Gold prices today in India saw a decline for the second consecutive day as traders eye the Federal Reserve interest rate cut, the first in four years. The price of 22k gold dropped by Rs 150 to Rs 68,500 per 10 grams, and 100 grams of this gold fell by Rs 1,500 to Rs 6,85,000. Similarly, 24k gold prices fell by Rs 160 to Rs 74,730 per 10 grams, with 100 grams decreasing by Rs 1,600 to Rs 7,47,300.
18k gold prices also experienced a decline, with a fall of Rs 120 to Rs 56,050 per 10 grams, and 100 grams dipping by Rs 1,200 to Rs 5,60,500. The 1-gram gold rate for 22k gold decreased by Rs 15 to Rs 6,850, while 24k gold prices fell by Rs 16 to Rs 7,473 per gram. The price for 1 gram of 18k gold dropped by Rs 12 to Rs 5,605.
Check out the latest Gold Prices HERE!
Market speculation about the Fed’s potential interest rate cut is influencing the volatility in gold prices. If the Fed reduces rates by 25 basis points, the US dollar might appreciate sharply, which could further impact gold prices. Gold is currently testing resistance levels around $2,600 (Rs 74,000) and $2,625 (Rs 74,750) after surpassing $2,550 (Rs 72,500).
Spot gold gained 0.1% to $2,572.11 per ounce, with a peak earlier at $2,589.59. Spot silver saw a slight decline of 0.1% to $30.69 per ounce, while platinum gained 0.1% to $982.79, and palladium remained steady at $1,115.69.
Silver Prices Today in India
Silver prices today in India declined for the second consecutive day. The price for 1 kg of silver fell by Rs 1,000 to Rs 91,000, while 100 grams of silver dropped by Rs 100 to Rs 9,100.
