Gold Rate Today: Gold has become cheaper, the impact of Fed Reserve’s announcement, know the price per 10 grams

Gold prices fell in the national capital on Thursday. The US Fed’s indication of only two rate cuts in 2025 affected the price of gold. According to the All India Sarafa Association, the precious metal of 99.9 percent purity fell by Rs 800 to Rs 78,300 per 10 grams. According to PTI news, it closed at Rs 79,100 per 10 grams in the previous trading session on Wednesday. The price of gold of 99.5 percent purity fell by Rs 800 to Rs 77,900 per 10 grams on Wednesday as against the previous closing price of Rs 78,700 per 10 grams. Prices fell due to sluggish demand from jewelers amid weak global sentiment.

According to the news, traders said that bullion prices fell after US Federal Reserve Chairman Jerome Powell took a dovish stance after the US central bank’s decision to cut interest rates. The Fed now forecasts only two quarter percentage points of rate cuts by the end of 2025, down from its forecast of four rate cuts in September.

gold in futures market

Gold contracts for February delivery fell by Rs 303, or 0.4 per cent, to Rs 76,350 per 10 gram in futures trading on MCX. Comex gold futures fell by $19.10 per ounce, or 0.72 per cent, to $2,634.10 per ounce in Asian trading session.

What do experts say

Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said gold fell sharply after the Federal Open Market Committee (FOMC) meeting as the Fed said the pace of interest rate cuts for next year will be lower than previously estimated. Chintan Mehta, Chief Executive Officer, Abans Holdings, said investors are awaiting US weekly unemployment claims data to be released later on Thursday to assess the strength of the labor market, while focus is on personal consumption expenditures (PCE) price index data on Friday.

These things are going on regarding prices

Mehta said that we expect gold prices to rise further, but any delay in additional reduction in interest rates could lead to a short-term decline, creating deposit opportunities. According to Nish Bhatt, Founder and CEO of Millwood Kane International, we expect volatility to continue, the main signals will be from the announcement of the new administration and trade tariffs in the US. Bhatt said that traders expect gold prices to remain strong given the geopolitical situation in the markets, however, some weakness in the rupee will be seen in the short to medium term.