Gold Rate Today / Huge fall in gold prices, prices fell after rate cut in America, know the latest prices

There was a huge drop in the price of gold on Thursday morning. The 0.25% cut in interest rates by the US Federal Reserve affected the domestic and global markets. In the domestic futures market, gold fell 0.96% to ₹ 75,920 per 10 grams. Globally, gold futures prices fell by 1.15%.

Vikrant Shekhawat : Dec 19, 2024, 10:07 AM

Gold Rate Today: Gold prices have fallen sharply on Thursday morning. This decline has come after the US central bank Federal Reserve announced a cut in key interest rates. The Federal Reserve announced a cut of 0.25% on Wednesday night, which was in line with market expectations. This move affected gold prices in global and domestic markets.

Gold situation in the domestic futures market

In India, the price of gold for February 2025 delivery fell 0.96% (Rs 733) to Rs 75,920 per 10 grams in early trade on the MCX exchange. Similarly, silver for March 2025 delivery also registered a huge decline of 2.39% (Rs 2156), and was seen trading at Rs 88,224 per kg.

Gold prices in the spot market

The price of 24 carat gold fell by Rs 200 to Rs 79,100 per 10 grams in the bullion market of the national capital Delhi on Wednesday. At the same time, the price of 99.5% purity gold also fell by Rs 200 to Rs 78,700 per 10 grams.

Impact on global market

Global futures prices of gold also remained in the grip of decline. Gold prices on Comex fell by 1.15% ($ 30.60) to $ 2622.70 an ounce. In contrast, gold prices rose in the global spot market. Gold spot price rose by 0.97% ($ 24.98) to $ 2610.33 an ounce.

Impact of interest rate cut

The Federal Reserve's interest rate cut has had a profound impact on market sentiment. With this move, investors are turning to other assets instead of gold, which has put pressure on gold prices. The Federal Reserve also indicated that rates could be cut by 0.25% twice in 2025. This is less than the four cuts previously estimated, which caused market volatility.

Advice for investors

Investors should be cautious given the volatility in gold and silver prices at the present time. Especially for those investing in the futures market, it is necessary that they pay attention to market trends and take informed decisions.

Conclusion

This fall in gold prices is a result of economic activities in the global and domestic markets. Due to the reduction in interest rates, there is an imbalance in the demand and supply of gold. Whether prices will stabilize or fall further in the coming days will depend on the future policies of the Federal Reserve and the market response.