Gold rate today: MCX gold prices rose nearly 1% in early trade on Monday, December 1, driven by growing expectations of interest rate cuts by the US Federal Reserve and the Reserve Bank of India (RBI) this month, while robust spot demand continues to provide key support. MCX gold February contracts were 0.71% up at ₹1,30,425 per 10 grams around 9:10 am, while the MCX silver March futures were 1.9% up at ₹1,78,289 at that time.
The Monetary Policy Committee (MPC) of the RBI will meet on December 3, 4, and 5 to decide on benchmark interest rates and the policy stance, at a time when inflation is at a record low and economic growth is robust.
On the other hand, the US Federal Open Market Committee (FOMC) will convene on December 9-10 to decide on the federal funds rate.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
