Gold Rates Today In India, 23rd Dec: Your Guide To 22K, 24K, And 18K Indian Bullion Prices

On Monday, December 23, gold prices in India were steady due to uncertainty concerning the interest rate cycle. After rising by Rs 6,000 on December 21, gold prices in India were stable for two days in a row on December 22 and 23. Gold prices have been under pressure for the previous two days despite the Fed's decision to keep rates low and its forecasts of fewer rate reductions in the future. After US key inflation surged less than anticipated in November and the dollar retreated off its two-year highs, spot gold prices saw a significant recovery from $2580.

Gold Rates In India Today

In India currently, 22 carat gold costs Rs 7,100 per gramme, whereas 24 carat gold costs Rs 7,745 per gramme. While the price of 22k of 100 grams of gold remained stable at Rs 7,10,000 on Monday, 22k of 10 grams of gold would cost Rs 71,000 in India. On Monday, the price of 24k of 10 grams of gold in India was Rs 77,450, while the price of 24k of 100 grams of gold would be Rs 7,74,500. Gold prices in India were stable Monday at Rs 58,090 for 10 grams and Rs 5,80,900 for 100 grams.

Spot Gold Today

According to Reuters, U.S. gold futures dropped 0.1% to $2,642.10 on Monday, while spot gold climbed 0.2% to $2,626.44 an ounce as of 0313 GMT. Palladium gained 0.2% to $922.31, platinum jumped 1% to $935.47, and spot silver grew 0.7% to $29.72 an ounce.

Silver Rates In India Today

Today, silver costs Rs 91.40 per gramme and Rs 91,400 per kilogramme in India. One kilogramme of silver will cost Rs 91,400 today compared to Rs 91,500 yesterday, a drop of Rs 100. Ten grams of silver will cost Rs 914 compared to Rs 915 yesterday, and 100 grams of silver will cost Rs 9,140 on Monday compared to Rs 9,150 yesterday.

MCX Gold Outlook Today

"On the domestic front, MCX Gold closed above the key level of 76400 with the formation of a bullish candle on the daily chart . The commodity is currently trading within a crucial supply zone of 76350-76850 levels, and a breakout above 76850 level could push prices toward 77200/77700 levels. However, if MCX Gold faces rejection from this range, the next wave of selling pressure could drag prices down to 76000/75450 levels. Traders are advised to maintain strict stop losses, as volatility may remain high due to ongoing geopolitical issues," said the technical research analysts of Way2Wealth Brokers Private Limited.

Spot Gold Prediction Today

"Spot gold is expected to face the hurdle near $2635 and move lower towards $2580 amid strong dollar. A decline in gold speculative net position last week indicated liquidation in the precious metal. Further, easing fears of US Govt. shutdown would also weigh on the metal prices to trade lower. Further, a hawkish Fed cut last week and increasing probability of lower rates cuts in the coming year would restrict its upside. Spot gold is hovering below the short-term moving averages, which could act as key resistance near 20 day EMA at $2635. Bearish cross over of 20 over 50 DEMA indicates correction in price. MCX Gold February is expected to face the hurdle near 76,800 move lower towards 75,500," said the research analysts of the broking firm ICICI Direct Research.

Gold and Silver Prices Outlook Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect gold and silver prices to trade range-bound to slightly higher for the day; as traders weighed the outlook for monetary policy after the Federal Reserve's preferred measure of underlying inflation came in below expectations last week," commented Nirmal Bang Securities Pvt. Ltd.

Gold Rates In Top Indian Cities Today

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.