New Delhi: The fluctuations in gold and silver prices for the last two days have finally ended. Investors were cautious ahead of the US Federal Reserve
meeting, but after the rate cut announcement on the night of 10 December, gold and silver have jumped again.
Both gold and silver have become expensive on the Multi Commodity Exchange i.e. MCX. On Thursday, 11 December, gold became costlier by Rs 534 to Rs 130,330 per 10 grams. At the same time, silver broke all records and reached Rs 192,957 per kg.
Gold and Silver prices jump after Fed rate cut
The price of silver increased by 2.24 percent in one day, which means it has become costlier by Rs 4,222. The reason for the rise in the prices of gold and silver is to cut the interest rate by 25 basis points by the US Federal Reserve. Not only this, the Fed meeting also indicated another cut next year, which has led to the bullion market gaining momentum.
Gold prices have risen at the international level also. US February gold futures rose 0.21 percent to $4,215 per ounce, while silver set a new record after the US Fed’s rate cut. After the US Fed’s policy decision, the dollar index fell by 0.25%, which gave further support to gold prices.
If you look at the retail level, 22-carat gold is available on Caratlane at Rs 12310 per gram. Whereas according to the bullion website, gold will be costlier by Rs 790 today as it reached Rs 130,570 per 10 grams. Whereas silver jumped by Rs 4280 and appeared to be trading at Rs 192,650 per kg.
Gold Price today city-wise list
| City | 22 carats (10 grams) | 24 carats (10 grams) |
| Bengaluru | ₹1,18,750.00 | ₹1,29,540.00 |
| Chennai | ₹1,20,100.00 | ₹1,31,010.00 |
| Delhi | ₹1,18,920.00 | ₹1,29,710.00 |
| Kolkata | ₹1,19,580.00 | ₹1,30,440.00 |
| Mumbai | ₹1,18,780.00 | ₹1,29,570.00 |
| Pune | ₹1,18,800.00 | ₹1,29,590.00 |
