Gold Prices Rise for Second Straight Day; Silver Shines Too—Check Rates in 10 Major Cities
Gold-Silver Rate Today: The upward momentum in gold and silver prices continued for the second consecutive day on December 2, bringing renewed excitement to bullion markets across India. With expectations of a US Federal Reserve rate cut strengthening global sentiment, both precious metals are trading higher across major cities including Delhi, Lucknow, Patna, Mumbai, and Chennai.
Here’s a detailed look at today’s city-wise gold and silver rates and the market trends driving this rally.
Gold Becomes Costlier Again
Gold prices have registered another day of gains, with both 22-carat and 24-carat gold rising by ₹10 per 10 grams in Delhi. This follows a strong upward movement over the last 48 hours.
Two-Day Price Surge
-
24-carat gold has increased by ₹660 per 10 grams in two days.
-
22-carat gold has become ₹610 costlier during the same period.
This steady rise reflects improving global sentiment as investors expect the US Federal Reserve to cut interest rates sooner than anticipated. Lower interest rates typically boost investment demand for precious metals, especially gold, which is considered a safe-haven asset.
City-wise Gold Rates Today (December 2, 2025)
Below are the latest prices for 10 grams of 22-carat and 24-carat gold across 10 major Indian cities:
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) |
|---|---|---|
| Delhi | 1,19,760 | 1,30,640 |
| Mumbai | 1,19,610 | 1,30,490 |
| Kolkata | 1,19,610 | 1,30,490 |
| Chennai | 1,20,710 | 1,31,680 |
| Bengaluru | 1,19,610 | 1,30,490 |
| Hyderabad | 1,19,610 | 1,30,490 |
| Lucknow | 1,19,760 | 1,30,640 |
| Patna | 1,19,660 | 1,30,540 |
| Jaipur | 1,19,760 | 1,30,640 |
| Ahmedabad | 1,19,660 | 1,30,540 |
Mumbai, Kolkata, Bengaluru, and Hyderabad continue to offer uniform rates, while Chennai remains on the higher side, as is usually seen due to stronger local demand.
Silver Prices Also Move Up for the Second Day
After stabilizing for a day, silver prices have resumed their upward movement. Over the last two days, silver has become ₹3,100 per kilogram costlier in Delhi. Before this, silver had already surged by ₹22,000 per kg over five consecutive days, reflecting intense buying and strong industrial demand.
Silver Rates Today
-
Delhi, Mumbai, Kolkata: ₹1,88,100 per kg
-
Chennai: ₹1,96,100 per kg (highest among metros)
The premium in southern markets continues, driven by higher consumption from electronics, solar, and manufacturing industries.
What’s Driving the Gold and Silver Rally?
The primary catalyst behind this week’s surge is the rising probability of a US interest rate cut. Lower rates generally weaken the dollar and boost demand for bullion.
Global Market Expectations
A survey conducted by Goldman Sachs among over 900 global institutional investors reveals:
-
36% believe gold could cross $5,000 per ounce by the end of 2026.
-
About 33% expect prices to stay between $4,500 and $5,000 per ounce.
Prominent global financial institutions have issued optimistic forecasts:
-
JP Morgan expects gold to reach $5,055 per ounce in the final quarter of next year.
-
Morgan Stanley predicts prices near $4,400 per ounce by late 2026.
Silver, too, is gaining momentum from rising industrial usage in solar panels, EV components, electronics, and renewable technologies, which has significantly expanded its long-term demand outlook.
What Lies Ahead?
Experts suggest that if the Federal Reserve signals a clear easing cycle in early 2026, gold could move toward new lifetime highs, with silver likely to follow. However, short-term fluctuations cannot be ruled out due to global market volatility.
