Gold Rates In India Today, Dec-10: 24K/100 Grams of Gold Jumps Rs 8,200; 1 Kg Silver Price Up Rs 4,500

On Tuesday, November 10th, gold prices in India experienced a significant spike, reaching their highest point of the month for both gold and silver. This occurred because global fear and desire for safe havens were rekindled by geopolitical unrest. However, gold rates are anticipated to trade erratically and remain in a consolidated range due to the anticipation of Fed rate reduction, the continued high geopolitical risk, and the uncertainty surrounding the Trump administration's adoption of protectionist policies.

Gold Rates In India Today

Today, 22 carat gold costs Rs 7,205 per gramme in India, whereas 24-carat gold costs Rs 7,860 per gramme. While the price of 22k of 100 grammes of gold in India on Tuesday was Rs 7,20,500, up by Rs 7,500 from Rs 7,13,000 on Monday, the price of 22k of 10 grammes of gold in India today was Rs 72,050 compared to Rs 71,300 yesterday, showing a price rise of Rs 750.

In India, 24k of 10 grams of gold will now cost Rs 78,600, up by Rs 820 from yesterday's price of Rs 77,780. Meanwhile, the price of 24k of 100 grams of gold jumped to Rs 7,86,000 on Tuesday from Rs 7,77,800 on Monday, rising by Rs 8,200.

While 18k of 100 grammes of gold would cost Rs 5,89,500 on Tuesday compared to Rs 5,83,400 on Monday, reflecting a price increase of Rs 6,100, 18k of 10 grammes of gold will cost Rs 58,950 today compared to Rs 58,340 yesterday, marking a price gain of Rs 610.

Spot Gold Today

As investors awaited U.S. inflation data for more hints about the Federal Reserve's interest rate cut, gold prices continued to rise on Tuesday. As of 0248 GMT, spot gold was up 0.4% to $2,669.84 per ounce, according to Reuters. At $2,692.50, U.S. gold futures climbed 0.3%. Palladium gained 0.3% to $976.25, platinum was steady at $940.15, while spot silver rose 0.6% to $31.98 an ounce.

Silver Rates In India Today

Silver prices in India rose to their highest level for the month today due to consumer appetite for safe haven investments and the growing likelihood that the Fed will cut interest rates by 25 basis points in its December policy. Today, silver costs Rs 96.50 per gramme and Rs 96,500 per kilogramme in India. In India, 10 grams of silver will cost Rs 965 today, up from Rs 920 yesterday, which is a 45 rupee price spike. On Tuesday, 100 grams of silver will cost Rs 9,650, up from Rs 9,200 on Monday, which is a 450 rupee price jump. In contrast, the price of one kilogramme of silver surged to Rs 96,500 from Rs 92,000 yesterday, signifying a 4,500 rupee price rise in a single day.

MCX Gold Outlook Today

"Technically, MCX Gold closed above the key level of 77000 with the formation of a bullish candle on the daily chart. The domestic commodity has witnessed a positive breakout from a bullish rectangle chart pattern on the daily chart, supported by strong buying volumes, indicating a positive bias. If the commodity manages to surpass its recent swing high of 77620 level then it could advance towards 78200/78850 levels in the near term. On the downside, key support for MCX Gold is placed at 77250/76600 levels. Traders are advised to use strict stop losses, as volatility may remain high due to ongoing geopolitical issues," said the research analysts of Way2Wealth Brokers Private Limited.

Spot Gold Outlook Today

"Spot gold is expected to trade higher amid growing prospects of loose monetary policy from major central banks. Escalating geopolitical tension in the Middle East and tension between Russia and Ukraine would enhance the safe appeal. Further, resumption of gold purchase by China to counter the impact of trade tariff concerns would provide support to the bullions. Further, increasing chance of December rate cut by Fed would help the gold prices to move towards $2700. Meanwhile, focus will shift towards this week's key inflation numbers which could give further clarity on central banks next move. Spot gold is likely to hold the support of 20 day EMA $2645 and move towards $2680. Above $2680 it would rally towards $2700. MCX Gold February is expected to hold above the 20 day EMA at 76840 and extend its rally towards 77,800," said the brokerage firm ICICI Direct Research.

Gold Rates In Top Indian Cities Today

Disclaimer

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