Gold and Silver Rates Today, December 9: Check 24k and 22K Prices Update

Gold prices witnessed a sharp surge on Tuesday, December 9, reflecting strong momentum in both domestic and international markets. Ten grams of 24-carat gold is priced at Rs 1,32,227, while the price of 10 grams of 22-carat gold stands at Rs 1,19,950. Silver has also recorded a significant rise, with 1 kg priced at Rs 1,83,180.

The upward trend in gold continues for yet another week, largely driven by the depreciation of the US dollar. Although the prices remain close to their all-time highs, market analysts believe that the upcoming US Federal Reserve interest rate decision will play a crucial role. Most experts expect a 25-basis-point rate cut, which could further push gold prices upward, as lower interest rates generally make gold more attractive to investors.

In the international market, gold prices per ounce (31.1 grams) currently hover near $4,225, slightly lower than earlier levels of around $4,250. Analysts note that the minor dips observed recently are mainly due to profit-booking by investors, but retail gold rates in India continue to remain near record highs.

For buyers, purchasing gold jewellery has become increasingly difficult, with 22-carat gold nearing Rs 1.20 lakh per 10 grams. Meanwhile, silver prices have surged significantly, reaching record highs. Experts predict that silver may soon approach Rs 2 lakh per kg, driven by growing industrial demand, especially from global markets.

Overall, both gold and silver are showing strong upward momentum, and market watchers expect continued volatility in the coming days.