Gold prices have fallen more than 0.7% compared to a week back while Silver prices fell 2.7% during the same time frame. The decrease in prices can be attributed to the lack of new geopolitical tensions globally.
“The 10-year US yields surged to a fresh cycle high of 4.58%, which boosted the Fed-induced US Dollar rally to the highest level in at least two years. The global ETF trend is not encouraging as the holdings have fallen to the lowest level since February. Traders look forward to the key US data of the PCE deflator inflation index, the Fed’s preferred gauge of inflation for more clues to inflation. Hotter-than-expected data will weigh on the yellow metal. Gold is vulnerable in the near term unless geopolitical tensions come to the fore once again,” said Praveen Singh, Associate Vice President of Fundamental Currencies and Commodities at Mirae Asset Sharekhan.
Gold and silver rates today, December 23
The 24-carat gold rate in India was Rs 76,460 per 10 grams on December 23. The rate for 24-carat gold per gram is Rs 7,646. While the rate of 22-carat gold was Rs 70,088 per 10 grams.
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The price of 24-carat gold has fallen 0.7% in the last seven days. However, It has increased by 0.8% in the last ten days. The silver is available to Indian customers today at a price of Rs 88,270 per kilogram.
Gold rate in Mumbai on December 23
The Gold rate in Mumbai is Rs 76,460/10 grams today. On December 22, the gold was available for Rs 76,440/10 grams. A week back, on December 16, gold was sold for Rs 77,030/10 grams.
Silver rate in Mumbai on December 23
Silver rate in Mumbai was Rs 88,270/Kg on December 23, while it was priced at Rs 88,260/Kg and a week ago the price was Rs 90,920.
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