supported by expanding bullish candles and healthy volume follow-through.
The brokerage said the price is trading well above both the 9- and 60-month SMA, confirming long-term trend strength and sustained institutional buying. Post-breakout, gold has shown strong momentum, recently hitting a fresh lifetime high near ₹1,32,000.
Axis Securities added that as long as the price holds above Rs102,000, the trend remains firmly bullish with potential for further highs in 2026. “Traders may consider accumulating gold on dips in the range of ₹117,000– ₹108,000, with an upside potential target of ₹140,000 and ₹145,000 by the end of 2026,” said the brokerage.
(With inputs from Reuters)
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