Gold, Silver Prices Trade Higher — Check Rates In Delhi, Mumbai And Other Cities

Gold prices in India rose slightly to Rs 1,34,390, with silver also witnessing a considerable rise at Rs 1,97,840 on Monday, according to the India Bullion Association.

Meanwhile, spot gold held steady after a week of consecutive sessions of gains. Bullion hovered near $4,314.50 an ounce, showing little change.

Bloomberg has reported that gold has surged almost 65% this year and silver has more than doubled, with both on track for their best annual performances since 1979. The rallies have been on the back of elevated central-bank buying and caution by investors over sovereign bonds and currencies.

On Monday, the Finance Ministry said in parliament that the recent surge in prices of the precious metals is largely attributable to "heightened geopolitical tensions and uncertainty over global growth", which have boosted safe-haven demand.

In New Delhi, the price stood at Rs 133,920 per 10 gm, and in Mumbai, it stood at Rs 134,150 on Monday.

In Bengaluru, the rate stood at Rs 134,250, while in Kolkata, it was Rs 133,970 per 10 gm. The price of the precious commodity in Chennai was the highest at Rs 134,540 per 10 gm.

The 3-month forward prices for the yellow metal are at $4,332.70.

The precious metal's price rose to trade at Rs 197,840 per kilogram on Dec. 16, according to the India Bullion Association. The white metal hit a record of $64.31 an ounce last week.

The 3-month forward prices for the white metal were trading higher at $63.84, while spot silver was marginally lower at $63.72.