Gold and silver prices in the domestic market continued their upward momentum ahead of Christmas. For the third consecutive day, both precious metals witnessed gains, with gold becoming costlier after a brief pause and silver extending its rally. Here’s a detailed look at today’s gold and silver prices across key Indian cities and what may influence their future movement.
As Christmas approaches, the Indian bullion market has seen renewed strength in gold and silver prices. On December 24, gold prices moved higher for the third straight session, reflecting sustained demand and supportive global cues. After remaining largely stable earlier in the week, gold prices have picked up pace once again, adding to the festive-season buzz in the precious metals market.
In the national capital Delhi, the price of 24-carat gold increased by ₹10 per 10 grams, while 22-carat gold also became costlier by the same margin. Over the last three days, 24-carat gold prices have surged by ₹4,380 per 10 grams, while 22-carat gold has gained ₹4,010 per 10 grams. This steady rise highlights strong buying interest despite elevated price levels.
Silver, too, has continued to shine alongside gold. In Delhi, silver prices have climbed for the third day in a row after remaining unchanged for a session earlier. Over the last three trading days, silver prices have jumped by ₹9,100 per kilogram, underlining the metal’s sharp short-term momentum.
Here’s how much 10 grams of gold costs across key cities in India, based on purity levels:
Delhi
24-carat: ₹1,38,710
22-carat: ₹1,27,160
18-carat: ₹1,04,070
Mumbai
24-carat: ₹1,38,560
22-carat: ₹1,27,010
18-carat: ₹1,03,920
Kolkata
24-carat: ₹1,38,560
22-carat: ₹1,27,010
18-carat: ₹1,03,920
Chennai
24-carat: ₹1,39,320
22-carat: ₹1,27,710
18-carat: ₹1,06,510
Bengaluru
24-carat: ₹1,38,560
22-carat: ₹1,27,010
18-carat: ₹1,03,920
Hyderabad
24-carat: ₹1,38,560
22-carat: ₹1,27,010
18-carat: ₹1,03,920
Lucknow
24-carat: ₹1,38,710
22-carat: ₹1,27,160
18-carat: ₹1,04,070
Patna
24-carat: ₹1,38,610
22-carat: ₹1,27,060
18-carat: ₹1,03,970
Jaipur
24-carat: ₹1,38,710
22-carat: ₹1,27,160
18-carat: ₹1,04,070
Ahmedabad
24-carat: ₹1,38,610
22-carat: ₹1,27,060
18-carat: ₹1,03,970
Prices may vary slightly depending on local taxes, making charges, and jeweller margins.
Silver prices have shown strong volatility in recent sessions. After remaining unchanged for a day, silver prices jumped sharply, gaining ₹5,000 per kilogram on one session, followed by a brief decline of ₹2,000 earlier. Over the last three days, however, the overall trend has remained positive.
On December 24, silver is trading at ₹2,23,100 per kilogram in Delhi, up ₹100 from the previous session. Prices in Mumbai and Kolkata are also hovering around the same level. Chennai continues to report the highest silver prices among major metros, where the metal is selling at ₹2,34,100 per kilogram.
Market experts remain bullish on gold’s long-term outlook. Renowned American economist and market strategist Ed Yardeni believes gold could witness a historic rally by the end of this decade. According to reports, Yardeni has projected that gold prices may rise to $10,000 per ounce by 2029.
Currently, international gold prices on the New York-based COMEX exchange are trading close to $4,400 per ounce. If this projection plays out, Indian gold prices could see a rise of nearly 127 percent over the next few years, potentially pushing domestic prices beyond ₹3 lakh per 10 grams.
Yardeni has emphasized that gold continues to play a crucial role in investment portfolios, particularly during periods of economic uncertainty. Historical trends suggest that major gold rallies often extend far beyond initial expectations.
Several factors are influencing gold and silver prices, including global economic uncertainty, expectations around interest rates, currency movements, and festive-season demand. With investors seeking safe-haven assets and demand remaining firm, precious metals are likely to stay in focus in the coming weeks.
Disclaimer:
The views and recommendations mentioned above are those of individual experts and brokerage firms. The platform and its management are not responsible for these opinions. Investors are advised to consult certified financial advisors before making any investment decisions.
