Gold and silver prices dropped in India today, December 19, following the U.S. Federal Reserve’s recent move to cut interest rates by 25 basis points. This shift has impacted global markets, and precious metal prices are feeling the pressure. Along with that, the strong U.S. dollar and bond yields have pushed gold and silver down further.

Investors and traders are also keeping an eye on key economic reports from the U.S., such as the upcoming GDP numbers and inflation data, which could influence metal prices in the days ahead.

Gold Prices in India Today

As of today:

• 24K gold costs around ₹7,713 per gram
• 22K gold is at ₹7,070 per gram

Here’s a breakdown of changes in gold prices compared to yesterday:

• 10g of 22K gold: ₹70,700 (down ₹650 from ₹71,350)
• 100g of 22K gold: ₹7,07,000 (down ₹6,500 from ₹7,13,500)
• 10g of 24K gold: ₹77,130 (down ₹710 from ₹77,840)
• 100g of 24K gold: ₹7,71,300 (down ₹7,100 from ₹7,78,400)
• 10g of 18K gold: ₹57,850 (down ₹530 from ₹58,380)
• 100g of 18K gold: ₹5,78,500 (down ₹5,300 from ₹5,83,800)

International Gold Price

Even with the rate cut, spot gold prices rose slightly:

• Spot gold moved up by 0.8{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247} to $2,607.88/oz
• U.S. gold futures dropped by 1.2{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247} to $2,620.60/oz

Other precious metals also saw minor changes:

• Palladium: $912.70/oz (up 1{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247})
• Platinum: $924.65/oz (up 0.6{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247})
• Silver (spot): $29.44/oz (up 0.3{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247})

Silver Prices in India Today

Silver prices also dropped sharply today. Current rates:

• Per gram: ₹91.50
• Per 10g: ₹915 (down ₹10 from ₹925)
• Per 100g: ₹9,150 (down ₹100)
• Per 1kg: ₹91,500 (down ₹1,000 from ₹92,500)

Expert View: What’s Next for Gold and Silver?

According to Dr. Renisha Chainani from Augmont, the Fed has cut rates for the third time since September. However, the central bank also signaled that it may not lower rates much more in 2025. Instead of the previously expected four cuts, only two are now likely.

She noted, “Inflation has dropped significantly in the past two years, though still slightly above the Fed’s 2{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247} target. This update led to a sharp drop in both gold and silver, as traders adjusted their expectations.”

Her forecast:

• Gold: If it falls below $2,600 (₹75,800), prices might slide further to $2,550 (₹74,900). If it recovers, it may rise back to $2,680 (₹77,000).
• Silver: After falling below $29.70 (₹88,500), the next support is at $29 (₹87,000). If it picks up again, it might return to $30.5 (₹91,000).

MCX Gold Price Movement in India

On the Multi Commodity Exchange (MCX), gold traded within a tight band:

• Range: ₹76,500 – ₹77,000
• Pattern: Inside bar candlestick (indicates indecision in market)

Key levels to watch:

• Support: ₹76,500 to ₹76,350
• If it breaks below, gold could head towards ₹76,000 or even ₹75,500.
• Resistance: ₹77,000 to ₹77,250

Analysts at Way2Wealth suggest using strict stop losses, especially with ongoing geopolitical tensions likely to keep markets volatile.

What’s New to Watch (Latest Info)

• U.S. GDP and inflation data this week could shake global markets again.
• Gold ETFs saw moderate outflows this week, reflecting cautious investor mood.
• Retail demand in India is expected to pick up closer to the New Year due to wedding season buying.

Key Takeaways

• Gold and silver dropped today in India, tracking global cues.
• U.S. Fed’s rate decision and a stronger dollar are the main factors.
• Analysts expect more movement ahead based on upcoming U.S. economic data.
• Domestic prices remain volatile — traders and buyers should stay cautious.

Read More: Gold and Silver Prices Today, December 18