Gold prices in India surged, with MCX gold nearing ₹1.31 lakh per 10 grams after a sharp jump of over ₹1,640, supported by global safe-haven demand and rate-cut hopes. City prices for 24K hovered around ₹1,30,600–₹1,30,580, while silver also advanced, reflecting firm international cues and renewed investor interest.
Indian bullion markets sparkled today as MCX gold climbed toward ₹1.31 lakh per 10 grams, with 24K rates reported around ₹1,30,630–₹1,30,580 in major cities. The move follows a notable day-on-day gain, with some gauges showing rises of around ₹1,100–₹1,640, underscoring strong domestic momentum amid global tailwinds.
In parallel, silver opened higher, with MCX data showing early strength before intraday swings, mirroring firm international sentiment. The broader precious metals rally reflects investors rotating into havens amid macro uncertainty and currency moves.
Major takeaways
MCX surge: 24K gold approached ₹1.31 lakh per 10g, marking a robust daily upswing across markets.
City benchmarks: 24K gold quoted near ₹1,30,630 (India average) and ₹1,30,580 (Mumbai), with 22K around ₹1,19,700.
Silver strength: Early gains in MCX silver complemented gold’s rise, tracking global cues.
Global drivers: Safe-haven demand and expectations of US Fed rate cuts buoyed prices.
Premium to Dubai: India’s 24K price remained notably higher than Dubai’s comparable rate on the day.
Notable updates
Intraday volatility: Prices oscillated after the opening pop; traders watched global spot moves and the dollar index closely.
Momentum context: Precious metals have firmed early in December, sustaining attention from retail buyers and allocators.
Conclusion: Today’s bullion bounce highlights gold’s appeal as a portfolio stabilizer amid shifting macro signals. With MCX gold flirting with ₹1.31 lakh and silver showing supportive strength, Indian markets are closely tethered to global narratives on rates, growth, and risk appetite.
Sources: LiveMint, Financial Express, News18, NewsX