Delhi Gold Rate: Once Unthinkable, Now Reality! 24K Explodes From Rs 77,000 to Rs 1.4 Lakh In Yr | 24 Dec Rate

Delhi Gold Rate Today: Thre record breaking run of gold continues to surprise investors as the precious metal broke another record on Wednesday, December 24. Gold rate in Delhi and other Indian cities saw a humungous jump today with prices of 24 karat gold inching closer to Rs 1.4 lakh mark. Meanwhile, Delhi silver rate also continued its historic run on Wednesday.

The sharp surge in precious metal prices has come as the global investors react to rising expectations of more United States Federal Reserve rate cut and growing geoopolitical tensions. Back in Delhi, the massive jump in gold rates today has come as a major setback for retail jewellery buyers who were planning to buy gold during the ongoing wedding season.

Delhi Gold Rate Today

The price of 24 karat gold in Delhi jumped nearly Rs 380 per 10 gram to Rs 1,39,080 per gram. Likewise the price of 22 karat gold in Delhi surged nearly Rs 350 per 10 gram to Rs 1,27,500 per 10 gram. Similarly, the price of 18 karat gold in Delhi jumped around Rs 290 per gram to Rs 10,435 per gram.

"Gold continues to hold steady, maintaining elevated levels after a strong surge in the previous few days. The fact that gold maintains elevated levels indicates that safe-haven demand has been strong, despite global uncertainties. Buyers feel comfortable at these levels, but some caution does dip into the markets due to the strong surge," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Gold's Journey From Rs 77,000 to Rs 1.39 Lakh in One Year

As per GoodReturns data, the gold rate in Delhi stood at Rs 77,600 per 10 grams on January 1. Fast forward to December 24, the yellow metal has witnessed a massive surge of nearly Rs 50,000, climbing to Rs 1,39,080 per 10 grams.

Delhi Silver Rate Today

The price of silver in Delhi has also surged significantly since the beginning of the year. Silver rate today in Delhi increased to Rs 233 per gram and to Rs 2,33,000 per kilogram. Silver prices in Delhi and across India has jumped nearly 170% since the beginning of the year.

"Silver prices have climbed further escalating from yesterday's strong move and holding fort at the levels around Rs 2 lakh. The rise in prices captures market expectations of robust demands for the metal as well as support from gold prices. Although the rise has been quite sharp, market sentiment remains positive, and volatility can be expected in the metal," Kamboj added.

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