Gold price today, December 10: Rates flat as investors await US Fed rate decision; Check 24K, 22K, 18K prices in your city

Gold price today

Spot gold price stood at $4,209 an ounce on December 10, as of 5:42 a.m IST, which is a jump of around 0.04 percent in the last 24 hours.

India’s December gold futures opened the Wednesday trade at Rs 1,30,369 per 10 grams of 24-carat purity, and continued to hover around Rs 1,30,152 as of 1:33 p.m (IST), which is a 0.0346 percent increase from the previous close.

Meanwhile, the rupee was trading at 90.072 against the U.S. dollar, which is 0.20 percent up in the last 24 hours.

Interest rate traders now comprise 87.6 percent vote for the probability of a 350-375 target rate bps in the two-day U.S Federal Reserve meeting that commenced on December 9, as per FedWatch data that tracks the probabilities of changes to the Fed rate.

The US Federal Reserve's chairman, Jerome Powell, is scheduled to announce the policy meeting outcome tonight at around 00:30 a.m IST.

The Indian Bullion and Jewellers Association (IBJA) announced the price of yellow at Rs 1,27,974 for 10 grams of 999 purity in their 18:30 rate session on December 9.

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Why are gold prices rising?

The Augmont Bullion report published on December 10 stated that gold is trading in a consolidated range, with resistance at $4,300 (Rs 1,31,400) and strong support at $4,200 (Rs 1,29,000). It suggests investors buy on dips and sell on rallies.

Outlook: Will gold continue momentum this week?

The Augmont Bullion noted that gold is trading in a range, while silver has reached a new high of $62 (Rs 1,90,000/kg). Markets are anticipating a Federal Reserve interest rate cut later in the day, as well as firmer signals on policy direction through 2026.

"There's a wide anticipation of a 25-basis-point hawkish cut, with Chair Jerome Powell expected to warn caution on future easing due to persistent inflation. Fresh data revealed resilience in the US labor market, with job postings continuing a sequence of higher-than-expected readings, while ADP data suggested a resurgence in private hiring in late November, complicating the Fed's view," it added.