Due to the pressure of the strong dollar, the inquiries from investors in gold have weakened somewhat. A decline was seen in the international bullion futures market, the effect of which was also seen in the Indore market. In Indore, Gold Cadbury fell partially to Rs 78300 per ten grams.
.
Bullion traders had speculated that strong US economic growth would prompt the Federal Reserve to maintain a cautious stance on cutting rates in 2025. Fed Chairman Jerome Powell stressed restraint on future rate cuts after implementing a quarter-point rate cut in December.
A fall in the value of the rupee in India coupled with a surge in domestic prices capped demand for gold, leading to discounts of up to $14 an ounce, the highest in nearly three months. Rising costs and the absence of major festivals also curbed imports, which are expected to decline sharply in December.
After going up to $2614, gold futures on Comex were seen trading at $ 2628 per ounce and below at $ 2609 per ounce and after going up to $ 29.42, silver was seen trading at $ 29.51 and below at $ 29.16 per ounce.
Indore closing prices
In Indore, gold Cadbury Rava was quoted in cash at Rs 78300 (RTGS) 78300 Gold (91.60 carat) (RTGS) Rs 71700 per ten grams. On Saturday, gold had closed at Rs 78400. Silver Chaurasa was sold in cash at Rs 89000, Silver Chaurasa (RTGS) at Rs 88900, Silver Punch at Rs 89100 per kg and Silver Coin at Rs 1040 per piece. On Saturday, Chandi Chaurasa Cash had closed at Rs 89000.
Ujjain and Ratlam bullion
- Ujjain: Gold Cadbury was priced at Rs 78400, Gold Rava was Rs 78300 per ten grams, Silver Paat was Rs 89300, Silver Tunch was Rs 89200 per kg, Silver Coin was priced at Rs 1000 per piece.
- Ratlam: The price of Gold Cadbury was Rs 78350 per ten grams and Silver Pat was Rs 89350 per kg.
