Before the US Federal Reserve’s decision to cut interest rates, the price of 10 grams of 24-carat gold in India was around ₹130,000 and 100 grams was around ₹1,300,000. Gold and silver prices jumped today as the Fed announced a 25 basis point rate cut.
Gold prices rise on MCX
On December 11, gold prices on MCX (Multi Commodity Exchange) rose by 0.50 per cent. At around 10 am, MCX February 2026 expiry gold futures contracts were trading at ₹130,463 per 10 grams, higher by ₹667 or 0.51 per cent.
Meanwhile, MCX March silver contract was trading ₹3,334, or 1.9 per cent higher at ₹192,400 per kg. Before the Fed rate cut, 10 grams of 24-carat gold was priced at ₹130,320, 22-carat gold was priced at ₹119,460 and 18-carat gold was priced at ₹97,740. These prices are now close to their record highs.
What are the prices of 24 and 22-karat gold today?
Today, the price of 24-carat gold in the country is ₹13,032 per gram, 22-carat gold is priced at ₹11,946 per gram and 18-carat gold (also known as 999 gold) is priced at ₹9,774 per gram. 100 grams of 24-carat gold is available at ₹13,03,200, 22-carat at ₹11,94,600 and 18-carat at ₹97,740.
Silver prices also rise
As far as silver is concerned, it is now close to touching the ₹2 lakh mark. Today, 1 kg silver is priced at ₹1,99,000, while 100 gram and 10 gram silver rates are ₹19,900 and ₹1,990 respectively.
Federal Reserve cuts interest rates by 25 basis points
The US Federal Open Market Committee (FOMC) decided to cut benchmark interest rates on December 10 after a two-day meeting. With a cut of 0.25 basis points, the rate has come down from 3.75 percent to 3.50 percent. This is the lowest level in the last three years. However, the Federal Reserve took a dovish stance despite the rate cut. During the press conference, Fed Chairman Jerome Powell indicated that there would be no further cuts in interest rates in the near future.
This decision of the Fed was taken mainly in view of the rising inflation and weakening labor market. The Federal Reserve changes interest rates to control inflation, stimulate the economy, increase liquidity in the market, and prevent recessions. Market experts say that low interest rates will reduce the cost of borrowing, which will provide more investment opportunities to companies. This is also a great opportunity for emerging markets like India, as it is likely to increase foreign investment.
