16 December,2025 11:05 AM IST | Mumbai | mid-day online correspondent
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Gold prices declined on Tuesday as investors engaged in profit-booking, easing rates across major Indian cities. In Mumbai, the price of 24-carat gold was quoted at Rs 1,33,860 per 10 grams, while 22-carat gold was priced at Rs 1,22,700 per 10 grams. The rates are exclusive of goods and services tax (GST) and making charges.
Silver prices remained elevated, with the metal trading at Rs 1,99,100 per kg in the spot market.
Gold rates across key cities on December 16 showed marginal variations. In Delhi and Jaipur, 22-carat gold was priced at Rs 1,22,850 per 10 grams, while 24-carat gold stood at Rs 1,34,010 per 10 grams. Ahmedabad reported slightly lower rates, with 22-carat gold at Rs 1,22,750 and 24-carat gold at Rs 1,33,900 per 10 grams.
In Mumbai, Pune, Hyderabad, Chennai, Bengaluru and Kolkata, gold prices were largely uniform, with 22-carat gold quoted at Rs 1,22,700 per 10 grams and 24-carat gold at Rs 1,33,860 per 10 grams.
After recording about threefold surge in the inbound shipments in October, the country's gold imports dipped about 60 per cent to USD 4 billion in November, according to commerce ministry data.
Gold imports stood at USD 9.8 billion in November 2024.
Cumulatively, imports during April-November this fiscal year rose 3.3 per cent to USD 45.26 billion from USD 43.8 billion a year ago.
The country's gold imports surged about threefold year-on-year to hit a record high of USD 14.72 billion in October.
The dip in gold imports has helped narrow the country's trade deficit (difference between imports and exports) to a five-month low of USD 24.53 billion during November.
Prices of the yellow metal on Monday crossed Rs 1.35 lakh per 10 grams in the national capital.
Commenting on the data, Commerce Secretary Rajesh Agrawal said the dip in imports has brought down the country's import bill.
Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent).
The precious metal accounts for over 5 per cent of the country's total imports.
The imports from Switzerland dipped by 82.54 per cent to USD 837.7 million in November. In April-November this fiscal, inbound shipments dipped 13.32 per cent to USD 16.22 billion.
India is the world's second-biggest gold consumer after China. The imports mainly take care of the demand by the jewellery industry.
India's current account deficit (CAD) narrowed to 0.2 per cent of the GDP, or USD 2.4 billion, during the April-June period of 2025-26 compared to 0.9 per cent of the GDP, or USD 8.6 billion, in the year-ago period, helped by services exports.
