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Gold Rate Today 18th December 2024: Ahead of the US Fed’s decision, gold prices are seeing a fall on Wednesday morning. Gold was also seen trading in the red in the domestic futures market. On Wednesday morning, gold for delivery on 5 February 2025 on the MCX exchange was seen trading at Rs 76,811 per 10 grams, down 0.08 percent or Rs 60. At the same time, gold closed with a gain in the domestic bullion market on Tuesday. Gold with 99.9 percent purity in the Delhi bullion market closed at Rs 79,300 per 10 grams on Tuesday, up by Rs 950. At the same time, the price of gold with 99.5 percent purity closed at Rs 78,900 per 10 grams, up by Rs 950.
Gold fell in the global market
The global price of gold has seen a decline on Wednesday morning. On the commodity market (Comex), gold was seen trading at $2,659 per ounce with a decline of 0.11 percent i.e. $2.80. At the same time, gold spot was seen trading at $2643.93 per ounce with a decline of 0.11 percent i.e. $2.90.
Third rate cut is expected
There are high expectations that the US Federal Reserve will announce the third rate cut today and give indications about the possibility of rate cuts for 2025. The two-day meeting of the US Federal Open Market Committee (FOMC) began on December 17. Today is the second day of this meeting. According to experts, a decision to cut the key interest rate by 0.25 percent may come today. Investors are eyeing how much the Fed can cut rates in the year 2025. Along with the Fed policy, investors are also focusing on US GDP and inflation data, which are to come this week.
