Gold Price Today: Gold and Silver Prices Continue Upward Trend on December 26; Analysts Predict Further Gains

The upward trend in gold prices continued robustly on December 26, capturing the attention of both investors and consumers, while according to morning figures, the price of 24-carat gold in the capital city of Delhi rose to ₹139410 per 10 grams, indicating strong market demand and positive sentiment. Similarly, in Mumbai, a key financial hub, the price of 24-carat gold reached ₹139260 per 10 grams, highlighting the escalating costs of the precious metal across major Indian cities. This surge is a result of a combination of global market trends and sustained domestic demand for gold.

Gold Prices Across Major Indian Cities

Gold prices for different purities varied across India's major cities. In Delhi, where 24-carat gold was priced at ₹139410 per 10 grams, 22-carat gold was quoted at ₹127810 per 10 grams, while this difference clearly illustrates the price variation based on the purity of the gold. In metropolitan areas such as Mumbai, Chennai, and Kolkata, the price for 22-carat gold stood at ₹127660 per 10 grams, while 24-carat gold was stable at ₹139260 per 10 grams, while this indicates that the price of 24-carat gold in these cities is slightly lower than in Delhi, but the 22-carat prices are nearly identical, reflecting regional market dynamics.

Prices in Other Key Locations

Pune and Bengaluru also mirrored similar trends in gold prices, while in both these cities, 24-carat gold was priced at ₹139260 per 10 grams, and 22-carat gold was at ₹127660 per 10 grams. These figures align with those observed in Mumbai, Chennai, and Kolkata, suggesting a uniformity in gold market pricing across the western and southern regions of the country. Ahmedabad and Bhopal saw 24-carat gold at ₹139310 per 10 grams and 22-carat gold at ₹127710 per 10 grams, which is slightly lower than Delhi but marginally higher than Mumbai. Jaipur, Lucknow, and Chandigarh reported prices identical to Delhi, with 24-carat gold at ₹139410 and 22-carat gold at ₹127810 per 10 grams.

International Market Performance and Future Outlook

In the international market, the spot price of gold reached $4,525. 96 per ounce, underscoring gold's strong global position, while year-to-date, gold has strengthened by an impressive 73. 7 percent, making it an attractive investment option amidst global economic uncertainties. Numerous analysts anticipate that the upward momentum in gold will. Persist into the next year, fostering a positive market sentiment. Notably, Goldman Sachs has projected that gold could reach $4,900 per ounce by December of next year. This forecast is primarily driven by the expectation that several central banks worldwide will continue their gold purchasing activities, thereby boosting demand and providing strong support to prices.

Silver Prices Witness Significant Surge

Mirroring gold's performance, silver prices also experienced a significant surge on December 26, while the price of silver climbed to ₹234100 per kilogram, presenting another positive indicator for investors in precious metals. On December 25, in Indore's bullion market, silver had already risen by ₹1000. To reach ₹221000 per kilogram, marking a substantial increase from the previous day. The international spot price for silver has now reached $72, while 70 per ounce, which reflects strong global demand for the metal. This year alone, silver prices in international markets have seen an impressive increase of. 151 percent, while the domestic market recorded an even higher surge of 153 percent. This indicates a solid bullion market for both gold and. Silver, with expectations for continued appreciation in the near future.