Gold Price Today: Yellow Metal Rises, Silver Falls; Check City-Wise Rates On December 9

Gold prices are trending upward on Tuesday, December 9, 2025, while silver is experiencing a decline. Market analysts are closely watching the upcoming US Federal Reserve interest rate decision, which is expected to play a crucial role in the future direction of gold prices.

Gold Market Update

The price of gold has seen a slight increase today. According to Trading Economics, gold rose to $4,195.06 USD/t.oz, a 0.12% increase from the previous day. Over the past month, gold's price has increased by 1.92%, and it is up 55.60% compared to the same time last year.

• 24-Carat Gold: In India, the price of 24-carat gold, known for its high purity, is Rs 1,32,227 per 10 grams. In Delhi, the price is Rs 77,930 per 10 grams.
• 22-Carat Gold: The rate of 22-carat gold, often used in jewelry, is Rs 1,19,950 per 10 grams. In Delhi, the rate is Rs 71,450 per 10 grams.

These base rates may see small variations depending on local taxes, logistics, and jeweler pricing policies.

Silver Market Update

While gold prices are rising, silver prices have recorded a significant rise. However, silver declined Rs 300 to Rs 93,500 per kg. According to Sakshi Post, 1 kg of silver is priced at Rs 1,83,180. Experts predict that silver may soon approach Rs 2 lakh per kg, driven by growing industrial demand, especially from global markets.

Factors Influencing Gold Prices

Several factors are influencing the current trends in the gold market:

• US Federal Reserve Policy: The anticipated Federal Reserve (FED) meeting is a key factor influencing gold prices. The Fed is widely expected to deliver a 25-bps rate cut. Market participants will be closely watching the updated economic projections and remarks from Chair Jerome Powell for hints on the central bank's plans for 2026 and beyond. Lower interest rates generally make gold more attractive to investors.
• US Economic Data: Investors are assessing the JOLTS job openings data. Stronger-than-expected US macroeconomic data might push the Fed to pause rate cuts, which may negatively impact gold prices.
• Geopolitical Tensions: Geopolitical tensions, such as the Russia-Ukraine conflict or Middle East issues, de-escalate, Gold may face downward pressure after benefiting from these crises.
• Central Bank Buying: Central banks consistently high levels of purchases are expected, given the current macro environment as well as a further expansion in investor holdings, particularly from exchange-traded funds (ETFs) and China.
• Dollar Depreciation: The upward trend in gold continues, largely driven by the depreciation of the US dollar. Traditionally, a weaker U.S. dollar and lower U.S. interest rates increase the appeal of non-yielding bullion.

Market Forecasts

Gold prices are expected to trade at $4216.94 USD/t oz. by the end of this quarter. Looking forward, estimates predict it to trade at $4465.49 in 12 months. J.P. Morgan Research expects prices to average $3,675/oz by the final quarter of 2025, rising toward $4,000/oz by the second quarter of 2026. Ventura forecasts gold prices tocuhing $4,600–$4,800 driven by central bank buying and inflation risks.

City-Wise Gold Rates

Gold rates vary slightly across major cities due to labor charges and demand. In Pakistan, Karachi is the main hub for gold trading and price updates. Lahore's prices follow Karachi's market with minimal difference. Islamabad & Rawalpindi often have slightly higher retail prices due to lower competition. Sahiwal & Faisalabad local jewelers adjust rates based on availability.