Gold Price Today, December 9: Spot gold dips near $4,200; check 24K, 22K, 18K gold rates across India. Stay updated on MCX gold, rupee trends, and market insights.
Gold prices witnessed a minor decline today, December 9, as investors closely monitored the U.S. Federal Reserve’s policy statement and upcoming interest rate decisions, which are expected to dictate the short-term trend for the precious metal.
Spot Gold and Futures Update
As of 7:30 a.m. IST, the spot gold price stood at $4,196 per ounce, reflecting a marginal recovery of 0.13% over the past 24 hours. Meanwhile, India’s December gold futures closed at ₹1,29,920 per 10 grams for 24K purity, marking a 0.0323% drop from the previous session.
The Indian rupee was trading at 90.276 against the U.S. dollar on December 6, impacting domestic gold pricing.
City-Wise Gold Price Trends
Gold rates across major Indian cities remain relatively uniform, with minor variations due to local taxes, jeweller margins, and logistics. Today, 24K, 22K, and 18K gold prices reflect a slight dip but remain near the ₹1,30,000 mark for 24K gold.
also read:- Gold-Silver Price Today: Gold Falls, Silver Surges Above ₹1.90 Lakh
Why Are Gold Prices Rising?
Gold continues to maintain its safe-haven appeal amid global uncertainty. “Gold is inching upward as a softer US dollar and rising expectations of a near-term Federal Reserve rate cut bolster bullion demand. The weaker dollar and renewed overseas demand are providing room for gold to rally,” said Rahul Gupta, Chief Business Officer at Ashika Stock Services.
Market Outlook: Gold Momentum for the Week
Domestic analysts expect gold to trade in a narrow range this week. “Gold opened flat around ₹1,30,400 and hovered near ₹1,30,450 during early trades. The Federal Reserve’s policy statement and interest rate decision will remain key drivers for price movement. On the domestic front, a weaker rupee due to uncertainty in India-U.S. trade talks is supporting MCX gold. Positive price support is expected between ₹1,28,500 and ₹1,32,000,” explained Jateen Trivedi, VP Research Analyst, LKP Securities.
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