Gold and silver prices have fallen more than 2% compared to a week back investors are worried about the outcome of the Fed’s policy meeting.
“Gold prices weakened by $12 to settle at $2640 on Comex and dropped by Rs 350 to Rs 76,700 on MCX as the outcome of the Fed’s policy meeting prompted caution among market participants. Long positions were trimmed ahead of the year’s final policy announcement, with expectations that forward guidance on rate cuts may remain unclear. This lack of clarity weighed on sentiment, especially as the dollar index continued its upward momentum. In the near term, the weakness in gold is likely to persist, with a trading range seen between Rs 76,000 and Rs 77,250 on MCX,” said Jateen Trivedi, Vice President and Research Analyst of Commodity and Currency at LKP Securities.
Gold and silver rates today, December 18
The 24-carat gold rate in India was Rs 76,850 per 10 grams on December 18. The rate for 24-carat gold per gram is Rs 7,685. While the rate of 22-carat gold was Rs 70,446 per 10 grams.
The price of 24-carat gold has fallen 2.7% in the last seven days. However, It has increased by 0.3% in the last ten days. The silver is available to Indian customers today at a price of Rs 90,610 per kilogram.
Gold rate in Mumbai on December 18
The Gold rate in Mumbai is Rs 76,850/10 grams today. On December 17, the gold was available for Rs 77,030/10 grams. A week back, on December 11, gold was sold for Rs 78,960/10 grams.
Silver rate in Mumbai on December 18
Silver rate in Mumbai was Rs 90,610/Kg on December 18, while it was priced at Rs 90,920/Kg and a week ago the price was Rs 95,590.
Gold rate in Delhi on December 18
On December 18, the gold rate in Delhi is Rs 76,710/10 grams. The gold was quoted at Rs 76,900/10 grams on December 17. While the price of the 24K gold was Rs 78,820/10 grams a week ago.
Silver rate in Delhi on December 18
The silver rate in Delhi was Rs 90,450/Kg on December 18. The price of silver was Rs 90,760/Kg on December 17. A week ago, silver was traded for a price of Rs 95,430/Kg.
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