Gold prices opened higher on Christmas morning, continuing their strong upward momentum in both domestic and international markets. Silver also witnessed a sharp rise, reinforcing bullish sentiment in precious metals. Analysts attribute this surge to global economic uncertainty, sustained central bank buying, and optimistic forecasts from major financial institutions.
According to market data, spot gold in the international market is trading at $4,525.96 per ounce, reflecting continued strength. In the domestic market, gold prices edged higher across major cities, with both 22-carat and 24-carat gold recording gains. The rally comes at a time when global investment banks remain highly optimistic about gold’s long-term prospects.
On December 25, gold prices showed an upward trend in key urban markets. 24-carat gold is trading close to ₹1.39 lakh per 10 grams, while 22-carat gold is hovering above ₹1.27 lakh per 10 grams in several cities. The price movement highlights sustained investor interest in gold as a safe-haven asset amid global volatility.
So far this year, gold has delivered an impressive return, gaining over 73 percent on a year-to-date basis. Market experts believe the rally is being supported by expectations of monetary easing in major economies, geopolitical tensions, and steady demand from institutional buyers.
Here is a snapshot of today’s gold prices in major cities:
Delhi:
22-carat gold: ₹1,23,140 per 10 grams
24-carat gold: ₹1,39,090 per 10 grams
Mumbai, Chennai, Kolkata, Hyderabad, Pune, Bengaluru:
22-carat gold: ₹1,27,360 per 10 grams
24-carat gold: ₹1,38,940 per 10 grams
Ahmedabad:
22-carat gold: ₹1,27,410 per 10 grams
24-carat gold: ₹1,38,990 per 10 grams
Jaipur and Lucknow:
22-carat gold: ₹1,27,510 per 10 grams
24-carat gold: ₹1,39,090 per 10 grams
Chandigarh:
22-carat gold: ₹1,27,510 per 10 grams
24-carat gold: ₹1,39,090 per 10 grams
Bhopal:
22-carat gold: ₹1,27,410 per 10 grams
24-carat gold: ₹1,34,220 per 10 grams
Prices may vary slightly depending on local taxes, making charges, and jeweller margins.
Adding to the positive sentiment, Goldman Sachs has projected that gold could reach $4,900 per ounce by December next year. The investment bank expects continued buying by global central banks, which has been a key driver of gold’s rally over the past year.
Central banks across the world have been increasing their gold reserves as part of diversification strategies and to hedge against currency risks. This sustained demand, combined with limited supply growth, is expected to keep gold prices elevated in the medium to long term.
Silver prices also climbed on December 25, mirroring gold’s upward trend. In the domestic market, silver prices jumped to ₹2,33,100 per kilogram, while spot silver in international markets rose to $72.70 per ounce.
Silver has significantly outperformed many asset classes this year. In overseas markets, silver prices have surged by around 151 percent, while in the domestic market, the metal has recorded a massive 153 percent increase so far in 2025. Strong industrial demand, especially from renewable energy and electronics sectors, has played a major role in silver’s rally.
Market experts advise investors to remain cautious despite the strong rally. While the long-term outlook for gold and silver remains positive, short-term volatility cannot be ruled out due to changes in global interest rate expectations and currency movements.
Gold and silver continue to be preferred hedging instruments during periods of uncertainty. With festive and wedding-season demand also picking up, precious metals are likely to remain in focus in the coming weeks.
As global cues and domestic demand continue to influence prices, investors are advised to track daily rate movements and consider their investment horizon before making fresh allocations.
