Gold Rate In India Crash By Rs 12,000 From Peak: Will 24K, 22K, 18K Gold Prices Rise Or Fall In Christmas Week

Gold rates in India crashed sharply across 24 carats, 22 carats and 18 carats after significantly recording record rally. For instance, 24 carat gold price has declined by Rs 1,200 in 10 grams and dropped by Rs 12,000 in 100 grams from their all-time highs that touched in the start of this week. Going ahead, market will see a holiday-shortened trading week due to Christmas celebration. Majority of states have declared public holidays. Demand for gold and silver jewelleries will be high since the popular festival aligns with wedding season.

Gold Rates In India:

Currently, the 10 grams gold price is at Rs 1,34,180 in 24 carat, at Rs 1,23,000 in 22 carat and at Rs 1,00,630 in 18 carat. On December 19th, gold prices crashed up to Rs 660 in 10 grams.

Meanwhile, 100 grams gold rate is at Rs 13,41,700 in 24 carat, at Rs 12,29,000 in 22 carat, and at Rs 10,06,300 in 18 carat. The prices dropped by up to Rs 6,600 yesterday.

It needs to be noted that gold prices have pulled back sharply from their new record highs that were touched on December 15. For instance, 10 grams gold is down by Rs 1,200 from its peak of Rs 1,35,380 and 100 grams gold in 24 carat plunged by Rs 12,000 from their lifetime high of Rs 13,53,800.

So far in December, gold prices are up by 3% across carats.

Silver Rates In India:

1Kg silver price is currently at Rs 2,09,000, which has declined by Rs 3,000 from their historic high of Rs 2,11,000 that was touched on December 18. The prices of 100 grams and 10 grams silver stood at Rs 20,900 and Rs 2,090 respectively.

Silver has outperformed gold in December with upside of more than 11%.

MCX Gold Price + MCX Silver Price

MCX gold with February 2026 expiry, ended at Rs 1,34,206 per 10 grams on December 19th, mildly up by Rs 10 or 0.01%. Meanwhile, MCX silver price with February 2026 expiry dropped by Rs 170 or 0.08% to end at Rs 2,08,699 per 1Kg.

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, gold traded traded in a narrow range on the global front near $4,330 in Comex, while domestic MCX gold remained under pressure around Rs 1,33,850, slipping nearly 0.45% as rupee strength capped upside momentum. The stronger currency continued to offset global firmness in bullion.

Gold & Silver Prices Outlook:

The LKP analyst believes in the near term, gold is expected to stay volatile within a range of Rs 1,31,500-Rs 1,34,000. If this happens, then gold will likely be away from fresh record highs during Christmas week.

Gold Prediction In Coming Days

As per Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), gold is currently holding firm around the recent high levels due to the safe-haven demand and volatile global markets. The buyer momentum is still strong despite the high levels, and this is an index of the confidence level of market participants about gold's defensive characteristics. There can, however, be some consolidation around the recent gains.

Silver Prediction In Coming Days

In Kamboj's opinion, silver prices have risen, breaking through the ₹2-lakh mark in a decisive manner. This breakout also restated the forcefulness of the current market rally. While silver prices are hitting these high values, it could see some moments of profit-taking; however, market sentiment will remain positive. The markets will see some volatile performance in silver prices as they adjust to this new breakout.

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