On Thursday, December 26, gold prices in India experienced a significant rise due to a combination of factors, including a strong U.S. dollar and high U.S. Treasury yields. Investors were anticipating clearer signals regarding the Federal Reserve's monetary policy forecast for 2025, which added to the upward pressure on gold prices. Spot gold also gained during modest holiday trade, boosted by geopolitical concerns and a slight decline in the U.S. dollar. According to Reuters, bullion prices have surged by 27% due to the Fed's significant cuts and growing geopolitical uncertainty, but volatility is likely to remain high due to ongoing global tensions.
In the domestic market, the price of 24K gold increased to Rs 7,773 per gram, while 22K gold was priced at Rs 7,125 per gram. For 22K gold, the price for 10 grams climbed by Rs 250, reaching Rs 71,250 on Thursday from Rs 71,000 on Wednesday. Similarly, the price of 100 grams of 22K gold surged by Rs 2,500, reaching Rs 7,12,500, up from Rs 7,10,000 on Wednesday.
The price of 24K gold also saw a rise, with 10 grams costing Rs 77,730 on Thursday, up Rs 280 from the previous day's price of Rs 77,450. For 100 grams of 24K gold, the price increased by Rs 2,800, reaching Rs 7,77,300, up from Rs 7,74,500 on Wednesday.
Additionally, the price of 18K gold also saw an uptick, with 100 grams priced at Rs 5,83,000, an increase of Rs 2,100 from Rs 5,80,900 on Wednesday. The price of 10 grams of 18K gold rose by Rs 180, reaching Rs 58,300 from Rs 58,090.
Gold's volatility remains high, largely driven by persistent geopolitical issues and fluctuations in global markets. The surge in gold prices on December 26 is a reflection of these broader market dynamics, and prices may continue to fluctuate as investors navigate these uncertainties.
