Gold prices surpass ₹1.4 lakh/10g in Delhi markets on firm global trends; silver soars to ₹2.17 lakh/kg

Gold prices (24K, 99.9% purity) on Tuesday, December 23 jumped ₹2,650 to a fresh peak of ₹1,40,850 per 10 gram in Delhi, crossing the ₹1.4 lakh per 10 gram mark for the first time on the back of strong trends in the global markets.

The yellow metal closed at ₹1,38,200 per 10 gram on Monday, according to the All India Sarafa Association.

So far in 2025, gold prices have soared by as much as 78.4% when compared to ₹78,950 per 10 grams recorded on December 31, 2024.

Silver rallied as well, rising by ₹2,750 per kg to a fresh peak of ₹2,17,250 per kg after settling at ₹2,14,500 per kg on Monday. In the previous session, the white metal saw a sharp rise of ₹10,400 per kg. Silver has added ₹1,27,550, or 142.2%, since the start of this year, when the white metal was at ₹89,700 per kg. 

In the international markets, spot gold neared the $4,500-per-ounce milestone, rising by $54.3 (1.22%) to $4,498 per ounce on Tuesday. During 2025, spot gold prices have increased by $1,892.23, or 72.62%, from $2,605.77 per ounce, recorded on December 31, 2024.

"Gold has extended its sharp rally to almost $4,500 per ounce on geopolitical jitters and weaker dollar as markets expect the Federal Reserve to cut rates more than two times next year," a PTI report quoted Praveen Singh, Research Analyst, Mirae Asset ShareKhan, as saying.

Meanwhile, spot silver jumped 1.4% to breach the $70-per-ounce mark for the first time in overseas trade. So far this year, the white metal has soared by $41.03, or 141.62%, from $28.97 per ounce on December 31, 2024.

"Investors will now turn their attention towards the second estimate of third-quarter US GDP data, which is due later in the day and might provide clues into the health of the US economy and the future course of Federal Reserve's monetary policy outlook," the PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying. 

Gold, silver futures

Gold futures for February delivery touched a new record high on Tuesday, rising by ₹1,752 per 10 gram (1.28%) to ₹1,38,496 per 10 gram after closing at ₹1,36,744 per 10 gram on Monday. At around 8 pm, the contracts were trading 0.6% up at ₹1,37,650 per 10 gram on the Multi-Commodity Exchange (MCX).

Silver contracts for March expiry climbed to a lifetime high of ₹2,19,449 per kg on the MCX on Tuesday, increasing by as much as 3% after closing at ₹2,12,872 per kg on Monday. At around 8 pm, the futures contracts were trading 2.3% up at ₹2,17,809 per kg.