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Gold prices surged past the ₹1.3 lakh mark in India, driven by expectations of a possible rate cut by the U.S. Federal Reserve. Reports indicate that both gold and silver prices have been rising steadily over the past few days.
According to Good Returns, as of 6:30 AM on December 2, 24-carat 10-gram gold in India reached ₹1,30,490, up ₹680 from the previous day. Similarly, 22-carat 10-gram gold rose to ₹1,19,610. Silver prices increased by ₹3,200 per kilogram, reaching ₹1,88,100. Internationally, gold prices also rose. The price of 31.10 grams (1 ounce) of 24-carat gold reached $4,241, an increase of about 0.3 percent, marking the highest in the last six weeks. Meanwhile, silver rose 3.8 percent to $58.57 per ounce. Analysts say geopolitical uncertainties have subsided, prompting central banks and institutional investors to turn to gold. However, there are differing opinions within the U.S. Federal Reserve regarding a potential rate cut. Out of the 12 members of the Federal Open Market Committee, five are hesitant about a rate cut, while three members of the Board of Governors are in favor. Nevertheless, expectations of a rate cut are strong among investors, drawing attention to the upcoming Fed review meetings.
24-carat, 22-carat, 18-carat
Chennai: 1,31,680; 1,20,710; 1,00,660
Mumbai: 1,30,490; 1,19,610; 97,870
New Delhi: 1,30,640; 1,19,760; 98,020
Kolkata: 1,30,490; 1,19,610; 97,870
Bengaluru: 1,30,490; 1,19,610; 97,870
Hyderabad: 1,30,490; 1,19,610; 97,870
Vijayawada: 1,30,490; 1,19,610; 97,870
Kerala: 1,30,490; 1,19,610; 97,870
Pune: 1,30,490; 1,19,610; 97,870
Vadodara: 1,30,540; 1,19,660; 97,920
Ahmedabad: 1,30,540; 1,19,660; 97,920
Chennai: 1,96,100
Mumbai: 1,88,100
New Delhi: 1,88,100
Kolkata: 1,88,100
Bengaluru: 1,88,100
Hyderabad: 1,96,100
Vijayawada: 1,96,100
Kerala: 1,96,100
Pune: 1,88,100
Vadodara: 1,88,100
Ahmedabad: 1,88,100
Prices are subject to change. Check the latest rates before buying gold or silver.
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