Gold prices strengthened by ₹330 per 10 grams in major Indian cities in early trade on Friday, January 3, due to geopolitical tensions in the Middle East.

A weak rupee, trading at all-time low levels against the US dollar, also bolstered gold prices in the domestic markets. Gold, priced in US dollars in the international market, is a hedge against currency depreciation. When the rupee depreciates, the value of gold in rupee terms increases, providing a hedge against currency depreciation.

Reports on the US mulling emergency plans to strike Iran’s nuclear facilities flared up geopolitical tensions in the Middle East.

Spot gold rose by 0.23% at $2,663 an ounce in early Asian trade. The metal hit a low of $2,656 an ounce in overnight trade.

Check the latest gold and silver prices across major cities today:

Gold Price Today in India (January 3, 2024)

In Delhi markets, 24K gold prices rose by ₹330 to ₹78,490 per 10 grams and 22K gold to ₹71,960 per 10 grams. The 24K Gold in Mumbai traded at ₹78,340 per 10 grams and 22K gold at ₹71,810 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (January 3, 2025)

Silver prices traded flat at ₹90,400 per kg in major Indian cities on Friday amid firm global trends and weak local demand. While a weak rupee is supporting the metal, lacklustre demand from industrial users is capping the gains.

Spot Silver rose by 0.18% to $29.60 an ounce in early Asian trade. The metal moved between $29.49 an ounce and $29.64 an ounce in overnight trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices have remained firm this week due to geopolitical tensions and a weak rupee making imports costlier. Gold has held above $2,600 an ounce in global markets, a major support for the precious metal in local markets.

Silver prices have been corrected recently due to weak demand from local industry and coin makers.

Here’s a comparison of gold and silver prices from earlier this week:

All Mumbai rates