Gold Prices Today, December 12: 24K, 22K, 18K Prices Jump - Here’s Why Gold Is Rising

Gold prices are moving steadily toward their all-time high, with the spot market quoting the yellow metal at $4,271 per ounce on December 12 (8:30 am IST). In India, gold futures closed Thursday at ₹1,32,549 per 10 grams (24K) — a sharp 2.13% rise from the previous session.

During the festive season, gold had already touched a domestic performance peak of ₹1,35,024 per 10 grams on October 17, driven largely by the impact of US tariffs. Prices have climbed 1.77% over the past week and 1.73% over the past month.

However, soaring prices have dampened demand. India’s gold sales dropped 35% year-on-year in November 2025, with analysts pointing to the elevated price levels as the main cause.

The recent 25 bps rate cut by the US Federal Reserve has also boosted gold’s appeal. When interest rates fall, investors typically shift towards assets like gold, as returns from savings accounts or short-term bonds decline. Meanwhile, the Indian rupee appreciated slightly, standing at ₹90.490 per US dollar, up 0.29% in a day.

Gold Rates in India Today - December 12:

Gold prices vary depending on purity levels. Here are the latest rates:

10 grams of 24K: ₹1,30,740

10 grams of 22K: ₹1,19,850

10 grams of 18K: ₹98,060

Why Are Gold Prices Rising?

According to the Augmont Bullion Report (Dec 11), despite the Federal Reserve’s dovish interest-rate outlook for 2026, gold and silver remain strong due to heightened safe-haven demand amid geopolitical tensions.

The report cautions that if gold falls below $4,200 (₹1,29,000), the market could witness further selling pressure, potentially dragging prices to $4,100 (₹1,24,500).

Will Gold Maintain Momentum?

Gold continues to trade firmly both in the domestic market and on COMEX as it inches closer to record levels. Traders are now watching key economic cues — US job and inflation data for November, followed by a detailed Q3 economic growth report due next week. These indicators are expected to chart gold’s price direction in the coming days.