By Admin 
Gold-Silver Price Today: Before the decision of the US Federal Reserve to cut interest rates, the price of 10 grams of 24 carat gold in India was around Rs 130,000 and the price of 100 grams was around Rs 13,00,000. As soon as the Federal Reserve announced a reduction of 25 basis points, there was a rise in the prices of gold and silver today.
Gold price rises on MCX
On December 11, an increase of 0.50 percent was seen in the prices of gold on MCX (Multi Commodity Exchange). Around 10 am, the MCX gold futures contract with February 2026 expiry was seen rising by Rs 667, or 0.51 per cent, and trading at Rs 130,463 per 10 grams.
Whereas MCX March contract silver jumped by Rs 3,334 i.e. 1.9 percent and was seen trading at Rs 192,400 per kg. Before the Fed rate cut, the price of 10 grams of 24 carat gold was Rs 1,30,320, the price of 22 carat was Rs 1,19,460 and the price of 18 carat was Rs 97,740. Now they are close to their record high.
What is the price of 24 and 22 carat today?
Today in the country, the price of 24 carat gold is Rs 13,032 per gram, the price of 22 carat gold is Rs 11,946 per gram and the price of 18 carat gold (also known as 999 gold) is Rs 9,774 per gram. At the same time, 100 grams of gold is available for Rs 13,03,200 in 24 carat, Rs 11,94,600 in 22 carat and Rs 97,740 in 18 carat.
Rise in silver price also
Whereas, if we talk about silver, it is now close to touching the level of Rs 2 lakh. Today the price of 1 kg silver is Rs 1,99,000, while the rate of 100 grams and 10 grams of silver is Rs 19,900 and Rs 1,990 respectively.
Fed Reserve cut rates by 25 basis points
The US Federal Open Market Committee (FOMC) took the decision to cut benchmark interest rates on December 10 after a two-day long meeting. With the reduction of 0.25 basis points, it has now directly come down to the level of 3.75 percent from 3.50 percent. This is the lowest level in the last three years. However, the Federal Reserve cut interest rates with a tough stance. During the press conference, Federal Reserve Chairman Jerome Powell indicated that there will be no further cuts in interest rates in the near future.
The reason for taking this step of the Fed is especially in view of the softening of the labor market in view of the increased inflation. The Federal Reserve does this to control inflation, boost the economy, increase liquidity in the market, and protect the economy from recession. Market experts say that lower interest rates will reduce the cost of borrowing, which will give companies the opportunity to invest more. This is also a great opportunity for emerging markets like India, which is likely to increase foreign investment.
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