Gold and Silver Rates Today, December 29: Continuing its upside momentum, gold and silver prices hit fresh all-time highs on Monday, December 29, amid safe-haven demand and expectations that US interest
rates will fall further next year. In Mumbai, the price of 24-carat gold stood at Rs 1,41,360 per 10 grams, while 22k gold was available at Rs 1,29,590 per 10 grams. These rates do not include GST and making charges. Silver was available at Rs 2,50,900 per kg in the spot market.
On the MCX, gold prices were trading high by 0.17 per cent to trade at Rs 1,40,106 per 10 grams for the February 5, 2026, contracts in the early trade, while silver surged 4.77% to trade at Rs 2,51,231 per kg for the March 5, 2026, contracts.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On December 29?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,29,590 | Rs 1,41,360 |
| Jaipur | Rs 1,29,590 | Rs 1,41,360 |
| Ahmedabad | Rs 1,29,490 | Rs 1,41,260 |
| Pune | Rs 1,29,590 | Rs 1,41,360 |
| Mumbai | Rs 1,29,590 | Rs 1,41,360 |
| Hyderabad | Rs 1,29,590 | Rs 1,41,360 |
| Chennai | Rs 1,29,590 | Rs 1,41,360 |
| Bengaluru | Rs 1,29,590 | Rs 1,41,360 |
| Kolkata | Rs 1,29,590 | Rs 1,41,360 |
In the international market also, gold prices surged to a record high in early Asian trading on Friday, buoyed by safe-haven demand and rising expectations of further interest rate cuts by the US Federal Reserve.
US spot gold rose to $4,515.6 per ounce. On the Comex, silver prices gained nearly 7 per cent touching a lifetime high of $80.77 per ounce in overseas trade.
“Silver is supported by strong industrial demand from new-age sectors, relatively cheap pricing compared to gold, and a sharp rally in the industrial metals after Trump’s tariff announcement in April 2025,” Pranav Mer of JM Financial Services, said.
Analysts said silver prices may move higher towards Rs 2,75,000 per kilogram on the MCX and $80-85 per ounce globally, due to global supplies constraints.
China is the world’s largest consumer of silver and a leading producer of solar panels, electronics and EVs, has announced export restrictions from January 1, 2026, requiring companies to obtain licences, a move expected to remain in place through 2027, and disrupt global supply chains.
Analysts added that the precious metal are poised to stay firm in 2026, with rate cuts, global trade tensions and industrial demand keeping bullion prices in focus.
Gold has surged more than 70% this year, its biggest annual gain since 1979, driven by safe-haven demand, expectations of US rate cuts, robust central-bank buying, de-dollarisation trends and ETF inflows, with traders pricing in two rate cuts next year.
Silver has jumped more than 150% over the same period, outpacing gold on strong investment demand, its inclusion on the US critical minerals list and momentum buying.
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.
