Gold price today: 24k gold rate around ₹77,830 in Mumbai; check prices in your city on December 19

Gold prices dropped slightly in major Indian cities in early trade on Thursday, December 19, after the US Federal Reserve cut its key rate by 25 basis points.

Price for 24 carat gold stood at ₹77,830 per 10 gram on Thursday, which was lower by ₹10 compared to ₹77,840 per 10 gram on Wednesday.

The US central bank lowered the Fed Funds rate to a range of 4.25% to 4.5% but projected interest rates to fall to only 3.9% by the end of 2025, hinting at just two rate cuts next year. The earlier estimate for interest rates was at 3.4% by the end of 2025.

Spot gold was trading flat at $2,588.80 per ounce after dropping more than 2% overnight to hit its lowest since November 18. Anticipations of a slower pace of rate-easing lifted the US dollar.

Gold Price Today in India (December 19, 2024)

In Delhi markets, 24K gold prices slipped by ₹10 to ₹77,980 per 10 grams and 22K gold to ₹71,490 per 10 grams. The 24K gold in Mumbai dropped to ₹77,830 per 10 grams and 22K gold by ₹10 to ₹71,340 per 10 grams.

Silver Price Today in India (December 19, 2024)

Silver prices posted a marginal drop on Thursday, trading at ₹92,400 per kg in major Indian cities in the early session, down ₹100 compared with the closing level of ₹92,500 on Wednesday.

Meanwhile, spot silver fell 3.5% to $29.45 per ounce following the Fed’s rate-cut move.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices have been on a slippery path for the past one week as a strong dollar and rising 10-year Treasury yields are reducing investor appetite for precious metals.

Silver prices have also followed a similar trend and have been trading nearly flat for the past few sessions.

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