Is Gold Rising While Silver Surpasses Rs 2 Lakh? MCX and Global Prices Decline
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Synopsis
On December 18, 2023, gold prices slightly increased while silver exceeded the Rs 2 lakh mark per kilogram. Despite this rise, MCX and global prices saw a decline, indicating a complex market scenario that investors should monitor closely. Experts suggest consolidation ahead, making it crucial to stay updated on market movements.
Key Takeaways
- Gold prices slightly increased while silver surpassed Rs 2 lakh per kilogram.
- MCX and global prices experienced a downturn.
- Market analysts suggest a phase of consolidation ahead.
- Profit booking and a stronger US dollar are affecting precious metal prices.
- Key support and resistance levels identified for both metals.
New Delhi, Dec 18 (NationPress) Gold and silver prices displayed contrasting trends on Thursday, as gold experienced a slight increase in the domestic spot market, while silver surged beyond the Rs 2 lakh per kilogram threshold.
According to data from the India Bullion Jewellers Association (IBJA), the price of 24-karat gold rose by Rs 157 to Rs 1,32,474 per 10 grams.
Similarly, 22-karat gold saw an uptick to Rs 1,21,346 per 10 grams, while 18-karat gold was valued at Rs 99,356 per 10 grams.
In contrast, silver prices experienced a more significant rise. The precious metal jumped by Rs 1,479 to Rs 2,01,120 per kilogram, crossing the Rs 2 lakh milestone in the domestic market.
Conversely, prices on the Multi-Commodity Exchange (MCX) decreased.
The February 5, 2026 gold contract fell by 0.50 percent to Rs 1,34,218, while the March 5, 2026 silver contract dropped by 1.19 percent to Rs 2,04,961.
Globally, both metals also traded lower. Gold was down 0.34 percent at $4,357 per ounce, while silver decreased by around one percent to $66.24 per ounce.
Market analysts noted that after a robust rally in previous sessions, gold and silver prices are undergoing a phase of consolidation, with further fluctuations likely influenced by forthcoming global economic data.
This morning, gold and silver prices dipped in the domestic futures market as investors took profits following the recent surge.
A slight uptick in the US dollar and cautiousness ahead of crucial US inflation metrics have also put pressure on precious metal prices.
During early trading, MCX gold February contracts were down 0.20 percent at Rs 1,34,619 per 10 grams.
Experts indicated, "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."
Point of View
It's essential to recognize the mixed signals in the gold and silver markets. While the rise in prices may attract investor interest, the concurrent decline in MCX and global prices signals caution. The market's future will likely hinge on upcoming economic data, and staying informed is critical for navigating these changes effectively.
NationPress
22/12/2025
Frequently Asked Questions
Why are gold and silver prices fluctuating?
Gold and silver prices fluctuate due to various factors, including market demand, economic data, and investor sentiment. Recent profit booking and a stronger US dollar have contributed to these changes.
What is the current gold price in India?
As of December 18, 2023, the price of 24-karat gold is Rs 1,32,474 per 10 grams in India.
How is silver price different from gold?
Silver prices often fluctuate more significantly than gold due to higher volatility in demand and supply dynamics, making them more reactive to market changes.
What should investors watch for in gold and silver markets?
Investors should monitor global economic indicators, inflation data, and currency strength, especially the US dollar, as these factors can influence precious metal prices.
What are the support and resistance levels for gold and silver?
Gold has support at Rs 1,33,850-1,33,110 and resistance at Rs 1,35,350-1,35,970. Silver has support at Rs 2,05,650-2,03,280 and resistance at Rs 2,08,810-2,10,270.
