Gold Silver Price: Gold and silver prices in India are once again gaining momentum. On the morning of December 4, a sharp rise in gold rates was recorded in the domestic market. Strength in global markets and weakness of rupee have given strong support to precious metals. Gold and silver are being traded at high prices in major cities today.
Gold prices rise, silver prices also rise
On December 4, 24 carat gold in Delhi increased to Rs 1,30,740 per 10 grams. Its price in Mumbai has been recorded at Rs 1,30,590 per 10 grams.
Gold has also strengthened in the international market and its spot price remains at $ 4,207.67 per ounce. The weakness of the rupee against the dollar has also boosted prices in the domestic market.
Talking about silver, its price has also increased to Rs 1,91,100 per kg. At the international level, the spot price of silver was recorded at $ 58.47 per ounce.
Today’s gold rate in major cities of the country
Today’s prices of 22 carat and 24 carat gold below-
| City | 22 carat (Rs/10 gm) | 24 carat (Rs/10 gm) |
|---|---|---|
| Delhi | 1,19,860 | 1,30,740 |
| Mumbai | 1,19,710 | 1,30,590 |
| Chennai | 1,19,710 | 1,30,590 |
| Kolkata | 1,19,710 | 1,30,590 |
| Lucknow | 1,19,860 | 1,30,740 |
| Ahmedabad | , | 1,30,640 |
Market keeps an eye on Federal Reserve meeting
The upcoming meeting of the US Federal Reserve (9-10 December) has increased expectations of interest rate cuts in the market. If rates come down, gold will become more attractive as a ‘safe asset’, which may lead to further rise in prices.
At low interest rates, investors consider gold as a safe investment instead of bonds, due to which the international market is also likely to remain strong.
Prices will continue to fluctuate
Experts believe that in the coming days, gold and silver prices will depend on global signals, movement of the dollar and the policy of the Fed. At present the strong trend continues in the market.
Comments are closed.