The gold rate today in India is lower by a little margin. On October 25, 22-carat gold stood at around Rs 72,840 for every 10 grams, while the 24-carat gold of pure form was available at Rs 79,460 for every 10 grams. The latest city rates are being followed as the product is essential to Indian culture and is widely purchased during festivals. The direction in gold rate today in India is a perfect reflection of the ongoing market trends influenced by numerous global and domestic factors.
While the 22-carat gold continued to hold on at Rs 72,990 per 10 grams in Delhi and Jaipur and at Rs 72,840 in Mumbai, Kolkata and Hyderabad, the 24-carat variant held its ground at Rs 79,610 in Delhi and Jaipur and Rs 79,460 in Mumbai, Kolkata, and Hyderabad. As demand continues to rise, this rise in the gold rate today in India would tend towards the twoh-sided nature of gold-gold being an investment culture-specific and a gold culturally patronized.
Gold rate in India today: Why prices have dropped?
The recent drop is subsequent to a season of high demand, operating on festive buying and rate cuts the United States is likely to execute. Nevertheless, the safe haven of gold worked in its favor as it showed the precious metal relatively less sensitive to volatile fluctuations in the market. The government recently reduced the customs duty on gold, which resulted in a temporary decline in it; however, this has now stabilized as the interest of consumers is working again. Being that the India gold rate today depicts all these changes, traders are always on the lookout for updates to guide their purchasing.
In addition to international factors, the gold price per gram to Indian buyers accounts for various charges like customs charge and currency fluctuation, among others. Such a multi-layered pricing model adds an extra surcharge, thus influencing the India gold rate today.
Besides investment, people use gold to mark most significant moments in life: weddings and religious ceremonies. The current gold rate in India is of prime importance with respect to festivals taking place in the country and dictates purchasing habits for individual consumers and traders on markets.
Also, see: Gold prices in India today breach Rs 80,000 mark: Check latest rates in your city