Gold prices rose in early Wednesday trade, supported by gains in the global bullion market and additional tailwinds from the Indian rupee’s decline to an all-time low. The surge comes after the metal fell 1% in the previous international session.
On Multi-Commodity Exchange (MCX), gold traded 0.79% higher at Rs. 1,30,790 per 10 grams, compared with its previous close of Rs. 1,29,759. Silver also increased 1.41% to Rs. 1,84,153 per kg.
With the Indian Rupee at 90.14 against the US dollar, it made imported gold more expensive. The rupee has already lost more than 5% of its value in 2025.
Gold Prices in Mumbai increased in 24K gold, and the price of 22K gold increased to Rs 13,058 per gram from the previous day's price of Rs 12,987. The price of 10 gms of 24K gold also went up to Rs 1,30,580 from Rs 1,29,870.
Due to the daily increase of 22K gold price in Mumbai on 15 December 2025, the price of 22K gold increased from Rs 11,905 per gram to Rs 11,970 per gram.
This price was also higher than yesterday's price of Rs 11,905 per gram for 10 grams of 22K gold, which rose from Rs 1,19,050 to Rs 1,19,700.
As with Mumbai, India, the price of Gold continues to rise in Chennai, India. The price of 24K gold continued to rise to approximately Rs 13,157.00 per gram compared to the price that was Rs 13,135.00 for yesterday.
The price of 10 Gms of Gold 24K had a similar rise from Rs 1,31,350 for 10 Gms of Gold 24K.
In the global markets, US gold futures for December delivery gained 0.5% to $4,239.50. Silver slipped 0.2% to $58.32 per ounce, platinum eased 0.4% to $1,631.10, and palladium fell 0.6% to $1,458.83.
According to Reliance Securities analyst Jigar Trivedi, expectations of monetary easing by the Federal Reserve continue to underpin gold.
Futures markets are currently predicting an 89% probability of a December rate cut.
The release of several US data this week includes the delayed publication of the Consumer Price Index (CPI), the Unemployment Rate, and jobs produced during the employment report prepared by Automated Data Processing (ADP).
The World Gold Council reported a significant 53-ton increase in purchases by Central Banks during October 2023, a 36% increase over September and the highest monthly demand for 2025 to date. These central banks have been instrumental in supporting the long-term price of Gold.
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Trivedi expects MCX February gold futures to rise toward Rs. 1,31,000 per 10 grams. Gold faces support at Rs. 1,28,650 and resistance near Rs. 1,33,530. Internationally, gold may find support at $4,145-$4,175, with resistance at $4,270-$4,295.
Silver is seen holding support at Rs. 1,79,200-Rs. 1,80,750 and facing resistance at Rs. 1,82,810-Rs. 1,83,670.