Gold Rate Today: Prices Cool Down, Check 1 Pound Gold Price
Gold Rate Today: Gold prices have eased slightly compared to yesterday, bringing some relief to buyers. On Friday, both gold and silver prices witnessed a decline in the domestic market, even as global factors continue to influence long-term trends.
Today’s Gold and Silver Prices in India
24 Carat Gold (10 grams): ₹1,39,920
22 Carat Gold (10 grams): ₹1,26,900
Silver Price (1 kg): ₹2,38,649
The prices reflect a short-term cooling after recent highs, especially in silver, which had earlier surged close to ₹2.75 lakh per kg.
What Is the Price of 1 Pound of Gold?
One pound equals 453.6 grams. Based on today’s 24-carat rate:
1 Pound Gold Price ≈ ₹6.35 lakh (approx.)
Global Gold Market Update
Internationally, gold is trading above $4,460 per ounce, remaining below its all-time high. Market sentiment is currently driven by:
Expectations of 60,000 new US jobs in December (Reuters poll)
Speculation that the US Federal Reserve may cut interest rates twice
Rising geopolitical tensions, including issues related to Venezuela and global political statements
In uncertain times, investors traditionally shift towards safe-haven assets like gold and silver, supporting long-term price strength.
Gold Price Outlook
HSBC has projected that gold prices could reach $5,000 per ounce by 2026, citing:
Lower interest rates
Growing geopolitical risks
Increasing demand for safe investments
Dollar vs Gold Relationship
The US dollar plays a crucial role in gold pricing:
Stronger dollar → Gold prices may fall
Weaker dollar → Gold prices tend to rise
This inverse relationship continues to shape global bullion markets.
Silver Price Trend
Silver has seen a sharp correction after its recent record levels. Analysts believe prices may gradually stabilize, though volatility could persist due to industrial demand and global supply concerns.
Conclusion
Gold prices have cooled slightly on January 9, offering a brief pause after recent highs. While short-term fluctuations continue, global economic uncertainty, interest rate expectations, and geopolitical tensions suggest that gold remains a strong long-term investment option. Investors are advised to closely monitor market trends before making decisions.
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