Gold prices were trading steady with a negative bias on Friday morning. It was at Rs 1,26,180 per 10 grams versus Rs 1,26,570 the previous day. Globally, gold prices rose as signs of a rate cut in the US Federal Reserve's December policy meeting supported the precious metal.
Lower interest rates make the precious metal affordable for countries that use other currencies than US dollar.
The Bloomberg spot gold advanced 0.69% to $4,186.39 an ounce as of 6:31 a.m. The bullion is on a path to record straight fourth months of gains. Moreover, gold prices have gained every month of this year and most likely will record the best annual gain as well, according to Bloomberg.
Market participants will continue to absorb any clues regarding the US Fed's policy outlook. "With the U.S. Government now reopened, upcoming economic releases will be crucial for the Federal Reserve to assess its December 2025 rate-cut trajectory. Gold is expected to remain volatile within the Rs 1,24,000–Rs 1,27,500 range," Jateen Trivedi, vice president, research analyst, Commodity and Currency, LKP Securities.
Gold Price Today: Delhi, Mumbai, Chennai Prices
In Mumbai, the bullion was trading at Rs 1,25,950 per 10 grams versus Rs 1,26,350 per 10 grams as of 6:38 a.m. This indicated a decline of 0.3%. In New Delhi, gold prices was at Rs 1,25,740.
Precious metal was traded at Rs 1,25,790 per 10 grams as of 6:39 a.m. in Kolkata. In Chennai, the price was Rs 1,26,320.
In Bengaluru, gold prices were at Rs 1,26,050 per 10 grams as of 6:40 a.m. compared to Rs 1,26,440. It was at Rs 1,26,150 compared to Rs 1,26,550.
The Gold Dec 5 futures settled at Rs 1,25,540 per 10 grams on Multi Commodity Exchange on Thursday.
Silver Prices Today
Silver prices remained flat at Rs 1,62,130 per kilogram as of 6:43 a.m, according to data on India Bullion Association.
The Silver Dec 5 future settled Wednesday 0.10% lower at Rs 1,62,300 per kilogram on Multi Commodity Exchange.
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