Gold Rates Hit Back-To-Back New Records:100 Grams Up Rs 43,700 In 2 Days; 24K, 22K, 18K Gold Prices Outlook

Gold rates in India continue to hit back-to-back new record highs and December 23 is no different. On Tuesday, gold prices rallied by up to Rs 24,000 per 100 grams and Rs 2,400 per 10 grams in 24 carat. Notably, gold has logged two consecutive days record rally, with 100 grams and 10 grams gold skyrocketing by Rs 43,700 and Rs 4,370 during the period. Similarly, silver rates in India have touched a new all-time high as well, with 1Kg price reaching Rs 2,23,000 mark. The bullish trend in precious metals is due to holiday-shortened trading week and amidst geopolitical tensions.

"Gold and silver prices were sharply higher and hit record highs on Monday. Safe haven bidding is featured to start a holiday-shortened trading week, amid heightened geopolitical tensions," said Rahul Kalantri, VP Commodities, Mehta Equities.

The analyst added, intensifying US-Venezuela tensions and killing of a Russian army general in a bomb attack on Monday increased geo-political risk and supported gold and silver. Both precious metals also gained after cooling-off U.S. inflation and no bigger surprise from the Bank of Japan policy meetings last week.

Gold Rates In India:

24 carat gold price climbed by Rs 24,000 to Rs 13,85,500 per 100 grams, surged by Rs 2,400 to Rs 1,38,550 per 10 grams, rose by Rs 1,920 to Rs 1,10,840 per 8 grams, and was up by Rs 240 to Rs 13,855 per 1 gram.

Under 22 carat, 100 grams gold soared by Rs 22,000 to Rs 12,70,000, while 10 grams jumped by Rs 2,200 to Rs 1,27,000, 8 grams is up by Rs 1,760 to Rs 1,01,600 and 1 gram gold inched higher by Rs 220 to Rs 12,700.

Further, in 18 carat, 100 grams gold price climbed by Rs 18,000 to Rs 10,39,100, and the price of 10 grams gold advanced by Rs 1,800 to Rs 1,03,910 and 8 grams gold zoomed by Rs 1,440 to Rs 83,128. Lastly, 1 gram gold price is up by Rs 180 to Rs 10,391.

Yesterday, 100 grams and 10 grams gold price soared by Rs 19,700 and Rs 1,970 in 24 carat.

Silver Rates In India:

Silver is also at new record high. On December 23, 1Kg silver is priced at Rs 1,23,000, registering an upside of Rs 4,000. Meanwhile, 100 grams and 10 grams silver is at Rs 22,300 and Rs 2,230 respectively. The cheapest silver is priced at Rs 223 per 1Kg.

Gold & Silver Price Outlook:

According to Kalantri, gold has support at $4430-4285 while resistance at $4510-4545. Silver has support at $68.40-67.75 while resistance is at $70.00-70.90. In INR gold has support at Rs1,35,550-1,34,710 while resistance at Rs1,37,650-1,38,470. Silver has support at Rs2,11,150-2,10,280 while resistance at Rs2,13,810, 2,14,970.

MCX Gold Price + MCX Silver Price

MCX silver price with February 2026 expiry, surged to new all time high of Rs 2,17,638 per 1Kg in the early deal. At the time of writing, MCX silver traded at Rs 2,16,700, up by Rs 3,099 or 1.45%.

Meanwhile, MCX gold price with February 2026 expiry, rose by Rs 1,497 or 1.09% to trade at Rs 1,38,241 per 10 grams which is after hitting a new lifetime high of Rs 1,38,381 per 10 grams.

Should You Buy Gold & Silver At MCX?

Analysts at Nirmal Bang in their technical report dated December 23, said, "Gold prices are expected to rise. One can buy at 137800 with a stop loss of 137300. Prices are expected to test 138500-139000."

They added, "silver prices are expected to rise. One can buy at 215000 with a stop loss of 212500 for the target 218000-221000."

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