Gold-Silver Rate Today: Gold price increased, silver became cheaper… interest rate cut will increase shine

Gold-Silver Rate Today in India: On the morning of December 6, gold prices have increased, while silver prices have declined. This rise is mainly due to changes in global markets and US employment data. Due to the surge in the price of gold, it has again reached near record levels. Let us know what is today’s latest price of 24 carat and 22 carat gold in big cities of the country.

There was a rise in gold prices

There was a rise in gold prices on the morning of 6th December. In the country’s capital Delhi, the price of 24 carat gold has increased to Rs 130090 per 10 grams, while the price of 22 carat gold is Rs 119260 per 10 grams.

The price of 24 carat gold has also increased in other major cities of the country. In cities like Mumbai, Chennai, Kolkata, Pune and Bengaluru, the price of 24 carat gold has reached Rs 129940 per 10 grams. At the same time, the price of 22 carat gold in these cities is Rs 119110 per 10 grams. This rise has come after the spot price of gold in the global market reached $ 4,223.76 an ounce.

decline in silver prices

Unlike gold, the price of silver has declined on the morning of 6 December. The price of silver has come down to Rs 186900 per kg. Even in the global markets, the spot price of silver is at $ 58.17 an ounce. The prices of both gold and silver are influenced by both domestic and global factors.

Gold gets boost due to interest rate cut

A major reason for this rise in the price of gold is international economic developments. Recent US employment data showed that payrolls declined in November, which is the worst data since 2023. After this data, expectations of interest rate cut by the Federal Reserve (America’s central bank) have increased.

If the Federal Reserve lowers interest rates, bonds become less attractive. As a result, investors increase investment in safe assets like gold, which is likely to lead to further rise in gold prices. The important meeting of the Federal Open Market Committee (FOMC) of the Federal Reserve is going to be held on 9-10 December, on which all eyes are fixed.

Also read: RBI reduced repo rate by 0.25%, new rate 5.25%; Economic growth estimated at 7.3%

Repo rate reduced in India also

A big decision has been taken on the economic front in India also. On December 5, the Reserve Bank of India (RBI) has reduced the repo rate by 0.25 percent, after which this rate has come down to 5.25 percent. Due to reduction in repo rate, EMI of loans like home loan, vehicle loan will reduce, which will provide relief to the customers.