Gold price on December 12: Check 24k and 22k gold rate in Mumbai, Delhi, Kolkata and Chennai

Gold prices increased by ₹870 per 10 grams in major Indian cities on Thursday following expectations of a rate cut by the US Federal Reserve next week.

The precious metal remained above $2,700 an ounce in global markets after US consumer inflation data for November aligned with market expectations and raised hopes of a rate cut next week.

Spot Gold dropped 0.25% to $2,711 an ounce in early Asian trade. In overnight trade, the metal moved between $2,700 and $2,726 an ounce.

Gold Price Today in India (December 12, 2024)

In Delhi markets, 24K gold prices recovered by ₹ 870 to ₹79,630 per 10 grams and 22K gold by ₹ 800 to ₹73,010 per 10 grams. The 24K Gold in Mumbai rose to ₹79,480 per 10 grams and 22K gold by ₹ 800 to ₹72,860 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (December 12, 2024)

Silver prices dropped ₹1,200 to ₹95,400 per kg in major Indian cities in early trade on Thursday due to weak local demand. The white metal retreated in global markets after Wednesday’s sharp gains on Chinese stimulus signals, which also impacted local prices.

Spot silver dropped by 0.65% to $31.69 an ounce in global markets. The metal hit a high of $32.09 an ounce and a low of $31.52 an ounce in overnight trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold has rallied this week on growing hopes of a rate cut by the US Federal Reserve next week. While frail local demand weighs on the precious metal, it has moved in sync with global trends. Silver prices have also moved in line with global trends as investors await more clarity over Chinese stimulus measures to support the economy.

Here’s a comparison of gold and silver prices from earlier this week: