Gold Prices Fall Dec 16; Indian Demand Low, Discounts Widen

• Gold prices fell on December 16 due to profit-booking.
• 24-carat gold in Mumbai was Rs 1,33,860 per 10 grams; 22k gold was Rs 1,22,700 per 10 grams (excluding GST/making charges).
• Gold discounts in India widened to up to $34 per ounce due to falling demand, despite the wedding season.
• Domestic gold prices hit a record high of 132,776 rupees per 10 grams on Friday.
• International market rates, import duties, taxes, and exchange rate fluctuations primarily influence Indian gold prices.

Why It Matters: Gold price shifts affect Indian consumers' finances and investment choices.