November 2025 has opened with a cautiously stable tone across commodity markets. Gold prices are holding near ₹63,000 per 10 grams, supported by safe-haven demand and central bank buying, even as equity markets reach new highs.
The global economy’s mixed signals — with inflation easing in some regions but energy volatility persisting — have kept investors diversified. Analysts suggest that gold may remain within the ₹62,000–₹65,000 range through December, depending on U.S. Federal Reserve decisions and oil price stability.
Silver has also performed strongly, touching ₹74,500 per kg, driven by renewed industrial demand for solar and electronics manufacturing. The broader precious metals market remains supported by India’s festive and wedding season demand, which peaks in November.
Industrial metals like copper and aluminium have seen minor corrections, down about 2–3% month-on-month. However, domestic demand remains resilient due to India’s infrastructure and manufacturing growth. The ongoing expansion in electrical, automotive, and construction sectors continues to sustain long-term demand for base metals.
Crude oil remains a critical variable. Brent crude is trading around $94–95 per barrel amid production cuts by OPEC+ and ongoing tensions in the Middle East. While this raises import costs, India’s government has maintained a buffer through strategic reserves and long-term supply contracts.
In agricultural commodities, edible oil and sugar prices have stabilized after months of volatility. Strong domestic harvests and timely imports have prevented supply shocks.
Experts believe that the overall outlook for commodities remains cautiously positive. “India’s industrial demand is acting as a stabilizing force in global commodity trade,” said commodity strategist Vivek Shah. “Even when prices correct globally, India’s steady consumption keeps markets supported.”
For investors, gold and silver remain attractive hedges amid global uncertainty. For manufacturers, stable input costs in metals and energy could support profit margins in the coming quarters.
Overall, the November commodity market paints a picture of equilibrium — steady demand, limited volatility, and cautious optimism ahead of 2026.