Gold prices soar ₹1,300 to ₹1,32,900 per 10 gm in Delhi amid firm global cues; silver rates jump ₹3,500

Gold prices (99.9% purity, 24K) in Delhi jumped ₹1,300 to ₹1,32,900 per 10 gram on Friday, December 4, on firm global trends, according to the All India Sarafa Association. The yellow metal is trading close to its lifetime high of ₹1,34,800 per 10 gram (99.9% purity), hit near Diwali. 

Silver also soared in the local bullion market, surging by ₹3,500 to ₹1,83,500 per kg, up from its previous close of ₹1,80,000 per kg. 

In the overseas market, spot gold advanced $15.10, or 0.36%, to $4,223.76 per ounce, while silver was trading 1.82% higher at $58.17 per ounce.

In the past few sessions, gold has also taken support from a weak rupee. On Wednesday, the rupee hit its all-time low, crossing the psychologically important 90-dollar level. 

The rupee closed 5 paise lower at 89.94 (provisional) against the US dollar on Friday. 

Gold, silver futures

Gold futures for February delivery were trading in the green on Friday, rising to an intraday high of ₹1,30,854 per 10 gram on the Multi Commodity Exchange (MCX). At around 5:30 pm, the contracts were trading 0.4% up at ₹1,30,675 per 10 gram.

Silver contracts for March delivery were trading higher too, hitting an intraday high of ₹1,82,869 per kg during the session on Friday. At around 5:30 pm, the futures contracts were trading 2.15% up at ₹1,81,965 per kg on the MCX. 

The Reserve Bank of India’s Monetary Policy Committee on Friday announced a repo rate cut of 25 basis points (bps), lowering it to 5.25% from 5.5% before. This is the fourth repo rate reduction of 2025, bringing the total cut to 1.25% (125 bps) for the current calendar year.