Gold and Silver price today (December 12, 2023): Precious metal trade higher; Gold above Rs 61,300

Gold and Silver price today (December 12, 2023): Domestic precious metal futures traded in the green on Tuesday ahead of monetary policy decisions from major central banks this week.

Last seen, MCX gold futures (Feb 5) were up 0.32 per cent or Rs 195 at Rs 61,312 per 10 grams at the last count, having traded between Rs 61,232 and Rs 61,330 earlier in the day. MCX Silver futures (Mar 5) were up 0.45 per cent or Rs 320 at Rs 72,184 per kg.

In the international market, COMEX gold was up 0.32 per cent at $ 2000 per ounce.

"Gold prices corrected below $2000 levels in spot yesterday as focus has shifted to declining inflation with CPI data due today. The US consumer price index due later Tuesday will be closely watched for a clearer sense of whether the disinflation trend is continuing, as the same is expected to lead to expectations of the US Fed keeping interest rates higher for longer weighing on sentiments for Gold," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas expects the yellow metal to recover some of its losses before the release of the US CPI data. He sees support at $1975/$1960 and resistance at $1995/$2010.

Here's an indicative list of spot gold prices in some of the major Indian cities:   

City-wise gold price (24k) in India (December 12, 2023)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

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