Gold Rates Today, MCX Silver Hits New High; Will Fed Rate Cut Lead 24K, 22K, 18K Gold Prices To Record Rally?

Gold rates in India have been flirting around Rs 130,000 per 10 grams and Rs 13,00,000 per 100 grams in 24 carat ahead of US Federal Reserve's policy. Now that Fed has announced 25 basis points rate cut, precious metals could see the much-needed boost because market has been performing cautiously in December so far. At MCX, gold traded positive on December 11, tracking COMEX gold which rose to $4,230 per ounce. Notably, silver rates in India touched a new all-time high, with MCX silver futures nearing Rs 1.93 lakh mark.

Gold Rates In India:

Ahead of Fed rate cut, 10 grams gold price stood at Rs 1,30,320 in 24 carat, at Rs 1,19,460 in 22 carat and at Rs 97,740 in 18 carat. These are closer to their record highs.

The price of cheapest gold in India is at Rs 13,032 per gram for 24 karat gold, Rs 11,946 per gram for 22 karat gold and Rs 9,774 per gram for 18 karat gold (also called 999 gold).

Meanwhile, 100 grams gold is available at Rs 13,03,200 in 24 carat, at Rs 11,94,600 in 22 carat, and at Rs 97,740 in 18 carat.

As per Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), rate-cut expectations and a softer dollar are still providing a steady base of support. Gold may continue to move in a restricted range, influenced by the shifts in global risk appetite and how firmly investors maintain their defensive positioning.

Silver Rates In India:

Silver rate is just couple of hundreds away from touching Rs 2 lakh mark. 1KG silver price stood at Rs 1,99,000, while 100 grams and 10 grams silver rates stood at Rs 19,900 and Rs 1,990 respectively.

In Kamboj's opinion, silver has jumped with industrial sentiment improving and broader commodity cues turning supportive. This strong uptick is reflective of fresh bets from traders in anticipation of healthier trends from global manufacturing. Some intraday volatility might set in, given the pace of this rise, though the bias remains firm. Further movement will likely be determined by how industrial metals perform globally and whether risk appetite continues to strengthen.

MCX Gold Price + MCX Silver Price

At the time of writing, MCX gold futures with February 2026 expiry, traded at Rs 1,30,492 per 10 grams, up by Rs 696 or 0.54%. The bullion is near its intraday high of Rs 1,30,500 per 10 grams.

Further, MCX silver futures with March 2026 expiry, touched a new all-time high of Rs 1,92,988 per 1Kg in the opening bell. Similarly, MCX silver with February 2026 expiry, hit a new record high of Rs 1,94,000 per 1Kg.

Both silver futures have skyrocketed by 2% to 2.5%.

Gold & Silver Prices Outlook On December 11:

As per Ponmudi R, CEO of Enrich Money, following are the outlook for gold and silver in global market.

MCX Gold Outlook: MCX Gold futures are also trading within a strong rising channel, currently consolidating near Rs.1,30,300 with key support placed at Rs.1,30,000. A sustained move above Rs.1,30,500 will open the next expansion phase toward Rs.1,32,294, which is the lifetime high. A clean breakout above this level could trigger a fresh rally toward Rs.1,34,000 and higher.

MCX Silver Outlook: MCX Silver futures have confirmed a historic breakout above Rs.1,90,000 and are now trading near Rs.1,90,295 with exceptional momentum. As long as Rs.1,83,000 holds as short-term support, the next immediate upside is seen toward Rs.1,92,000- Rs.1,95,000, followed by Rs.2,00,000+ into early 2026. Overall bias across precious metals remains decisively bullish, and buy on dips continues to be the dominant strategy.

Comex Gold: COMEX Gold futures remain firmly in a bullish grip as both gold and silver continue to extend their primary uptrend with controlled momentum. COMEX Gold is consolidating healthily below the $4,200-$4,240 resistance zone after a strong rally, while holding well above the critical $4,176 support. As long as this level is protected on a closing basis, the broader trend remains positive with upside potential toward $4,286-$4,300 on a breakout.

Comex Silver: Silver continues to outperform and lead the precious metals rally. COMEX Silver has entered parabolic territory after breaking above $60 with strong volume, and is currently trading near $61.08. The structure remains aggressively bullish as long as $59 holds, with higher upside targets placed at $63, $65, and even $68-$70 over the coming weeks.

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