Gold Rates In India Today, 6-Dec: 24K/100 Grams Gold Price Falls Rs 2,700; Silver Stable

Ahead of upcoming US data releases, such as weekly jobless claims and Non-Farm Payrolls (NFP), gold prices in India fell precipitously today, Friday, December 6. Gold rates fell amid dollar weakness and ahead of key jobs data that is scheduled later today. They are predicted to be volatile ahead of US nonfarm payroll data. Gold prices are predicted to fluctuate as geopolitical instability intensifies on the home front.

Gold Prices In India Today

Gold currently costs Rs 7,115 per gramme for 22 carat gold and Rs 7,762 per gramme for 24-carat gold in India. In India, the price of 22k of 10 grams of gold dropped by Rs 250 to Rs 71,150 on Friday from Rs 71,400 on Thursday. Meanwhile, the price of 22k of 100 grams of gold dropped by Rs 2,500 to Rs 7,11,500 today from Rs 7,14,000 yesterday.

In India, the price of 24k of 10 grammes of gold dropped by Rs 270 to Rs 77,620 today from Rs 77,890 yesterday, while the price of 24k of 100 grammes of gold dropped by Rs 2,700 to Rs 7,76,200 on Friday from Rs 7,78,900 yesterday. In India, the price of 18k of 10 grammes of gold was Rs 58,220 today, down Rs 200 from yesterday's price of Rs 58,420, while the price of 18k of 100 grammes of gold was Rs 5,82,200 on Friday, down Rs 2,000 from Rs 5,84,200 on Thursday.

Spot Gold Today

By 0346 GMT, spot gold had risen 0.3% to $2,638.66 an ounce after plunging to its lowest level since November 26 earlier in the day. So far this week, prices dropped by around 0.4%. At $2,661.00, U.S. gold futures increased by 0.5% as per Reuters. Spot silver is up more than 2% for the week, despite a 0.1% decline to $31.3 an ounce, according to Reuters. Palladium increased 1.5% to $977.25 while platinum increased 0.6% to $944.25.

Silver Rates In India Today

In India, silver currently costs Rs 92,000 per kilogramme and Rs 92 per gramme. In India, the price of 10 grams of silver is still Rs 920 today, 100 grams will cost Rs 9,200, and the price of 1 kilogramme of silver is still Rs 92,000 on Friday as compared to Thursday.

MCX Gold Outlook Today

"Gold fell toward $2,620 on Friday, falling for the second consecutive session and reaching its lowest level in over a week, as markets awaited fresh US data for insights into Federal Reserve monetary policy. Data showed that the number of Americans filing new applications for unemployment benefits rose last week, indicating a gradual cooling of the labor market. The domestic yellow metal MCX Gold (Feb 2025 Contract closed weak yesterday The commodity is presently opening flat in morning trade . Its crucial supply zones around 77000 77500 levels which should act as resistance. On the downside, support for MCX Gold lies at 75500/ 76000 levels with a break below 75500 level can potentially drag prices toward 74000/73500 levels. Traders are advised to trade with strict stoploss as volatility may remain high due to ongoing geopolitical issues," said the technical research analysts of Way2Wealth Brokers Private Limited.

Gold Price Outlook Today

"Ahead of Fed Chair Powell's speech and US employment figures, the price of gold remains stable at $2650. Risk aversion over China's problems and the Fed's unclear future rate cuts give the US dollar its strength. According to the CME Group's FedWatch Tool, markets are currently pricing in a 73% chance of a December Fed rate cut. Additionally, sentiment remains positive in India as RBI increased its gold holdings by 27 tonnes in October, bringing its total holdings to 77 tonnes so far this year," said Dr. Renisha Chainani, Head Research - Augmont - Gold For All.

"India's net buying activity for the year has increased fivefold compared to 2023. RBI is the world's largest buyer of gold in 2024, following that are the countries Turkey and Poland. Gold prices are expected to be rangebound and consolidate between $2600 (~Rs 75000) and $2200 (~Rs 77600) for the next few days with positive bias. There may well be another shoe to drop after all before the balance of risks shifts back towards the upside in Gold," Dr. Renisha Chainani commented.