The price of 10 grams of 24-carat gold jumped by Rs 820 to Rs 1,34,730, while 22-carat gold rose by Rs 750 to Rs 1,23,500. Eighteen-carat gold gained Rs 620 to settle at Rs 1,01,050 per 10 grams
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Gold prices in India surged to fresh all-time highs on December 15 across all major purities, while silver prices continued to trade above the Rs 2 lakh mark, supported by strong global cues and a weaker US dollar.
Gold prices
Gold rates recorded sharp gains across 24-carat, 22-carat and 18-carat categories. The price of 10 grams of 24-carat gold jumped by Rs 820 to Rs 1,34,730, while 22-carat gold rose by Rs 750 to Rs 1,23,500. Eighteen-carat gold gained Rs 620 to settle at Rs 1,01,050 per 10 grams.
On a larger scale, prices of 100 grams of gold climbed by Rs 8,200, Rs 7,500 and Rs 6,200 for 24-carat, 22-carat and 18-carat gold respectively, touching new record levels of Rs 13,47,300, Rs 12,35,000 and Rs 10,10,500.
On a per-gram basis, the cheapest gold was priced at Rs 13,473 for 24-carat gold, Rs 12,350 for 22-carat gold and Rs 10,105 for 18-carat gold, also referred to as 999 gold.
Silver prices
Silver prices also witnessed strong gains. The price of 1 kg of silver surged by Rs 2,900 to hit a new lifetime high of Rs 2,00,900. Meanwhile, silver prices for 100 grams and 10 grams stood at Rs 20,090 and Rs 2,009, respectively.
Gold and silver prices across major cities
In Chennai, the price of 10 grams of 24-carat gold stood at Rs 1,35,930, while silver was priced at Rs 2,13,000 per kg, making it the most expensive among major cities.
In Mumbai, 10 grams of 24-carat gold was priced at Rs 1,34,730, with silver at Rs 2,00,900 per kg.
In Delhi, gold was trading at Rs 1,34,880 per 10 grams (24 carat), while silver stood at Rs 2,00,900 per kg.
In Bengaluru, gold prices matched Mumbai levels at Rs 1,34,730 per 10 grams (24 carat), with silver priced at Rs 2,00,900 per kg.
In Hyderabad, 10 grams of 24-carat gold was also priced at Rs 1,34,730, while silver was higher at Rs 2,13,000 per kg.
MCX update: Gold, silver rally on weak dollar
Meanwhile, gold and silver prices rallied sharply in early trade on Monday on the Multi-Commodity Exchange (MCX), tracking positive global cues and weakness in the US dollar.
Gold February futures on the MCX were trading 0.72 per cent higher at Rs 1,34,580 per 10 grams during early trade. Silver March contracts also saw strong buying interest, rising 1.36 per cent to Rs 1,95,466 per kg.
The precious metals had seen sharp volatility in the previous session. On Friday, December 12, MCX gold February futures surged nearly Rs 2,800, or over 2 per cent, to hit a record high of Rs 1,35,263 per 10 grams. However, profit booking at higher levels pulled prices off their peak, with gold ending the session 0.82 per cent higher at Rs 1,33,551.
Silver also touched a fresh lifetime high in the previous session, with MCX silver March contracts jumping Rs 2,700, or 1.3 per cent, to Rs 2,01,615 per kg. Heavy profit booking later led to a sharp correction, and silver settled 3.33 per cent lower at Rs 1,92,318 per kg.
What is driving bullion prices
The gains on Monday morning were supported by a weaker US dollar and softer bond yields. The dollar index slipped around 0.10 per cent, while the benchmark 10-year US Treasury yield eased to 4.18 per cent. A weaker dollar and lower yields typically enhance the appeal of non-yielding assets such as gold and silver.
Gold and silver prices have remained on a strong upward trajectory since the US Federal Reserve announced a 25-basis-point interest rate cut on December 10. Expectations of further rate cuts by the US Fed have been a key factor underpinning bullion prices this year.
Additionally, sustained central bank buying, healthy inflows into gold and silver exchange-traded funds, rising geopolitical tensions and uncertainty over the global economic outlook, particularly amid concerns around US tariffs, have further supported the rally in precious metals.
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