Gold Rates Jump By Rs 6,500 In Bengaluru, Hyderabad, Up Rs 5,500 In Chennai After Crash: 24K, 22K, 18K Gold

Gold rates in India climbed sharply on December 17, recovering from their previous losses. 24 carat gold price surged by Rs 6,500 per 100 grams and by Rs 650 per 10 grams in cities like Bengaluru and Hyderabad. However, gold price in Chennai soared only by Rs 5,500 per 100 grams and Rs 550 per 10 grams. While gold flirts around its all-time high, silver rates skyrocketed to a new peak. On Wednesday, silver rate in India jumped by a whopping Rs 8,900. The performance comes at a time when the latest US jobs data delivered a mixed performance. The trend in precious metals continue to be volatile.

Gold Rates In India:

Gold Rates In Bengaluru:

In 24 carat, 100 grams gold price zoomed by Rs 6,500 to Rs 13,45,100, 10 grams surged by Rs 650 to Rs 1,34,510, 8 grams rose by Rs 520 to Rs 1,07,608 and 1 gram gold is up by Rs 65 to Rs 13,451.

Meanwhile, in 22 carat, 100 grams gold rate soared by Rs 6,000 to Rs 12,33,000, 10 grams jumped by Rs 600 to Rs 1,23,300, 8 grams advanced by Rs 480 to Rs 98,640. The cheapest gold rate was of Rs 12,330 per 1 gram, which is up by Rs 60.

Under 18 carat, 100 grams gold price skyrocketed by Rs 4,900 to Rs 10,08,800, 10 grams rose by Rs 490 to Rs 1,00,880, 8 grams inched higher by Rs 392 to Rs 80,704 and 1 gram gold is up by Rs 49 to Rs 10,088.

Gold Rates In Hyderabad:

Gold prices in Hyderabad are same as Bengaluru. That means, gold prices are up by Rs 6,500 to Rs 65 in 24 carats, climbed by Rs 6,000 to Rs 60 in 22 carat and surged by Rs 4,900 to Rs 49 in 18 carat.

What Is Impacting Gold & Silver Prices?

According to Rahul Kalantri, VP Commodities, Mehta Equities, gold and silver witnessed sharp volatility but ended largely flat in international markets. While optimism over a potential Russia-Ukraine peace deal weighed on prices, weaker-than-expected U.S. ADP employment data and a softer dollar index lent support. Rising tensions between the U.S. and Venezuela also boosted safe-haven demand. A record-low rupee against the U.S. dollar supported domestic bullion prices.

Markets remain cautious ahead of the BOJ policy meeting.

Furthermore, Kaynat Chainwala, AVP Commodity Research, Kotak Securities explained that silver extended its remarkable rally, breaking above the $66 per ounce level for the first time on record, driven by a combination of tight physical supply conditions, rising safe-haven demand, strong inflows into silver-backed ETFs, and growing expectations of US Federal Reserve rate cuts. Investment demand remains robust as silver-backed ETFs continue to attract buying interest, with global holdings on pace for a sixth consecutive week of inflows. Momentum has been further amplified by reports that China plans to restrict silver exports from 2026, a development that could disrupt a key supply source and intensify pressure on the global market. With Chinese silver inventories already at their lowest levels in a decade, any export curbs risk worsening the physical squeeze, reinforcing the bullish narrative and potentially sustaining elevated prices in the near term. On the MCX, silver jumped above Rs. 205,000 per 10 grams, pushing year-to-date gains to about 134%, further buoyed by rupee depreciation.

Meanwhile, silver rate in Bengaluru surged by Rs 8,900 to Rs 2,08,000 per 1Kg. The prices were at Rs 20,800 per 100 grams and Rs 2,080 per 10 grams.

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