Gold Silver price today: This morning proved to be history making for precious metals in the domestic market. The price of silver in the international market has reached a new record level of $ 62.50 an ounce. The effect of this sharp rise has been visible in India also and the price of silver has gone above Rs 2 lakh per kg. Gold also did not lag behind and moved towards new heights with strong gains.
The biggest reason for this is the big decision taken by the US Federal Reserve late on Wednesday night. The Federal Reserve has cut interest rates for the third consecutive time. After this decision, the demand for gold and silver suddenly increased in the global market and its direct impact was visible on the domestic market of India as well.
surge in gold and silver
An increase in gold prices was seen on the morning of December 11. The price of 24 carat gold in Delhi has increased to Rs 1,30,470 per 10 grams. Whereas in Mumbai this price is Rs 1,30,320 per 10 grams. People often invest more in gold when the Federal Reserve reduces interest rates, hence an increase in prices is seen.
Bright shine in global market also
The price of gold and silver remained high in the global market also. The February US gold contract jumped more than 1% to $4,271.30 an ounce. Silver is also continuously making new records. This year, the US Fed has cut its benchmark rate by a total of 75 basis points to a range of 3.50-3.75%, which is the lowest level since 2022. As interest rates fall, investors’ inclination has once again moved towards safe-haven i.e. gold and silver.
Today’s gold price in major cities of the country
According to GoodReturns, the prices of 24 carat gold in major cities today are as follows-
| City | Gold price (Rs per 10 grams) |
| Delhi | 1,30,350 |
| Mumbai | 1,30,200 |
| Chennai | 1,31,460 |
| Kolkata | 1,30,200 |
| Ahmedabad | 1,30,250 |
| Vadodara | 1,30,250 |
| Bengaluru | 1,30,200 |
| Hyderabad | 1,30,200 |
| Kerala | 1,30,200 |
| Pune | 1,30,200 |
Investors excited, what next?
Gold and silver may rise further after Fed’s rate cut. Experts believe that if inflation and global uncertainty persist, the trend of precious metals may go up further in the coming days.
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