Gold-Silver Price: Current in gold and silver again, know in one click how you can earn big money today

Gold-Silver Price Today: On Thursday, December 11, gold prices on MCX rose by more than 0.50% in morning trade, while silver hit a new record high. The US Federal Reserve has cut interest rates by 25 basis points and has hinted at another rate cut next year.

This has supported the prices of gold and silver. At around 10:50 am, the MCX Gold February contract was trading at ₹130,463 per 10 grams, higher by ₹667 or 0.51%. MCX Silver March contract was trading at ₹192,400 per kg, higher by ₹3,334 or 1.9%.

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Gold and silver prices have increased rapidly this year due to rate cut expectations, strong central bank buying, geopolitical uncertainties and heavy investment in ETFs.

A jump was also seen in international gold prices. February US gold futures rose more than 1% to $4,271.30 an ounce. Silver also reached a new record high after the US Fed cut interest rates.

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The US Federal Open Market Committee (FOMC) cut benchmark interest rates for the third consecutive time on December 10. This brought the federal funds rate to its lowest level since 2022, which is in the range of 3.50%-3.75%. Overall, the Fed has cut the federal funds rate by 0.75 percentage points this year.

In his press conference, Fed Chairman Jerome Powell declined to provide any guidance on whether there would be further interest rate cuts in the near future. However, investors got some hope from his statement that there are significant risks in the labor market and the Central Bank does not want its policies to hinder job creation.

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Where to find opportunities in commodities today?

Today for the Commodity Trading call, we are joined by Vandana Bharti from SMC Global Securities. Today they are seeing profit opportunities in gold and copper. Vandana Bharti recommends buying MCX Copper around ₹1085. Keep stop-loss at ₹1078 and target at ₹1100.

Vandana Bharti’s next recommendation is gold. She suggests buying gold around ₹130,500. Set stop-loss at ₹130,000 and target at ₹131,000.

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