Gold Rate In India Falls for 3rd Straight Day Ahead of New Year 2026; 24K, 22K,18K Gold Now Off Record High

The new year is just a day away, and gold rates in India are in ultimate correction mode and have fallen for the third consecutive day, bringing joy to gold enthusiasts and buyers. The 22-carat gold rate today fell by approximately Rs. 60,000 per 100 grams in the last three days after the record-breaking rally.

The US dollar, which recently rebounded from lows, is putting downward pressure on global gold rates, including in India. As a result, the yellow metal is now more affordable, especially during the high-demand season.

However, spot gold rebounded at Tuesday's close, rising 0.8% to settle at $4364.70 per ounce, as per Reuters. 2025 has been one of the best years for yellow metal, as it surged by almost 66%.

Now that the gold prices are dropping in India, many consumers are expected to take advantage of the lower rates and make fresh purchases of gold jewellery and coins on New Year 2026. The cheaper gold prices today may boost overall gold demand in India.

Gold Rate in India Today

As of today, 31st December, the 22-carat gold rate in India declined by Rs. 300 per 10 grams to cost Rs. 124,550 per 10 grams. While the 24-carat gold prices today fell by Rs. 320 and are currently retailing at Rs. 135,880 per 10 grams. Similarly, the 18-carat gold rate today also declined by Rs 240 per 10 grams to cost Rs 101,910.

In a similar manner, 100 grams of 22-carat gold stand at Rs 12,45,500 after dropping Rs 3000. While the24-carat gold price in India per 100 grams is now retailing at Rs 13,58,800, which dropped by Rs 3200.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures slated to mature on February 5, 2025, also saw a massive drop and are currently trading at Rs. 135,891 after slipping 0.57%. Similarly, silver futures, which are set to expire on March 5th, 2026, declined today by 5.62% to trade at Rs 223,900 at the time of writing.

City-Wise Gold Rates Today

Major metropolitan cities in India, including Chennai, Mumbai, Bangalore, and Hyderabad, mirrored this drop in the gold rates today. Here's the latest city-wise update on 22-carat and 24-carat gold rates on 31st December 2025.

In Bangalore, the gold rate for 24-carat is Rs. 95,730 per 10 grams, and the 22-carat gold rate in Bangalore is Rs. 87,750 per 10 grams.

In Hyderabad, the 24K gold price is Rs. 95,730 per 10 grams, and the 22K gold rate in Hyderabad is Rs. 87,750 per 10 grams.

In Mumbai, the 22-carat gold rate is Rs. 95,730 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs. 87,750 per 10 grams.

Silver Rate in India Today

Silver prices in India today observed no major movement, so 1 kg of silver in India costs Rs. 240,000. While 100 g of silver rates in India cost Rs 24,000.

Market Outlook for Gold Prices

"Gold prices are expected to pull back. One can buy at 135500 with a stop loss of 135000 for the target at 136200-137000. Traders can also sell from 138000 with a stop loss of 138500." As per Nirmal Bang Securities.

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