Gold prices on December 26: Check rates for Mumbai, Delhi and other cities

Gold prices edged up marginally in early trade on Friday while silver also registered a modest gain across major Indian citiesThe price of 24carat gold rose by Rs 10 to Rs 139260 per 10 grams Similarly 22carat gold witnessed an increase of Rs 10 with prices settling at Rs 127660 per 10 gramsIn Mumbai and Kolkata 24carat gold was priced at Rs 139260 per 10 grams while the yellow metal was slightly higher in Chennai at Rs 139870 In the national capital Delhi 24carat gold was trading at Rs 139410 per 10 gramsPrices of 22carat gold remained uniform at Rs 127660 per 10 grams in Mumbai Kolkata Bengaluru and Hyderabad In Chennai the rate stood at Rs 128210 while Delhi recorded a slightly higher price of Rs 127810 per 10 gramsSilver prices also saw an uptick rising by Rs 100 to Rs 234100 per kilogram in Delhi Mumbai and Kolkata In Chennai silver was trading higher at Rs 245100 per kilogramGold and silver bring cheers for investors 2026 outlook remains strongIn a year marked by heightened global uncertainty precious metals delivered exceptional returns for investors with silver emerging as a surprise winnerSilver prices surged by more than 137 per cent outperforming gold which also posted a strong gain of around 68 per cent this yearWith equity markets facing volatility both metals strengthened their position as preferred safe investment options but silver clearly outshone all traditional choicesGoldrsquos strong performance was supported by geopolitical tensions inflation concerns and expectations of interest rate cuts by the US Federal ReserveA major driving force behind goldrsquos rally was steady buying by global central banks For three consecutive years 2022 2023 and 2024 central banks have purchased more than 1000 tonnes of gold each yearAlongside this global investors continued to invest through gold ETFs using them as a safe place to park fundsBig global banks have turned increasingly bullish on goldrsquos outlook Goldman Sachs has raised its 2026 yearend gold price target to USD 4900 per ounce citing strong central bank demand and ETF inflowsDeutsche Bank has also upgraded its outlook projecting gold prices at USD 4450 per ounce in 2026Silverrsquos rally however has been driven by more than just safehaven demand Strong industrial usage has played a crucial roleGrowing demand from sectors such as solar power electric vehicles and electronics has significantly increased silver consumptionAt the same time supply constraints have tightened the market pushing prices sharply higherThis dual role as a precious metal and an industrial input has helped silver deliver more than double the returns of gold in 2025Looking ahead experts believe the positive momentum in silver could continue into 2026Goldrsquos outlook also remains positive for 2026 Continued central bank buying possible US rate cuts and ongoing geopolitical risks are expected to support pricesMeanwhile both metalrsquos prices climbed to new record highs on the MCX on Wednesday morning helped by a weak US dollar and expectations that the US Federal Reserve may cut interest rates furtherGold futures for February rose 042 per cent to touch an alltime high of Rs 138469 per 10 grams Silver futures for March jumped nearly 2 per cent to hit a fresh record of Rs 223742 per kgIn the global market gold prices crossed the USD 4500 per ounce level for the first time The rise was driven by strong demand for safehaven assets as investors expect more interest rate cuts by the US Federal Reserve next yearWith inputs from Agencies