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Gold Inches Up, Silver Crosses Rs 2 Lakh Mark Amid Global Slump

Gold and silver showed mixed signals in Thursday's trading session. Domestically, spot gold saw a marginal rise while silver impressively crossed the Rs 2 lakh per kilogram milestone. However, the trend reversed on the Multi-Commodity Exchange and in international markets, where both metals traded lower. Analysts attribute this to profit-booking after a recent rally and caution ahead of key US economic data.

Key Points: Gold Price Rises, Silver Crosses Rs 2 Lakh as MCX Dips

  • 24-karat gold rose by Rs 157 to Rs 1,32,474 per 10 grams in domestic markets
  • Silver prices surged sharply, climbing Rs 1,479 to cross Rs 2 lakh per kg
  • MCX gold and silver futures contracts slipped by 0.50% and 1.19% respectively
  • Global gold and silver prices also traded lower, influenced by a stronger US dollar
2 min read

Gold inches up, silver crosses Rs 2 lakh mark; MCX and global prices slip

Gold prices edged higher domestically while silver surged past Rs 2 lakh per kg. However, MCX and global prices slipped as markets consolidated.

"In INR gold has support at Rs 1,33,850-1,33,110, while resistance is at Rs 1,35,350-1,35,970. - Market Experts"

New Delhi, Dec 18

Gold and silver prices showed mixed trends on Thursday, with gold recording a marginal rise in the domestic spot market, while silver surged past the Rs 2 lakh per kilogram level.

Data from the India Bullion Jewellers Association (IBJA) showed that the price of 24-karat gold increased by Rs 157 to Rs 1,32,474 per 10 grams.

Similarly, 22-karat gold edged higher to Rs 1,21,346 per 10 grams, while 18-karat gold was priced at Rs 99,356 per 10 grams.

Silver prices witnessed a sharper uptick compared to gold. The precious metal climbed by Rs 1,479 to Rs 2,01,120 per kilogram, crossing the Rs 2 lakh milestone in the domestic market.

In contrast, prices on the Multi-Commodity Exchange (MCX) moved lower.

The February 5, 2026 gold contract slipped 0.50 per cent to Rs 1,34,218, while the March 5, 2026 silver contract declined 1.19 per cent to Rs 2,04,961.

Internationally, both metals also traded in the red. Gold was down 0.34 per cent at $4,357 per ounce, while silver fell by around one per cent to $66.24 per ounce at the time of writing.

Market experts said that following a strong rally in recent sessions, gold and silver prices have entered a phase of consolidation, with further movement likely to be guided by upcoming global economic data.

Earlier, in the morning, gold and silver prices slipped in the domestic futures market as investors booked profits after the recent rally to record highs.

A slight rise in the US dollar and caution ahead of key US inflation data also weighed on precious metal prices.

During early trade, MCX gold February contracts were trading 0.20 per cent lower at Rs 1,34,619 per 10 grams.

"In INR gold has support at Rs 1,33,850-1,33,110, while resistance is at Rs 1,35,350-1,35,970. Silver has support at Rs 2,05,650-2,03,280 while resistance is at Rs 2,08,810, 2,10,270," experts stated.

- IANS

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Reader Comments

A
Aman W
Interesting to see the divergence between spot and MCX prices. Shows how futures trading can be a different beast. Good time to hold if you already have gold, but new buyers should wait for a dip.
R
Rohit P
My father always said gold is the safest investment. Even with these small corrections, the long-term trend is up. We buy a little every Diwali, no matter the price. It's not just an asset, it's family security.
S
Sarah B
The article mentions global factors like the US dollar and inflation data. It's a good reminder that our local jewellery prices are now deeply connected to international markets and Fed policies.
K
Karthik V
Respectfully, while the data is useful, the article could do a better job explaining *why* silver saw a sharper uptick compared to gold. Is it industrial demand? Short covering? A bit more analysis would help the common investor.
N
Nisha Z
With prices this high, many middle-class families will postpone buying jewellery. Might see a shift to buying coins or small bars for investment instead of heavy ornaments. The sentiment is cautious.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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