India is witnessing new records in the price of gold today. The 22-karat gold is now being sold at ₹7,596 per gram and 24-karat gold or 999 purity at ₹8,286 per gram. Investors are rushing into this ageless asset, where gold shines on as a sound hedge against inflation and economic vagaries. This is a country where gold carries cultural and emotional value, hence its appeal transcends investment value, playing an important role in weddings, festivals, and all other celebrations.
City-Wise Price of Gold Today in India
Gold rates in major Indian cities are the same, with some minor differences. In Delhi, 22-karat gold costs ₹7,611 per gram, while Chennai, Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune have 22-karat gold at ₹7,596 per gram. Vadodara and Ahmedabad have a small difference, where 22-karat gold costs ₹7,601 per gram. The sameness in rates indicates that the demand for gold is high all over the country.
| City | 22K Rate Today (₹/gram) | 24K Rate Today (₹/gram) | 18K Rate Today (₹/gram) |
|---|---|---|---|
| Chennai | ₹7,596 | ₹8,286 | ₹6,276 |
| Mumbai | ₹7,596 | ₹8,286 | ₹6,215 |
| Delhi | ₹7,611 | ₹8,301 | ₹6,228 |
| Kolkata | ₹7,596 | ₹8,286 | ₹6,215 |
| Bangalore | ₹7,596 | ₹8,286 | ₹6,215 |
| Hyderabad | ₹7,596 | ₹8,286 | ₹6,215 |
| Kerala | ₹7,596 | ₹8,286 | ₹6,215 |
| Pune | ₹7,596 | ₹8,286 | ₹6,215 |
| Vadodara | ₹7,601 | ₹8,291 | ₹6,219 |
| Ahmedabad | ₹7,601 | ₹8,291 | ₹6,219 |
What Makes Gold Prices Move?
- Several factors influence the gold price in India today:
- Supply and Demand: The demand and supply balance of gold influences the prices.
- Central Bank Policies: Decisions by global central banks, like the Federal Reserve and the European Central Bank, affect the price of gold.
- Investor Behavior: Hedge funds, banks, and ETFs have a massive influence on the market.
- Geopolitical Tensions: During global unrest, gold prices are usually at an all-time high as investors rush to safe havens.
- Local Market Factors: The gold price in India is further affected by import duty, taxes, and the rupee’s conversion rate against foreign currencies.
Daily gold prices in India are established by the Indian Bullion and Jewelers Association (IBJA). Through aggregating quotes from major dealers, IBJA facilitates the availability of accurate pricing.
Why Gold Is Preferred Above All Else
With gold doubling as an investment and a social symbol, one cannot do away with it anywhere in India, especially with an ability to hedge against economic downswing. It remains a better asset for many investors and a family’s preferred asset. How the price for gold in India today mirrors eternal value is evidence that this great metal will persist as the most important form of Indian wealth throughout the ages to come.
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