Gold prices retreat ahead of Fed policy

Gold prices retreated in major Indian cities in early trade on Monday ahead of the US Fed policy decision.

The precious metal declined by ₹1,570 per 10 grams on Saturday as gold fell more than 1% in global markets on expectations that the Fed policy would be less dovish. US bond yields firmed up which hit gold’s appeal.

Spot Gold was marginally up $2,652 an ounce in early Asian trade. The metal moved in a range from $2,643an ounce to $2,656 an ounce in overnight trade.

Check the latest gold and silver prices across major cities today:

Gold Price Today in India (December 16, 2024)

In Delhi markets, 24K gold prices slipped by ₹ 10 to ₹78,030 per 10 grams and 22K gold to ₹71,540 per 10 grams. The 24K Gold in Mumbai dropped to ₹77,880 per 10 grams and 22K gold by ₹ 10 to ₹71,390 per 10 grams.

Below is a detailed breakdown of gold prices across key cities:

Gold Price Today in Major Cities:

Silver Price Today in India (December 16, 2024)

Silver prices declined by ₹100 to ₹92,400 per kg in major Indian cities in early trade on Monday due to weak local demand.

The white metal plunged by ₹4,100 per kg on Saturday as firm US dollar and bond yields hit its appeal as a hedge against inflation.

Mixed Chinese data also impacted its appeal.

Spot Silver dropped by 0.16% to $30.51 an ounce in global markets. The metal hit a high of $31.62 an ounce and a low of $30.50 an ounce in overnight trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices fell for the third day on Monday as investors turned cautious ahead of the US Fed policy this week.

Silver prices have also retreated in line with gold due to global trends.

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

All Mumbai Rates