Gold prices on December 31: Check rates for Mumbai, Delhi and other cities

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Gold prices edged lower in early trade on Wednesday, with the rate of 24-carat gold slipping by Rs 10 to Rs 1,36,190 per 10 grams. Silver prices also witnessed a decline, falling by Rs 100 to Rs 2,39,900 per kilogram.

The price of 22-carat gold also eased by Rs 10, with 10 grams trading at Rs 1,24,840.

Across major cities, 10 grams of 24-carat gold was priced at Rs 1,36,190 in Mumbai and Kolkata, while the rate stood higher at Rs 1,37,450 in Chennai. In the national capital, Delhi, the same quantity was selling at Rs 1,36,340.

For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru and Hyderabad stood at Rs 1,24,840 per 10 grams, while Chennai recorded a higher rate of Rs 1,25,990. In Delhi, 10 grams of 22-carat gold was priced at Rs 1,24,990.

Silver prices remained uniform at Rs 2,39,900 per kilogram in Delhi, Kolkata and Mumbai. In Chennai, however, silver was trading at a higher level of Rs 2,57,900 per kilogram.

Silver futures drop 4.6 pc after record rally this year

Meanwhile, precious metals, especially silver, took a breather on the final trading day of the year on Wednesday, after a run‑up to record high followed by aggressive profit booking.

Silver futures for March 2026 on MCX tumbled 4.63 per cent to Rs 2,39,395 per kg and gold futures for February 2026 slipped 0.51 per cent to Rs 1,35,973 per 10 grams in morning trade.

Volatility remained elevated amid geopolitical tensions such as US strikes on Venezuela's dock facilities and Chinese naval exercises that bolstered safe‑haven demand earlier in the week.

The retreat came after sharp gains through most of 2025. Silver has gained 24 per cent in December and 135 per cent year-over-year, reflecting tight supply-demand fundamentals and robust safe-haven flows, said analysts.

Domestic spot gold prices have surged over 76 per cent year-to-date and international gold prices over 70 per cent in 2025, on track for their strongest annual performance since 1979.

Silver has support at Rs 2,45,150-Rs 2,42,780 while resistance at Rs 2,54,810-Rs 2,56,970 zones, he added.

Aggressive central bank buying, expectations of US Fed rate cuts, concerns over impact of US tariffs, geopolitical tensions, and robust inflows into gold and silver ETFs drove the gold and silver prices this year.

A recent report from Motilal Oswal Financial Services Ltd. said that persistent inventory drawdowns across key global hubs, weakening arbitrage between Shanghai and COMEX, and repeated delivery pressures have exposed the limited availability of deliverable silver.

(With inputs from Agencies)