Gold price today, December 18: Spot rates decline 0.04% at $4,336, though safe-haven demand fuels prices; Check 24K, 22K, 18K prices in your city

Gold price today, December 18: Spot rates decline 0.04% at $4,336, though safe-haven demand fuels prices; Check 24K, 22K, 18K prices in your city

The spot price of gold, where the physical precious metal is bought and sold for immediate delivery, stood just above $4,336 an ounce on December 18 (10:49 am IST) on COMEX platform. The price is down 0.04 percent in a day and up 1.25 percent in a week.

Gold price in the domestic futures market on MCX, where trading involves standardised contracts to buy and sell the precious metal at a pre-determined price, opened the Thursday session at Rs 1,34,550 per 10 grams of 24-Carat purity, and continued to trade sideways at Rs 1,34,500 as of 10:51 am (IST). The price of precious metal is down 0.29 percent from its previous close.

Meanwhile, the rupee stood at 90.413 against the U.S. dollar on Thursday, representing a 0.19 percent gain in a week. The analyst maintains that the volatility is expected to persist, with the rupee likely to trade in the 89.80–90.80 range.

Gold prices vary by purity. Check out below to see the prices of gold based on its purity.

Source: Goodreturns

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

Source: Goodreturns

"Gold has made its biggest jump since the 1979 oil crisis in 2025, with prices doubling in the last two years, and silver has crossed all barriers, posting gains of more than 120% and breaking $65 as well. The safe haven demand, along with investor and industrial demand, has kept the momentum going for bullions,” said Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd.

According to Modi, the US non-farm payrolls data for both months, October and November, along with retail sales and housing numbers, were reported weaker than expectations, supporting gold and silver prices.

On the data front, the US unemployment rate rose to 4.6%, surpassing a Reuters poll of economists' estimate of 4.4%, the highest since September 2021. Last week, the US Federal Reserve delivered its third and final 25 bps cut of the year. Investors are now pricing in two 25-bps cuts in 2026, while the dot plot shows only one.

“Mixed comments from Fed officials in their recent appearances have also supported bullion. Fed Governor Christopher Waller, on the short list to succeed Chair Jerome Powell next year and scheduled to be interviewed for the job by U.S. President Trump later in the day, said he would "absolutely" defend the central bank's independence if it were challenged.

“Elsewhere, Trump ordered a blockade of all sanctioned oil tankers entering and leaving Venezuela, adding to safe-haven demand. Investors now await November's CPI due later in the day, and the PCE price index scheduled for tomorrow. Also, Interest rate decisions from the ECB and BOE are scheduled later today, where the former is expected to cut rates,” said Modi.