Editor’s Note
This article provides a snapshot of precious metals prices on Friday, 12 December, noting a minor uptick for gold and a decline for silver.
On the last day of the trading week, Friday, gold prices recorded a minor increase, while silver saw a decline.
Gold prices saw a slight increase on Friday, while silver experienced a slight decline due to profit booking. This morning on the Multi Commodity Exchange (MCX), gold with a February contract expiry rose by 0.10 percent to reach ₹1,32,599 per 10 grams, while silver with a March contract expiry (Silver Rate Today) weakened by 0.50% and was trading at ₹1,97,951 per kilogram.
The day before, on Thursday, silver crossed the ₹1,98,000 mark for the first time in history, setting a new record. It reached ₹1,98,814 per kilogram on MCX, while closing with a spectacular jump of 5.33% at ₹1,98,799. Gold also recorded a jump of 2 percent, closing at ₹1,32,469 per 10 grams.
The surge in prices for both metals came after the US Federal Reserve cut benchmark interest rates by 25 basis points. Additionally, the Fed Chairman hinted at another cut next year, which boosted investor sentiment.
Minor fluctuations are being observed in gold prices in major cities across the country. On Friday, 24-carat gold in Chennai is being sold at ₹1,33,640 per 10 grams and 22-carat at ₹1,22,500 per 10 grams. Meanwhile, in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune, 24-carat gold is available at ₹1,32,660 per 10 grams, while 22-carat gold is available at ₹1,21,600 per 10 grams.
Additionally, in the capital Delhi today, the price of 24-carat was ₹1,32,810 per 10 grams and 22-carat was ₹1,21,750 per 10 grams. Meanwhile, in Vadodara and Ahmedabad, the price of 24-carat gold was recorded at ₹1,32,710 per 10 grams and 22-carat at ₹1,21,650 per 10 grams.