Editor’s Note
This article reports on a slight decline in domestic gold and silver prices on December 18, attributed to profit-taking after recent record highs and a firmer US dollar. All figures are sourced from the Multi Commodity Exchange (MCX).
Gold and silver prices declined in the domestic commodity market on Thursday. Investors began profit-booking after the metals reached record highs. This coincided with a slight strengthening of the US dollar. Meanwhile, the market awaits key US inflation data. This morning on the Multi Commodity Exchange (MCX), gold for February delivery slipped 0.20% to ₹1,34,619 per 10 grams. Meanwhile, silver for March delivery was trading down 0.47% at ₹2,06,451 per kilogram.
Previously, on Wednesday, February gold on MCX closed up 0.36% at ₹1,34,894 per 10 grams. Silver touched a record high of ₹2,07,833 and closed the previous session at ₹2,07,435 per kilogram, marking a jump of 4.9%.
Investors are now focused on the US Consumer Price Index (CPI) data for November, which will be released later today. Additionally, Personal Consumption Expenditure (PCE) Price Index figures are due on Friday. These data points will influence the direction of the Federal Reserve’s interest rates, which has a direct impact on gold and silver prices.
According to GoodReturns, in Chennai, 24-carat gold is selling at ₹1,35,710 per 10 grams and 22-carat gold at ₹1,24,400 per 10 grams. In Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune, 24-carat gold is priced at ₹1,34,840 per 10 grams, while 22-carat gold is recorded at ₹1,23,600 per 10 grams. In the capital Delhi, 24-carat gold is being sold at ₹1,34,990 and 22-carat gold at ₹1,23,750 per 10 grams. Meanwhile, in Vadodara and Ahmedabad, 24-carat gold is priced at ₹1,34,890 per 10 grams, while 22-carat gold is recorded at ₹1,23,650 per 10 grams.
| City | 24-Carat Gold (₹ per 10g) | 22-Carat Gold (₹ per 10g) |
|---|---|---|
| Chennai | 1,35,710 | 1,24,400 |
| Mumbai | 1,34,840 | 1,23,600 |
| Kolkata | 1,34,840 | 1,23,600 |
| Bengaluru | 1,34,840 | 1,23,600 |
| Hyderabad | 1,34,840 | 1,23,600 |
| Kerala | 1,34,840 | 1,23,600 |
| Pune | 1,34,840 | 1,23,600 |
| Delhi | 1,34,990 | 1,23,750 |
| Vadodara | 1,34,890 | 1,23,650 |
| Ahmedabad | 1,34,890 | 1,23,650 |
Source: GoodReturns