Gold Rate Today: A decline in gold prices is being seen within the first buying and selling session of the week. On MCX, gold opened at Rs 77082 per 10 grams and is presently buying and selling at Rs 77,008, down 0.17 % or Rs 128. This week goes to be essential by way of gold prices. There goes to be a giant meeting of the US Central Bank Federal Reserve this week. Gold prices have fallen before this meeting.
Gold slipped under Rs 77000 on MCX
There is a fall in gold prices on MCX on Monday, December 16, 2024. Gold on MCX has slipped under Rs 77000. From the final closing, gold prices have fallen by Rs 177 to Rs 76,959, which is presently buying and selling at Rs 76,977 per 10 grams. A decline can also be being seen within the prices of silver. Silver is buying and selling at Rs 90,838 per kg with a fall of 0.18 % or Rs 163.
Keep a watch on the Federal Reserve meeting
The US Central Bank Federal Reserve goes to be essential on December 18, 2024. The market is anticipating 1 / 4 % or 25 foundation level reduce in rates of interest in this meeting. Also, the Federal Reserve may also remark concerning fee reduce in 2025. Before this the commodity market could be very cautious. This is the explanation why gold prices are falling.
Year 2024 is nice for gold
The present 12 months has been excellent for gold investors. There has been an increase in gold prices resulting from international uncertainty, reduce in rates of interest and big purchases of gold by central banks. In the present 12 months, gold prices have elevated by greater than 20 %. The World Gold Council in its report has predicted weak efficiency of gold in 2025. WGC has mentioned in its report that in 2025, gold will commerce across the present degree and the potential of an increase in prices could be very much less.
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