On December 20, gold prices in India experienced a significant decline following the impact of the Federal Reserve's recent rate cut. The precious metal traded in a volatile zone, influenced by rising U.S. Treasury yields and a stronger dollar, as markets braced for the Federal Reserve's interest rate decision. Additionally, investors are closely monitoring the upcoming U.S. GDP and inflation data, which could affect sentiment in the bullion market.
Today, 22-carat gold is priced at Rs 7,040 per gram, while 24-carat gold costs Rs 7,680 per gram. The price of 22k gold for 10 grams fell by Rs 300, from Rs 70,700 yesterday to Rs 70,400 today. Similarly, the price of 22k gold for 100 grams dropped by Rs 3,000, from Rs 7,07,000 on Thursday to Rs 7,04,000 on Friday.
For 24k gold, the price of 10 grams is Rs 76,800, a decline of Rs 330 from yesterday’s price of Rs 77,130. The price for 100 grams of 24k gold stands at Rs 7,68,000 today, compared to Rs 7,71,300 yesterday, reflecting a Rs 3,300 drop.
Meanwhile, the price of 18k gold for 10 grams fell by Rs 250 to Rs 57,600, from Rs 57,850 on Thursday. The price of 18k gold for 100 grams decreased by Rs 2,500, from Rs 5,78,500 on Thursday to Rs 5,76,000 today. Along with gold, silver prices also saw a significant drop of Rs 1,000 per kilogram.
As the market reacts to global economic factors, traders and investors are awaiting key U.S. economic reports, which could further influence the price trends of precious metals.
