Gold Prices Today: Yellow Metal Rises, Check City-Wise Rates On December 23

Gold and Silver Rates Today, December 23: On MCX, gold futures jumped 1.12 per cent to trade at Rs 1,38,280 per 10 gram on Tuesday morning. Silver futures also saw a gain of 1.44 per cent to trade at Rs 2,15,934 per kg.

In Mumbai, the price of 24-carat gold at spot stood at Rs 1,36,310 per 10 grams, while 22k gold was available at Rs 1,24,960 per 10 grams. These rates do not include GST and making charges. Silver was available at Rs 2,13,900 per kg in the spot market.

Gold prices have rose to new levels from last week, thereby sustaining their safe-haven demand. The concerns about inflation, geopolitical tensions, and the resultant easing expectations in interest rates are thereby sustaining the prices, according to Aksha Kamboj, Vice President,

India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On December 23?

City	22K Gold (per 10gm)	24K Gold (per 10gm)
Delhi	Rs 1,25,110	Rs 1,36,460
Jaipur	Rs 1,25,110	Rs 1,36,460
Ahmedabad	Rs 1,25,010	Rs 1,36,360
Pune	Rs 1,25,010	Rs 1,36,360
Mumbai	Rs 1,24,960	Rs 1,36,310
Hyderabad	Rs 1,24,960	Rs 1,36,310
Chennai	Rs 1,24,960	Rs 1,36,310
Bengaluru	Rs 1,24,960	Rs 1,36,310
Kolkata	Rs 1,24,960	Rs 1,36,310

Gold exports from Switzerland fell 15% month on month in November as shipments to India dropped to their lowest since ‌February, ‌Swiss customs data showed on Thursday.

Demand in India has been affected by a ‍price rally which sent bullion to a record high of $4,381 per troy ounce in October. Spot prices are up 65% so far this year, heading for their biggest annual gain in 46 years, amid demand for safe-haven assets.

The Swiss data showed that gold exports to India fell to 2 metric ⁠tons in November from 26 tons ​in October, while supplies ‍to China, another major bullion consumer, climbed to 12 tons ‌from 2 tons.

Gold exports from Switzerland, the world’s ‌biggest bullion refining and transit hub, to Britain, home to the world’s largest over-the-counter gold trading hub, jumped to 45 tons last month, the highest ⁠since June, ⁠from 9 tons as bullion kept coming back from US stocks.

What Factors Affect Gold Prices In India?

International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.