Gold Rate Today Falls After Fed Rate Cut; Check City-Wise Gold Prices in Bengaluru,Chennai, Hyderabad, Dec 11

The gold rate today opened lower this morning across major South Indian cities, with the gold price today in Bengaluru, Chennai, and Hyderabad slipping slightly in early trade. The gold price in India eased on Thursday as the metal pulled back after the U.S. Federal Reserve announced an interest rate cut, creating uncertainty about the pace of monetary easing next year. Meanwhile, the silver price today continued its upward momentum, touching yet another record high in the bullion market.

Back in India, many investors are using this phase to buy on dips, hoping to benefit from a recovery in the gold rate today. The 22k gold rate and 24k gold rate across key cities have attracted retail buyers who believe this correction is a good entry point for long-term gold investment.

Gold Rate in Bangalore Today

On December 11, the 24-carat gold rate in Bangalore fell by Rs. 110 per 10 grams to cost Rs. 130,200 per 10 grams. While the 22-carat gold prices in Bangalore today slipped by Rs. 100 and are currently retailing at Rs. 119,350 per 10 grams. Similarly, the 18-carat gold rate today also dropped by Rs. 80 per 10 grams to cost Rs. 97,650.

Gold rate in Chennai today

Interestingly, the 22-carat gold rate in Chennai jumped today by Rs. 200 per 10 grams, bringing the price higher to Rs. 120,500 per 10 grams. Meanwhile, the 24-carat gold price in Bangalore jumped by Rs. 220, now retailing at Rs. 131,460 per 10 grams. The 18-carat gold also saw a spike of Rs. 150 per 10 grams, currently priced at Rs. 100,450.

Gold rate in Hyderabad today

On December 11th, gold prices in Hyderabad fell across all purity levels. The 22-carat gold rate in Hyderabad fell by Rs. 100 per 10 grams and is now priced at Rs. 119,350 per 10 grams. Meanwhile, the 24-carat gold price in Hyderabad today dropped by Rs. 110, bringing the rate to Rs. 130,200 per 10 grams. Even the 18-carat gold rate in Hyderabad saw a drop of Rs., currently retailing at Rs. 94,380 per 10 grams.

MCX Gold and Silver Futures Update

On the MCX, gold futures slated to mature on February 5th are trading at Rs.130,668, up by 0.67%. Similarly, silver futures, which are set to expire on March 5th, dropped by 2.15% to trade at Rs. 192,800.

Silver Prices in Chennai Today

Silver prices in Chennai today jumped for the third consecutive day, as 1 kg of silver in Chennai cost Rs 209,000 after rising by Rs 2,000. While 100 g of silver rates in India currently cost Rs 20,000.

Silver Prices in Bangalore Today

Similarly, Bangalore silver prices today also surged. On December 11th, 1 kg of silver in Bangalore cost Rs. 2,01,000, which jumped by Rs. 2000. While 100 g of silver rates in India cost Rs 20,100.

Silver Prices in Hyderabad Today

The silver rate in Hyderabad today spiked by Rs. 2000/kg; as of Dec 11, 1 kg of silver priced in Hyderabad retails at Rs. 2,01,000. While 100 g of silver rates in India cost Rs. 20,100.

Spot Gold Prices + Spot Silver Price Today

According to the latest Reuters Report, "Spot gold fell 0.4% to $4,210.72 per ounce, as of 0523 GMT, after touching its highest since December 5 earlier in the session. U.S. gold futures for February delivery gained 0.3% to $4,238.90 per ounce. Spot silver was steady at $61.77 per ounce."

"Spot Gold is likely to trade higher amid weakness in the US dollar and a fall in US treasury yields. After the rate cut, the Fed's move to inject liquidity into the financial system by $40 billion in a month would be supportive for the bullion prices. Further, concerns over the US labour market and the growing expectation of more rate cuts in the coming year will also boost the yellow metal to make new highs. Additionally, concern over Fed independence after White House National Economic Council Director Kevin Hassett emerged as the front-runner to serve as the next Fed chair has increased the prospects of lower rates." According to the ICICI Direct Commodity Technical Report.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.