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Gold, Silver Prices Rebound On MCX After Major One-Day Drop; Check City-Wise Rates

Gold, Silver Prices Rebound On MCX After Major One-Day Drop; Check City-Wise Rates
Gold and silver prices rebounded on MCX after a sharp fall, with gold at Rs 1,39,240 per 10g and silver at Rs 2,33,121 per kg. International prices surged on safe-haven demand.
Gold and Silver Rates Today, December 30: Gold and silver prices rebounded on Tuesday morning on MCX after seeing the biggest one-day fall yesterday. China's export restrictions, easing in geopolitical tensions, and profit-booking were among the major reasons behind the sudden fall in the prices of commodities.
Silver futures with expiry in March jumped 3.87 per cent today on MCX to trade at Rs 2,33,121 per kg around 9:30 AM. Likewise, gold futures were trading at Rs 1,39,240 per 10 grams, with a gain of 0.56 per cent.
Copper futures with expiry in January also saw a sharp jump of 3.29 per cent to trade at Rs 1,273.10.
In Mumbai, the price of 24-carat gold spot stood at Rs 1,40,030 per 10 grams, while 22k gold was available at Rs 1,28,360 per 10 grams. These rates do not include GST and making charges. Silver was available at Rs 2,40,100 per kg in the spot market.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On December 30?
In the international market also, gold prices surged to a record high, buoyed by safe-haven demand and rising expectations of further interest rate cuts by the US Federal Reserve.
At the international spot market, both gold and silver witnessed a sharp retreat, falling over 6 per cent in a single day. Silver was down 6.12 per cent to trade at USD 74.4 per ounce, while gold fell 3.85 per cent to trade USD 4,360 per ounce.
Gold has surged more than 70% this year, its biggest annual gain since 1979, driven by safe-haven demand, expectations of US rate cuts, robust central-bank buying, de-dollarisation trends and ETF inflows, with traders pricing in two rate cuts next year.
Silver has jumped more than 170% over the same period, outpacing gold on strong investment demand, its inclusion on the US critical minerals list and momentum buying.
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
Source: News18
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