Gold Rates Today, DEC 14: 24k, 22k,18k Prices Steady On Sunday in Bengaluru, Chennai, Hyderabad

This week has been mostly bullish for the bullion market, as gold prices surged multiple times, which was good news for early investors but put retail buyers under massive pressure. Gold prices in Bengaluru, Chennai & Hyderabad declined yesterday, bringing slight relief.

City-Wise Gold Rates Today, December 14

Gold Price In Chennai: On Sunday, the 22-karat gold rate in Chennai steadied at yesterday's rate to cost Rs. 123,700 per 10 grams. While the 24-carat gold prices today are at Rs. 134,950 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs. 103,300.

In a similar line, 100 grams of 22-carat gold in Chennai stands at Rs 12,37,000. While the 24-carat gold price in Chennai per 100 grams is now retailing at Rs. 13,49,500.

Gold Rate in Bengaluru: The 24-carat gold rate in Bengaluru stands at Rs. 133,910 per 10 grams, and the 22-carat gold rate in Bengaluru is Rs. 122,750 per 10 grams.

Gold Rate Hyderabad: The 24K gold price in Hyderabad is Rs. 133,910 per 10 grams, and the 22K gold rate in Hyderabad is Rs. 122,750 per 10 grams.

Gold Rate In Mumbai: the 22-carat gold rate in Mumbai is Rs. 133,910 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs. 122,750 per 10 grams.

MCX Gold and Silver Futures Update

At the end of Friday's trading, gold futures prices on the Multi Commodity Exchange (MCX), expected to mature on February 5th, ended flat at Rs 133,622. Similarly, silver futures, with an expiry date of March 5th, settled at Rs. 192,615 after slipping by 0.12%.

Market Outlook Ahead

According to an analyst report from Way to Wealth, "Gold rose past $2,260 per ounce as a dovish-leaning Fed cut rates by 25 bps and announced $40 billion in T-bill purchases, easing yields and boosting precious metals. A weaker dollar, softer US 10-year yields, and continued central bank buying, especially from China, added further support."

"On the technical front, MCX gold has seen a strong breakout from the cup-and-handle basing pattern with a bullish candlestick and high volumes, registering a new all-time high in yesterday's session. We expect the yellow metal to trend higher from current levels, as the trend is bullish and momentum remains strong. Immediate support is placed at 130119, while resistance is seen at 137400-140000. Traders can buy MCX gold for a target of 137400-140000, with any sustained weakness below 130119 acting as a stop-loss," the report further added.

Spot Gold Prices + Spot Silver Price Today

As per data from Goldprice.org, spot gold ended Friday's trading session at $4,300.4 per ounce, up 0.40%. Meanwhile, spot silver prices saw a sharper decline, closing at $61.96 per ounce, down by 3.55% on the day.

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