Gold prices in major Indian cities saw a slight dip on Friday, December 20, 2024, following a previous session drop after the US Federal Reserve’s projection of fewer rate cuts in 2025. However, global cues provided some relief, as spot gold saw a modest recovery on international markets.
On Friday, the price of 24-carat gold stood at ₹77,270 per 10 grams, a drop of ₹10 from ₹77,280 on Thursday. In the global market, gold was up by 0.4%, trading at $2,598.20 per ounce as of 1851 GMT, recovering after a 1.5% rise earlier in the session.
Gold Prices Today in Major Indian Cities (December 20, 2024):
| City | 22K Gold (per 10 gm) | 24K Gold (per 10 gm) |
|---|---|---|
| Delhi | ₹70,840 | ₹77,270 |
| Mumbai | ₹70,690 | ₹77,120 |
| Chennai | ₹70,690 | ₹77,120 |
| Kolkata | ₹70,690 | ₹77,120 |
Silver Prices on December 20, 2024:
Silver prices saw a marginal drop on Friday, trading at ₹91,400 per kg in major cities, down ₹100 from Thursday’s closing price of ₹91,500. Spot silver also fell by 1%, reaching $29.05 per ounce, continuing its decline from the previous session.
| City | Silver Price (per kg) |
|---|---|
| Delhi | ₹91,400 |
| Mumbai | ₹91,400 |
| Chennai | ₹98,900 |
| Kolkata | ₹91,400 |
Gold and Silver Price Comparison for the Week:
Gold prices have been declining for three consecutive days, driven by a strong dollar and rising US Treasury yields, which are dampening investor demand for precious metals. Silver prices have also remained sluggish, showing little to no gains over the past week.
| Date | 22K Gold (per 10 gm) | 24K Gold (per 10 gm) | Silver Price (per kg) |
|---|---|---|---|
| Dec 20 | ₹70,840 | ₹77,270 | ₹91,400 |
| Dec 19 | ₹70,850 | ₹77,280 | ₹91,500 |
| Dec 18 | ₹71,350 | ₹77,840 | ₹92,500 |
| Dec 17 | ₹71,500 | ₹78,000 | ₹92,500 |
| Dec 16 | ₹71,400 | ₹77,890 | ₹92,500 |
| Dec 14 | ₹71,400 | ₹77,890 | ₹92,500 |
| Dec 13 | ₹72,840 | ₹79,460 | ₹96,600 |
Despite the slight decline in gold and silver prices, both metals remain sensitive to global factors, including the US Federal Reserve’s policies and the performance of the US dollar. The trend of weaker prices is expected to continue unless there’s a shift in these global economic conditions.
