Gold and Silver Rates Today, December 27: Gold and silver prices extended.
Their upward momentum on Saturday, touching fresh highs amid strong safe-haven demand and growing expectations that US interest rates will ease further next year.
In Mumbai, 24-carat gold was priced at Rs 1,40,030 per 10 grams, while 22-carat gold stood at Rs 1,28,360 per 10 grams. The prices are exclusive of GST and making charges. Silver was trading at Rs 2,40,100 per kg in the spot market.
Gold prices at record highs globally
Internationally, gold prices surged to record levels, supported by persistent safe-haven buying and rising optimism over additional interest rate cuts by the US Federal Reserve.
Gold has climbed over 70% so far this year, marking its strongest annual performance since 1979. The rally has been driven by a combination of factors, including expectations of US rate cuts, aggressive central-bank purchases, de-dollarisation trends and increased inflows into gold-backed exchange-traded funds (ETFs). Markets are currently pricing in at least two rate cuts by the Fed next year.
Silver has outperformed gold, jumping more than 150% during the same period, buoyed by strong investment demand, its inclusion on the US critical minerals list and sustained momentum buying.
What influences gold prices in India?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,28,510 | Rs 1,40,180 |
| Jaipur | Rs 1,28,510 | Rs 1,40,180 |
| Ahmedabad | Rs 1,28,410 | Rs 1,40,080 |
| Pune | Rs 1,28,360 | Rs 1,40,030 |
| Mumbai | Rs 1,28,360 | Rs 1,40,030 |
| Hyderabad | Rs 1,28,360 | Rs 1,40,030 |
| Chennai | Rs 1,28,360 | Rs 1,40,030 |
| Bengaluru | Rs 1,28,360 | Rs 1,40,030 |
| Kolkata | Rs 1,28,360 | Rs 1,40,030 |
Gold prices in India are primarily influenced by global bullion rates, import duties, taxes and fluctuations in the rupee against the US dollar. These factors together determine daily price movements across domestic markets.
Beyond its role as an investment, gold holds significant cultural importance in India, especially during weddings and festive seasons, keeping demand resilient even during periods of price volatility.
With precious metal prices reacting sharply to global economic signals, investors and traders continue to closely track market movements. Staying updated on daily rates and underlying trends remains key to navigating the evolving commodities landscape.
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