Another Big Jump in Gold Rate Today: 24K, 22K,18K Prices Hit Record High in Bengaluru, Chennai & Hyderabad

Gold prices today surged sharply across major Indian cities, touching record-high levels as strong festive demand and global cues pushed bullion prices higher. Gold rates in Chennai, Bengaluru and Hyderabad underwent a sharp jump as the year-end festive season around Christmas and New Year fuelled fresh buying interest among jewellery buyers and investors. The rising demand for gold and silver ahead of celebrations, weddings, and the gifting season has played a key role in lifting gold prices further.

In the international market, gold prices jumped to a record high, crossing the $4,400 per ounce level for the first time on Monday. The surge in global gold prices has been driven by growing expectations of further US interest rate cuts and rising safe-haven demand amid global economic uncertainty.

Along with gold, silver prices also witnessed a sharp rally, hitting an all-time high in international markets.

Here are the latest gold prices in your city on Dec 22

Bangalore Gold Rates & Silver Rates

Gold rates in Bangalore today spiked big time. The 24-carat gold, which now costs Rs. 135,000 per 10 grams after rising Rs. 1100. While 22-carat is retailing at Rs. 124,000, which jumped by Rs. 1000 per 10 grams.

The silver rate in Bangalore today jumped for the second consecutive time and cost Rs 219,000 after rising by Rs 5000, while per 100 grams it jumped by Rs 500 to cost Rs 21,900.

Chennai Gold and Silver Prices

The 22-carat gold rate in Chennai zoomed by Rs. 800 to Rs. 124,800, and the 24-carat gold price surged by Rs. 870 to Rs. 136,150 per 10 grams.

Silver prices in Chennai today rose by Rs. 5000, which is currently priced at Rs. 230,000, while 100 grams of silver costs Rs. 23,000.

Hyderabad Gold and Silver Prices

Gold prices in Hyderabad also surged on December 22, and the 24-carat gold rose by Rs. 1100 to Rs. 135,280 per 10 grams, and 22-carat gold spiked by Rs. 1000 to Rs. 124,000. The 18-carat gold rate also surged by Rs. 820, standing at Rs. 101,460 per 10 grams.

Silver prices in Hyderabad today rose to Rs. 231,000, adding Rs. 5000 per kg, and 100 grams of silver gained Rs. 500 to retail at Rs. 23,100.

MCX Gold & Silver Futures Performance

On the Multi-Commodity Exchange, Gold February Futures surged by 1.23% to Rs 135,844 per 10 grams. The Silver March futures rose today by 2.09% to Rs 212,801 per kg on December 22.

"MCX Gold Feb has been hovering in a tight range of ₹133,300 and ₹135,600 for the last 5 days. A move outside of the range would bring clarity in the price trend. A move above ₹135,600, it would rise towards ₹138,000. • MCX Silver March holds strong support at the ₹205,000 level and moves higher towards ₹212,800. Above ₹212,800 it would rise toward ₹215,500." according to the ICICI Direct Commodity Research Report.

Global Gold and Silver Spot Rates

According to Reuters, "Spot gold was up 1.4% at $4,397.16 per ounce as of 0502 GMT, after breaking the $4,400 barrier to hit a record high of $4,400.29 earlier in the day. Spot silver climbed 3.3% to hit a historic high of $69.44."

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