On December 25, 2024, gold prices in India experienced a notable rise, as investors kept a close eye on the latest consumer confidence statistics and the strengthening of the dollar. These factors, combined with global monetary policy uncertainties, contributed to fluctuations in the precious metal market. The rise in gold prices this year—over 27%—can be attributed to US monetary easing, safe-haven demand, and large-scale purchases by central banks around the world. However, as the outlook for US monetary policy in 2025 becomes clearer, analysts anticipate fewer rate cuts in the upcoming year, which could keep gold prices volatile.
In India, 22K gold is now priced at Rs 7,100 per gram, while 24K gold costs Rs 7,745 per gram. The price of 22K gold for 100 grams has increased by Rs 1,000, reaching Rs 7,10,000 today, compared to Rs 7,09,000 yesterday. The price for 10 grams of 22K gold also rose by Rs 100, from Rs 70,900 on Tuesday to Rs 71,000 on Wednesday.
Similarly, the price of 24K gold has risen by Rs 1,000 for 100 grams, with the price now standing at Rs 7,74,500 compared to Rs 7,73,500 yesterday. For 10 grams, 24K gold costs Rs 77,450 today, up from Rs 77,350 on Tuesday. The 18K gold rate also saw a minor increase, with 10 grams now costing Rs 58,090, a rise of Rs 80 from the previous day. The price of 100 grams of 18K gold also went up by Rs 800, reaching Rs 5,80,900 today, compared to Rs 5,80,100 on Tuesday.
In addition to gold, silver prices in India also saw a slight increase. The price of silver reached Rs 91.50 per gram and Rs 91,500 per kilogram on Wednesday. Compared to Tuesday’s rates, silver prices saw a minor uptick of Rs 0.50 per gram and Rs 100 per kilogram. Ten grams of silver will cost Rs 915 today, up from Rs 914 yesterday, and 100 grams of silver will be priced at Rs 9,150, compared to Rs 9,140 the day before.
As gold prices continue to rise and silver sees gradual increases, both metals remain highly influenced by global economic factors and investor sentiment. The outlook for gold remains uncertain, with fluctuating monetary policies and demand dynamics set to impact the market in 2025.
