Bullion markets across India witnessed a significant surge on Tuesday, Dec.23 with both gold and silver prices rising, according to the India Bullion Association.
Driven by a combination of global geopolitical tensions, a weakening US dollar, and aggressive central bank buying, the domestic price of 24-karat gold surged past the Rs 1,37,070 per 10-gram mark, while silver neared the Rs 2,12,860 per kilogram milestone in major cities.
Gold Rates Today
In Mumbai, the financial capital, 24-karat gold is trading at approximately Rs 1,36,820 per 10 grams. This was the same rate as yesterday with no change at all. The price for 22-karat gold, commonly used for jewellery, stands at Rs 1,25,418 per 10 grams.
In the national capital, Delhi, prices remained slightly higher due to local taxes and demand, with 24-karat gold quoted at Rs 1,36,590 per 10 grams and 22-karat gold at Rs 1,25,208. Chennai saw even steeper rates, with 24-karat gold touching Rs 1,37,220 per 10 grams, while Bengaluru was at Rs 1,36,930 per 10 gms.
Silver Rates Today
Silver has outperformed gold in terms of percentage gains this year, fueled by robust industrial demand and its appeal as a safe-haven asset.
Today, silver prices in Mumbai reached Rs 2,12,110 per kilogram. In cities like Chennai, Hyderabad, and Bengaluru, the "white metal" touched Rs 2,13,100, Rs 2,12,820, and Rs 2,12,650 respectively.
Gold Rates City-Wise
The following rates are as per 10 grams of gold.
Mumbai: Rs 1,36,820
Delhi: Rs 1,36,590
Bengaluru: Rs 1,36,930
Chennai: Rs 1,37,220
Hyderabad: Rs 1,37,040
Kolkata: Rs 1,36,640
Pune: Rs 1,36,820
International Gold And Silver Rate
Spot gold prices surged to a record high, driven by increasing demand for safe-haven assets amid escalating geopolitical tensions and expectations of US interest rate cuts. The price jumped $80.85, or 1.86%, to reach $4,420.35 per ounce.
Other precious metals also saw gains, with silver increasing 0.5% to $69.39, platinum rising 0.7%, and palladium up 0.2%, reports Bloomberg.
As the holiday season approaches, analysts expect some consolidation, but the overall bias remains bullish. For the most accurate and live tracking of bullion prices, investors are advised to check bullions.co.in for real-time updates and city-specific fluctuations.
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