Gold prices in India rose marginally over the past week, while silver witnessed a massive surge. Twenty-four-carat gold gained ₹260 per 10 grams, whereas silver jumped ₹16,000 per kg. Global cues, including expectations of US rate cuts, supported precious metals.
Weekly Gold Gains Continue as Silver Shines Bright
New Delhi: Gold prices in the domestic bullion market have continued to rise on a weekly basis, although the increase has been limited this time. Over the past week, 24-karat gold has become Rs 260 per 10 grams more expensive, while the price of 22-karat gold has increased by Rs 250. On December 21, 24-karat gold reached Rs 1,34,330 per 10 grams in Delhi.
Gold prices are also showing strength in the international market. The spot price of gold in the global market remains at $4,322.51 per ounce. Gold has received support after US Federal Reserve Governor Christopher Waller hinted at further interest rate cuts. Weakening US labor data has also increased demand for the precious metal.
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In the Delhi bullion market, the price of 24-karat gold is recorded at Rs 1,34,330 per 10 grams. 22-karat gold is trading at Rs 1,23,150 per 10 grams. The wedding season and investors' demand for safe-haven assets have supported the prices.
In major metropolitan cities like Mumbai, Chennai, and Kolkata, 24-karat gold is available at Rs 1,34,180 per 10 grams, while the price of 22-karat gold remains at Rs 1,23,000 per 10 grams. The same prices are observed in Pune and Bengaluru. In Jaipur, Lucknow, and Chandigarh, the rate for 24-karat gold is Rs 1,34,330 per 10 grams.
While gold saw a limited increase, silver surprised investors with a significant surge. Over the past week, the price of silver has increased sharply by Rs 16,000 per kilogram. On December 21, the price of silver reached Rs 2,14,000 per kilogram. In the international market, silver is trading at $65.85 per ounce.
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So far this year, silver prices have increased by approximately 126 percent. Industrial demand, growing investor interest, and global economic uncertainty have further boosted silver's appeal. Market experts believe that volatility in precious metals may continue in the coming period.
