Gold and Silver Prices Surge to Record Highs This Year

Gold and silver prices touched historic highs this year, and market experts believe the same trend could continue into the coming year. However, with the onset of the holiday season, analysts expect a slight correction in gold and silver prices during the current week. Reduced trading activity amid Christmas and New Year holidays may lead to temporary price moderation. In India, gold and silver have already recorded fresh record levels. According to Good Returns data, as of 6:30 AM on December 22, the price of 24-carat gold stood at ₹1,34,170 per 10 grams, while 22-carat ornamental gold was priced at ₹1,22,990. Silver prices remained firm at ₹2,13,900 per kilogram.

Market observers note that trading activity is likely to slow further from Wednesday due to the festive holiday period. Meanwhile, MCX gold futures rose by 0.43 percent to hit an all-time high of ₹1,35,530. Experts attribute the strong demand for gold to a weakening US dollar and growing expectations of interest rate cuts by the US Federal Reserve. Silver, however, outperformed gold last week, delivering substantial gains to investors. Prices surged by 8.08 percent over the week, driven by geopolitical uncertainties and supply constraints. In the international market, silver prices are currently hovering at a record level of $67.55 per ounce, while 24-carat gold is trading at $4,365 per ounce.

Gold Prices Across Major Indian Cities (per 10 grams)

Chennai: 24K ₹1,35,270 | 22K ₹1,23,990 | 18K ₹1,03,440

Mumbai: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

New Delhi: 24K ₹1,34,320 | 22K ₹1,23,140 | 18K ₹1,00,780

Kolkata: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Bengaluru: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Hyderabad: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Vijayawada: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Kerala: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Pune: 24K ₹1,34,170 | 22K ₹1,22,990 | 18K ₹1,00,630

Vadodara: 24K ₹1,34,220 | 22K ₹1,23,040 | 18K ₹1,00,680

Ahmedabad: 24K ₹1,34,220 | 22K ₹1,23,040 | 18K ₹1,00,680

Silver Prices Across Major Indian Cities (per kg)

Chennai: ₹2,25,900

Mumbai: ₹2,13,900

New Delhi: ₹2,13,900

Kolkata: ₹2,13,900

Bengaluru: ₹2,13,900

Hyderabad: ₹2,25,900

Vijayawada: ₹2,25,900

Kerala: ₹2,25,900

Pune: ₹2,13,900

Vadodara: ₹2,13,900

Ahmedabad: ₹2,13,900

Note: Gold and silver prices are subject to frequent fluctuations in the market. Buyers are advised to recheck the latest rates before making any purchase decisions.