Gold Rate Today 18th December 2024: Ahead of the US Fed’s decision, a fall in gold prices is being seen on Wednesday morning. Gold was also seen trading in the red in the domestic futures market. On Wednesday morning on MCX exchange, gold for delivery on February 5, 2025 was seen trading at Rs 76,811 per 10 grams, down by 0.08 per cent or Rs 60. At the same time, gold closed with gains in the domestic bullion market on Tuesday. In the Delhi bullion market, gold of 99.9 percent purity had increased by Rs 950 on Tuesday and closed at Rs 79,300 per 10 grams. At the same time, the price of gold of 99.5 percent purity increased by Rs 950 and closed at Rs 78,900 per 10 grams.
Gold fell in the global market
Global prices of gold have seen a decline on Wednesday morning. On the commodity market (Comex), gold was seen trading at $ 2,659 an ounce, down 0.11 percent or $ 2.80. At the same time, gold spot was seen trading at $ 2643.93 an ounce with a decline of 0.11 percent or $ 2.90.
Third rate cut is expected
Expectations are high that the US Federal Reserve will announce its third rate cut today and will hint at the possibility of a rate cut for 2025. The two-day meeting of the US Federal Open Market Committee i.e. FOMC started on December 17. Today is the second day of this meeting. According to experts, a decision to reduce the key interest rate by 0.25 percent may come today. Investors’ eyes are on how much the Fed can cut rates in 2025. Along with Fed policy, investors are also focused on US GDP and inflation data, which are coming this week.
