Gold-Silver Price Today: The first day of December was full of ups and downs for gold and silver prices. At the beginning of the week, on Monday morning, where most people were expecting a rise, a slight decline was seen in the prices of gold. However, in the last one week, a tremendous rise in the price of gold has also been recorded, due to which the interest of investors remains constant.
Along with knowing the latest rates of big cities, let us understand what is happening in the international market and how it is affecting the Indian market.
Gold price slows down in Delhi
The price of 24 carat gold in the capital Delhi fell to Rs 129960 per 10 grams on Monday morning. This fall is mild, but gold has risen by around Rs 3980 in a week, which is a relief news for investors. At the same time, the price of 22 carat gold has also increased by about Rs 3650 in the last week. This means that after the recent rise, this fall is not considered too heavy.
Rate of 10 gram gold in major cities of the country on December 1
| City | 22 carat gold (₹/10 grams) | 24 carat gold (₹/10 grams) |
| Delhi | Rs 119,140 | Rs 129,960 |
| Mumbai | Rs 118,990 | Rs 129,810 |
| Ahmedabad | Rs 119,040 | Rs 129,860 |
| Chennai | Rs 118,990 | Rs 129,810 |
| Kolkata | Rs 118,990 | Rs 129,810 |
| Hyderabad | Rs 118,990 | Rs 129,810 |
| Jaipur | Rs 119,140 | Rs 129,960 |
| Bhopal | Rs 119,040 | Rs 129,860 |
| Lucknow | Rs 119,140 | Rs 129,960 |
| Chandigarh | Rs 119,140 | Rs 129,960 |
Silver also became cheaper
Along with gold, silver also showed a decline this morning and its price came down to Rs 184900 per kg. The interesting thing is that silver has risen by Rs 21,000 in a week. Even in the foreign market, the spot price of silver is around $53.81 per ounce. Silver prices in India are affected by both domestic and global factors.
Why can gold rise?
A big news is also coming from the international market. The US central bank Federal Reserve may cut interest rates in December. If this happens then further rise in the price of gold may be seen. Bonds are no longer attractive at low interest rates, in such a situation investors turn to safe assets i.e. gold. All investors’ eyes are on the FOMC meeting to be held on 9-10 December.
Will the rise of gold continue in future also?
Even though December has started with a slight decline, considering the strength of the last week, there is still hope for a rise in the market. The impact of the Fed meeting will be clearly visible in the coming days and investors are keeping an eye on it. In such a situation, if interest rates are cut, the shine of gold can increase once again.
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