Gold prices on December 24: Check rates for Mumbai, Delhi and other cities

Gold prices inched up marginally in early trade on Wednesday while silver also registered gains across major marketsThe price of 24carat gold rose by Rs 10 to Rs 138560 per 10 grams Similarly 22carat gold advanced by Rs 10 with 10 grams trading at Rs 127010In Mumbai and Kolkata 10 grams of 24carat gold was priced at Rs 138560 while in Chennai it stood higher at Rs 139320 In the national capital Delhi the same quantity was selling at Rs 138710As for 22carat gold prices in Mumbai Kolkata Bengaluru and Hyderabad were uniform at Rs 127010 per 10 grams while Chennai recorded a higher rate of Rs 127710 In Delhi 10 grams of 22carat gold was priced at Rs 127160Silver prices also moved up with the metal gaining Rs 100 One kilogram of silver was trading at Rs 223100 in Delhi Mumbai and Kolkata In Chennai silver was priced significantly higher at Rs 234100 per kilogramGold silver surpass record high amid US Venezuela tensions Fed rate cut hopesMeanwhile the gold prices surged over 05 per cent to hit record highs on Wednesday pushing above USD 4500 an ounce due to escalating USVenezuela tensions and expectations for more US rate cuts next yearMCX gold February futures rose 044 per cent to Rs 138485 per 10 grams while MCX silver surged 179 per cent to a record high of Rs 223593 per kilogram as of 1005 amThe dollar index had declined 020 per cent during the session making gold cheaper in overseas currenciesSpot gold surged past the psychological USD 4500 per ounce milestone propelled by safehaven demand and rate cut expectations Silver touched a fresh alltime high and surged beyond USD 72 said Devarsh Vakil Head of Prime Research at HDFC SecuritiesSilver has gained 24 per cent in December and 135 per cent yearoveryear reflecting tight supplydemand fundamentals and robust safehaven flows Vakil addedDomestic spot gold prices have surged over 76 per cent year to date and international gold prices over 70 per cent in 2025 on track for their strongest annual performance since 1979Platinum traded above USD 2300 an ounce for the first time in several decades while palladium also recorded gainsThe US Coast Guard this month seized a super tanker under sanctions carrying Venezuelan oil and tried to intercept two more Venezuela related ships over the weekend heightening tensionsKilling of a Russian army general in a bomb attack on Monday also contributed to increased geopolitical risk and supported gold and silverGold has support at Rs 135550Rs 134710 zone while silver has support at Rs 211150Rs 210280 zone according to analystsAggressive central bank buying expectations of US Fed rate cuts concerns over impact of US tariffs geopolitical tensions and robust inflows into gold and silver ETFs drove the gold and silver prices this year