Gold Rates Outlook For Dec-29 To Jan-2: 24K, 22K, 18K Gold Prices: Will MCX Gold Hit Rs 1.50 Lakh Next Week?

Gold rates in India are at their all-time highs on Sunday, December 28, as they take a breather from their unstoppable record rally. Gold prices will continue to be in focus in the coming days due to persistent demand for safe haven assets amidst geopolitical tensions and further expectations of rate cuts in 2026. In India, gold has crossed Rs 1.40 lakh per 10 grams in 24 carat, and silver has surpassed the threshold of Rs 2.5 lakh per 1Kg. But at MCX, analysts are now expecting the 10 grams gold to hit near Rs 1.50 lakh and MCX silver to breach Rs 2.5 lakh during the trading week from December 29 to January 2nd.

Gold Rates In India:

10 grams gold price is at Rs 1,41,220 in 24 carat. The same 10 grams price stood at Rs 1,29,450 in 22 carat and at Rs 1,05,920 in 18 carat.

Meanwhile, 100 grams gold is at Rs 14,12,200 in 24 carat, at Rs 12,94,500 in 22 carat and at Rs 10,59,200 in 18 carat.

Gold Prices In India Performance In Past 10 Days:

Gold prices are unchanged on December 28. But, 100 grams gold price surged by a whopping Rs 12,000 on December 27, while the same gold was up by Rs 7,700 on December 26, higher by Rs 3,200 and Rs 3,800 on December 25th and December 24th respectively. This gold reported a huge climb of Rs 24,000 on December 23rd after rising by Rs 19,700 on December 22nd. Hence, gold prices have been on the surge for six consecutive days.

Gold prices were unchanged on December 21st and 20th. But in the past 10 days, the only time gold dropped was on December 19th to the tune of Rs 6,600 in 100 grams. Prior to this, gold was up by Rs 3,300 on December 18th.

Silver Rates In India:

The price of 1Kg silver is locked at its new all-time high to Rs 2.51 lakh. Additionally, 100 grams and 10 grams silver rates stood at Rs 25,100 and Rs 2,510 respectively. The cheapest silver is priced at Rs 251.

MCX Gold Price + MCX Silver Price

MCX gold price with February 2026 expiry, closed at Rs 1,39,940 per 10 grams on Friday, higher by Rs 67 or 0.05%. This comes after the bullion hit a new all-time high of Rs 1,40,465 per 10 grams during the session.

Additionally, MCX silver price soared by Rs 1,334 or 0.55% to end at Rs 2,41,696 per 1Kg on December 26th, after touching a new peak of Rs 2,42,500.

Gold & Silver Prices Outlook For December 29 To January 2:

As per analysts at SMC Global Securities, gold prices closed the week on a strong note, trading near $4,510 per ounce on Friday, just shy of the all-time high above $4,525 recorded earlier in the week. The rally was driven by persistent safe-haven demand amid escalating geopolitical tensions and growing expectations of U.S. interest rate cuts. On a weekly basis, gold gained over 3%, while silver surged more than 11%, reflecting heightened investor risk aversion. Geopolitical concerns remain a key catalyst. Nearly ten days after U.S. President Donald Trump announced a blockade on Venezuelan oil tankers, fears of disruptions to global energy supply have intensified.

Furthermore, the analysts pointed out that ongoing hostilities between Russia and Ukraine, coupled with a recent U.S. military strike against ISIS targets in Nigeria, have further supported demand for precious metals. The rally has also been underpinned by robust central bank purchases, sustained ETF inflows, and rising investor anxiety over currency debasement and escalating global debt levels.

Market participants continue to position for easier monetary policy, with futures pricing in two 25-basis-point rate cuts by the Federal Reserve next year, as inflation moderates and labor market conditions soften, despite mixed signals from Fed officials.

Year-to-date, gold has surged more than 70%, marking its strongest annual performance since 1979. Silver has significantly outperformed, rising approximately 158%, supported by a structural supply deficit, strong industrial demand, and its recent designation as a U.S. critical mineral, as per the analysts.

From a technical perspective, these analysts added, "COMEX gold, trading near record highs, could test the $4,700 level, while dips may find support around $4,200. Silver is expected to trade in the $66-$83 range. In the coming week, domestic prices may see gold fluctuate between ₹1,31,000-₹1,48,000, while silver could trade between Rs 2,20,000- Rs 2,50,000."

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