Gold, Silver Prices Today, Dec 20: Yellow Metal Prices Jump In India

Gold prices witnessed a surge in India today as US dollar and Treasury yields slipped. Investors are also waiting for US economic data due this week on Friday that may offer higher clarity on the Fed's interest rate path. Spot gold added 0.6% to $2,039.67 an ounce. U.S. gold futures gained 0.81% to $2,038.40 an ounce, according to Reuters report.

US Treasury yields edged lower but held above multi-month lows reached last week as investors continued to monitor comments from Federal Reserve officials for indications on when the US central bank is likely to begin slashing interest rates. Treasury yields have declined since Fed Chair Jerome Powell took an unexpectedly dovish tone on Wednesday, added the Reuters report.

The price of 10 grams of 22 carat gold in India today is Rs 57,750 after the surge of Rs 350 while price of 10 grams of 24 carat yellow metal in the country is Rs 63,000 after the gain of Rs 380.

The price of 100 grams of 22 carat yellow metal in India is Rs 5,77,500 after the gain of Rs 3500. Cost of 100 grams of 24 carat gold is Rs 6,30,000 after the surge of Rs 3800.

Meanwhile, prices of silver also saw a rise in India. The price of 1 kg of silver in India today is Rs 78,500 after the gain of Rs 1000.

Gold prices in key metropolitan cities in India:

Gold Price Chennai: The price of 10 grams of 22 carat gold in Chennai is Rs 58,350 and cost of 10 grams of 24 carat yellow metal is Rs 63,650.

Gold Price Mumbai: The cost of 10 grams of 22 carat yellow metal in the financial capital of India is Rs 57,750 and cost of 10 grams of 24 carat gold is Rs 63,000.

Yellow Metal Price Delhi: Price of 10 grams of 22 carat gold in the national capital is Rs 57,900 and price of 10 grams of 24 carat gold is Rs 63,150.

Precious Metal Price Kolkata: Price of 10 grams of 22 carat gold in Kolkata today is Rs 57,750 and cost of 10 grams of 24 carat gold is Rs 63,000

Meanwhile, Oil prices recorded a significant surge on Tuesday. The uptick followed attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea, causing disruptions in maritime trade and prompting companies to redirect their vessels.

According to a Reuters report, Brent crude saw an increase of 71 cents, or 0.9%, reaching $78.66 per barrel by 1512 GMT. The U.S. West Texas Intermediate crude for January, set to expire on Tuesday, rose by 88 cents to $73.35. Meanwhile, the more active February contract gained 94 cents, reaching $73.75.