English
English
English
Gold prices saw a decline on December 20 as the recent rally paused in domestic markets. In Delhi, 24-carat gold slipped to Rs 134,320 per 10 grams, while silver also fell to Rs 208,900 per kg. Global cues, including US Federal Reserve rate-cut signals and weak labor data, influenced prices.
Gold Drops Below Rs 1.35 Lakh; Silver Prices Ease
New Delhi: The continuous surge in gold prices has finally come to a halt. On Saturday morning, December 20, gold prices registered a decline in the domestic market. In the capital city of Delhi, the price of 24-karat gold fell to ₹1,34,320 per 10 grams, while 22-karat gold was trading at ₹1,23,140 per 10 grams.
In other major cities of the country, the price of 24-karat gold was recorded at ₹1,34,170 per 10 grams in Mumbai, Chennai, and Kolkata. The price of 22-karat gold remained at ₹1,22,990 per 10 grams in these cities. This is considered a slight relief for investors and customers compared to the previous days.
Gold rises for third straight day, Silver rally continues; Check today’s rates here
Gold prices in Pune and Bengaluru are also at almost similar levels. In these cities, 24-karat gold is trading at around ₹1,34,170 per 10 grams and 22-karat gold at around ₹1,22,990 per 10 grams. In other cities like Ahmedabad and Bhopal, 24-karat gold has reached up to ₹1,34,900 per 10 grams.
In the international market, the spot price of gold remains at $4,322.51 per ounce. The market saw some movement after the statement by US Federal Reserve Governor Christopher Waller. He hinted at further interest rate cuts but also said that policymakers might proceed cautiously. Rising unemployment and weak employment figures in the US have also affected gold prices.
Gold prices fall across India, Silver also turns cheaper; Check rates here
Along with gold, silver prices also registered a decline on Saturday morning. In the domestic market, the price of silver fell to ₹2,08,900 per kilogram. In the international market, the spot price of silver was recorded at $65.85 per ounce.
However, silver prices have seen a remarkable surge of approximately 126 percent so far this year. Experts believe that silver supply remains constrained for the fifth consecutive year, which could lead to another price increase in the future. This dip in prices could also present a buying opportunity for investors.
