Gold prices in India rise by as much as Rs 1,000 in 22K and 24K on the occasion of Christmas, December 25th. Gold rebounded owing to a surge in demand due to the festive season, and a spike in international prices amidst holiday shortened-trading week. Similarly, silver prices jumped as well. Investors continue to gauge at US Federal Reserve's probability of rate cuts in 2025.
Gold Prices In India:
24K gold prices surged by Rs 1,000 in 100 grams to Rs 7,74,500, while 10 grams gold is up by Rs 100 to Rs 77,450. Further, 22K gold prices climbed by Rs 1,000 and Rs 100 in 100 grams and 10 grams to Rs 7,10,000 and Rs 71,000 respectively. Moreover, the 18k gold price soared by Rs 800 to Rs 5,80,900 in 100 grams and higher by Rs 80 to Rs 58,090 in 10 grams.
The cheapest price of gold in India is currently Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). Further, the cheapest 18K silver price is Rs 5,809.
Gold Prices In Major Cities:
Gold Prices In Chennai: The price of gold in Chennai is currently at Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). The cheapest 18k is at Rs 5,865 per 1 gram.
Gold Prices In Mumbai: The price of gold in Mumbai is currently at Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). The cheapest 18K is at Rs 5,809 per 1 gram.
Gold Prices In Kolkata: The price of gold in Kolkata is Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). The lowest 18k gold price is at Rs 5,809 per 1 gram.
Gold Prices In Bangalore: The price of gold in Bangalore is Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). The lowest price of gold in 18k is at Rs 5,809 per 1 gram.
Gold Prices In Delhi: The price of gold in Bangalore is currently at Rs 7,100 per gram for 22-karat gold and Rs 7,745 per gram for 24-karat gold (also called 999 gold). The cheapest gold in 18K is priced at Rs 5,822 per 1 gram.
The price of silver in India is Rs 91.50 per gram and Rs 91,500 per kilogram. These prices were up by Rs 0.10 to Rs 100 in silver.
Notably, in cities like Chennai, Hyderabad and Kerala, the silver price was expensive at Rs 99,000 per 1 kg.
MCX Gold, Silver Prices:
MCX gold price with February 2025 expiry, stood at Rs 76,243 per 10 grams on December 24th. Trading on MCX was closed due to the Christmas holiday on December 25.
Spot Gold Prices:
As per Trading Economics, gold rose above $2,610 per ounce on Tuesday, recouping losses from the previous session amid subdued holiday-season trading.
What Is Driving Gold?
Trading Economics data showed that investors continued to assess the Federal Reserve's outlook for next year, factoring in a slower pace of rate hikes in 2025 after the Fed signalled fewer reductions. However, this view was challenged by softer-than-expected US PCE inflation, suggesting the possibility of more rate cuts, which benefits non-yielding gold.
Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold's status as a safe-haven asset, with central banks as net buyers for over 15 years. The metal is on track for a 27% surge this year, heading for its best performance since 2010, driven by central bank buying, geopolitical tensions, and easing by major banks, it added.
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