Gold Rates In India Today: Latest 22K, 24K, And 18K Prices For 25th December 2024

Gold prices in the domestic market saw a jump on Wednesday, December 25, 2024, as investors focused on the latest consumer confidence statistics, while the dollar continued to rise as traders assessed the forecast for US monetary policy in 2025. The precious metal has risen more than 27% this year thanks to US monetary easing, safe-haven demand, and purchases by global central banks. However, as investors assess the outlook for US monetary policy in 2025, the likelihood of lower rate cuts in the upcoming year is growing, which will keep gold prices volatile and subject to fluctuations.

Gold Rates In India Today

Gold now costs Rs 7,100 per gramme in India for 22 carat gold and Rs 7,745 per gramme for 24 carat gold. 22k of 100 grams of gold will cost Rs 7,10,000 in India today compared to Rs 7,09,000 yesterday, signifying a price increase of Rs 1,000. On the other hand, 10 grams of 22k of gold reached Rs 71,000 on Wednesday, up from Rs 70,900 on Tuesday, showing a price gain of Rs 100.

While 24k of 100 grammes of gold prices in India reached Rs 7,74,500 on Wednesday compared to Rs 7,73,500 on Tuesday, reflecting a price rise of Rs 1,000, 24k of 10 grammes of gold will cost Rs 77,450 today compared to Rs 77,350 yesterday, showing a price climb of Rs 100. In India, 18k of 10 grams of gold will cost Rs 58,090 today compared to Rs 58,010 yesterday, marking a rise in the price of Rs 80. Meanwhile, the price of 18k of 100 grams of gold went up by Rs 800 on Wednesday to Rs 5,80,900 from Rs 5,80,100 on Tuesday.

Silver Rates In India Today

Today, silver costs Rs 91.50 per gramme and Rs 91,500 per kilogramme in India. Ten grammes of silver will cost Rs 915 in India today compared to Rs 914 yesterday, 100 grammes of silver will cost Rs 9,150 on Wednesday compared to Rs 9,140 on Tuesday, and one kilogramme of silver will cost Rs 91,500 today compared to Rs 91,400 yesterday, marking a 100 rupee price increase.

Gold Outlook

"Spot gold, in line with the other commodities, is in consolidation mode amid thin liquidity condition. The metal, currently, up by around 0.20% at $2618, closed with a loss of around 0.3% at $2613 yesterday. The US bonds fell as traders, ignoring the weak US data, shifted their focus back to the Fed's hawkish shift. US Conference Board Consumer Confidence Index (December) came in at 104.70 Vs the forecast of 113.20, durable goods orders (November preliminary) at -1.1% fell badly short of forecast of -0.3%, and US new home sales (November) at 664K also trailed the forecast of 669K," said Praveen Singh - Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

"Today's US data calendar is light per se data on card include Philadelphia Fed non-manufacturing and Richmond manufacturing Indices. The ten-year US yields are currently hovering around the cycle high of 4.59%. The US Dollar Index is above 108. Spot gold is expected to trade largely range-bound, though the ten-year yields moving above 4.60% will intensify the downside pressure. Expected range is $2581-$2650 in the short term. Support is in $2600-$2605 zone. Resistance is at $2635/$2650," the analyst further added.

Gold Rate In Top Indian Cities Today

Disclaimer

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