Gold prices in India are expected to face various influences in the coming days, with global New Year's holidays impacting market activities, alongside uncertainties in equity markets and geopolitical tensions. Additionally, the market is eyeing potential policy changes in 2025, with much speculation about Trump 2.0, which could further affect gold prices.
As of the early hours of December 30, spot gold prices remain strong, holding above $2,620 per ounce. This marks an impressive 28% year-to-date gain, with silver prices also experiencing upward movement. The current price for 24K gold stands at Rs 77,830 per 10 grams, while 22K gold is priced at Rs 71,340 per 10 grams, and 18K gold at Rs 58,370 per 10 grams. For those purchasing in smaller quantities, 22K gold is priced at Rs 7,134 per gram, 24K gold at Rs 7,783 per gram, and 18K gold at Rs 5,837 per gram.
Silver prices also remain high, with 1 gram priced at Rs 92.50 and 1 kilogram priced at Rs 92,500. In certain regions like Chennai, Hyderabad, and Kerala, silver prices are even higher, at Rs 99,800 per kilogram. Last week, the MCX gold price for February 2025 expiry was Rs 76,536 per 10 grams, while silver prices with a March 2025 expiry stood at Rs 88,882 per 10 grams. The outlook suggests a continuation of these trends, influenced by global factors and domestic market sentiments.
