Gold Steady, Silver Hits 200,000 Rupees/kg Record in India

Gold prices remained steady across major Indian cities on December 12, following a recent uptick driven by a U.S. Federal Reserve interest rate cut, while silver reached a historic milestone by surpassing 200,000 rupees per kilogram for the first time in the domestic spot market.

In Mumbai, 24-carat gold traded at 130,760 rupees per 10 grams, with 22-carat gold at 119,860 rupees per 10 grams, excluding goods and services tax and making charges. Similar rates prevailed in other key cities, including Delhi and Jaipur at 130,910 rupees for 24-carat per 10 grams, and Ahmedabad, Pune, Hyderabad, Chennai, Bengaluru, and Kolkata at 130,760 to 130,810 rupees. These figures reflect a stabilization after a sharp increase earlier in the week, influenced by global market movements. On the Multi Commodity Exchange, gold futures for February 2026 delivery rose 0.20 percent to 132,737 rupees per 10 grams, while silver futures for March 2026 fell 0.37 percent to 198,212 rupees per kilogram.

Internationally, spot gold climbed 1.80 percent to 4,271.65 dollars per ounce, and silver surged 4.95 percent to 63.55 dollars per ounce as of mid-morning Indian Standard Time. The Federal Reserve's 0.25...