Gold Rates Today Jump Sharply, Silver Rates At New High: What Is Driving 24K, 22K, 18K Gold Prices In Cities?

Gold rates in India recorded a sharp jump on December 3rd, with 100 grams gold in 24 carat rising by Rs 7,100 and 10 grams surging by Rs 710. Gold prices are seeing see-saw movement this week, but flirting around their all-time highs. MCX gold is near Rs 1.31 lakh mark. On the other hand, silver rates in India skyrocketed to hit new historic highs. Expectation of US Fed rate cut has been one of the key driving factor in precious metals. Although, the sentiment remains volatile.

Gold Rates In India:

In 24 carat, 10 grams gold price surged by Rs 710 to Rs 1,30,580, but the biggest surge was seen in 100 grams by Rs 7,100 to Rs 13,05,800. The cheapest 24 carat gold is at Rs 13,058 per 1 gram.

Meanwhile, 22 carat gold rate climbed by Rs 650 to Rs 1,19,700 per 10 grams, and was higher by Rs 6,500 to Rs 11,97,000 per 100 grams. The cheapest 22 carat is at Rs 11,970 per 1 gram.

Further, 18 carat gold prices recorded an upside of Rs 530 to Rs 97,940 per 10 grams, and climbed by Rs 5,300 to Rs 9,79,400 per 100 grams. The cheapest 18 carat also inched higher to Rs 9,794 per 1 gram.

Silver Rates In India:

The price of 1Kg silver climbed by a whopping Rs 3,000 to hit new historic high to Rs 1,91,000. While 100 grams and 10 grams silver is at Rs 19,100 and Rs 1,910. The cheapest silver is priced at Rs 191 per 1 gram.

MCX Gold Price + MCX Silver Price

MCX gold with February 2026 expiry, surged by Rs 1,081 or 0.83% to trade at Rs 1,30,840 per 10 grams, which is near its intraday high of Rs 1,30,955 per 10 grams. The bullion is couple of thousands away from its all-time high of Rs 1,34,024 per 10 grams.

On the contrary, MCX silver outperformed gold to hit new all-time high of Rs 1,85,248 per 1KG. MCX silver with February 2026 expiry is currently trading at Rs 1,85,150 per 1Kg, up by Rs 2,963 or 1.63%.

What Is Impacting Gold & Silver Prices?

According to Rahul Kalantri, VP Commodities, Mehta Equities, gold and silver remained highly volatile, recovering from the day's lows but ending slightly weaker. Expectations of further Fed easing supported sentiment as recent US data indicated mild economic softness, raising the probability of a rate cut next week to nearly 90%. Speculation about Kevin Hassett potentially replacing Jerome Powell as Fed chair also added a dovish tone.

What Is The Outlook For Gold & Silver Ahead?

In Kalantri's opinion, markets now await the ADP jobs report and delayed September PCE data for policy cues, while US Treasury yields eased after an earlier rise driven by a global bond sell-off. Gold has support at $4175-4145 while resistance at $4270-4295. Silver has support at $57.70-56.85 while resistance is at $58.95-59.45. In INR gold has support at Rs1,28,650-1,27,850 while resistance at Rs1,30,450-1,31,100. Silver has support at Rs1,80,750-1,79,200 while resistance at Rs1,82,810, 1,83,670.

Check Gold Rates In Major Cities:

Gold rates in Chennai:

10 grams gold price is at Rs 1,31,570 in 24 carat, at Rs 1,20,600 in 22 carat and at Rs 1,00,550 in 18 carat.

Gold Rates In Bengaluru:

10 grams gold price stood at Rs 1,30,580 in 24 carat, at Rs 1,19,700 in 22 carat and at Rs 97,940 in 18 carat.

Gold Rates In Hyderabad:

10 grams gold price stood at Rs 1,30,580 in 24 carat, at Rs 1,19,700 in 22 carat and at Rs 97,940 in 18 carat.

Gold Rates In Mumbai:

10 grams gold price stood at Rs 1,30,580 in 24 carat, at Rs 1,19,700 in 22 carat and at Rs 97,940 in 18 carat.

Gold Rates In Delhi:

10 grams gold price is at Rs 1,30,730 in 24 carat, at Rs 1,19,850 in 22 carat, and at Rs 97,940 in 18 carat.

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