Today's Gold Price: Gold and silver prices fell sharply in the bullion market of the national capital on Thursday due to sluggish demand from jewelers amid weak global trend. All India Sarafa Association gave this information. The price of gold of 99.9 percent purity fell by Rs 800 to Rs 78,300 per 10 grams. 

In the previous trading session on Wednesday, it closed at Rs 79,100 per 10 grams. Traders said that the head of the US central bank, Jerome Powell, has now indicated a reduction of only two quarters of a percent in interest rates by the end of 2025. Earlier the market had predicted four cuts in interest rates. On Thursday, silver also fell by Rs 2,000 to Rs 90,000 per kg. 

Prices also fell in the Asian market

In the previous session, silver had closed at Rs 92,000 per kg. On Wednesday, the price of 99.5 percent pure gold fell by Rs 800 to Rs 77,900 per 10 grams, while earlier its price had closed at Rs 78,700 per 10 grams. Comex gold futures fell by $ 19.10 per ounce to $ 2,634.10 per ounce in the Asian trading session. 

Saumil Gandhi, Senior Analyst (Commodity & Currency) at HDFC Securities, said, "Gold fell sharply after the Federal Open Market Committee (FOMC) meeting, as the Federal Reserve indicated a slower pace of interest rate cuts than previously estimated for the next year." In the international markets, silver fell 2.47 percent to $ 29.98 an ounce. 

What will be the sentiment in the new year?

According to the World Gold Council, a mix of possibilities and challenges can be seen for gold in 2025 amid the dynamic global economic scenario. Along with this, there is also a possibility of increase in the prices of the yellow metal.

Factors such as central bank actions, geopolitical tensions and evolving consumer and investor demand are considered important for gold's performance. With the new year, gold prices may remain stable or even register a slight increase in prices.