Gold is on a historic tear. As of the morning of December 24, 2025, spot gold is hovering just under the 4,500 mark. In India, we’re looking at domestic futures hitting ₹1,38,325 per 10 grams. Or nothing. Let’s be real—seeing gold jump 60% in a single year makes every other “safe” investment look like a piggy bank. Those too.
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The thing is, the market is in “flight to safety” mode. Between a weakening Rupee (sitting at 89.46 against the USD) and a major geopolitical powder keg, everyone is piling into bullion.
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The Venezuelan Factor: Why Gold is Spiking
It’s not just the Fed this time. The real kicker is the escalating tension between the U.S. and Venezuela.1
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The Blockade: President Trump recently ordered a naval blockade of sanctioned oil tankers.2
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The Fallout: With the U.S. Navy seizing tankers and Russia/China backing Caracas, traders are panicking.3 Whenever “war” and “oil” appear in the same sentence, gold prices go vertical. And here’s the kicker: some analysts are now whispering about 5,000 gold by early 2026 if this doesn’t cool down.4
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Gold Purity Prices in India (Dec 24, 2025)
| Purity | Price per 10 Grams (Avg) |
| 24K Gold | ₹1,38,560 |
| 22K Gold | ₹1,27,010 |
| 18K Gold | ₹1,03,920 |
| Silver (1 Kg) | ₹2,23,100 |
City-Wise 24K Rates (Per Gram)
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Chennai: ₹13,932
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Delhi: ₹13,871
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Mumbai/Kolkata: ₹13,856
Silver is the Real Wildcard
While gold is the headline, silver is actually outperforming it in percentage terms.5 It has gained nearly 149% year-to-date, recently smashing past 70 an ounce globally. It’s a structural deficit—we’re using more silver for solar panels and EVs than we can dig out of the ground.
It’s an ongoing rally that feels “overbought” but somehow not “over-owned.” Jateen Trivedi from LKP Securities notes that as long as we stay above the ₹1,32,000 zone, the bias is still bullish. Basically, every “dip” is just a buying opportunity for people terrified of inflation.
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