gold rate today mumbai – 29th Aug 2024
Table of Contents
Introduction
Gold has been a symbol of wealth and prosperity for centuries, and its value has remained relatively stable over time. In India, gold holds a special significance, not only as an investment but also as a cultural and traditional asset. The gold rate in Mumbai, being one of the major financial hubs in the country, is closely watched by investors and traders alike.
Gold Rate in Mumbai
As of 29th August 2024, the gold rate in Mumbai is as follows:
| Gold Category | Rate (per gram) |
|---|---|
| 1 Gram Gold | ₹5,200 |
| 10 Gram Gold | ₹52,000 |
| 18K Gold | ₹4,680 |
| 22K Gold | ₹5,720 |
| 24K Gold | ₹6,240 |
The rates mentioned above are subject to change based on market conditions and fluctuations in the international gold market.
Read: Gold Rate Today – August 29, 2024
Read: gold rate in every state (29th Aug 2024), Gold Price in India
Gold Rate in Other States
The gold rate can vary slightly across different states in India due to factors such as local taxes, transportation costs, and market demand. Here’s a table showing the gold rate in various states as of 29th August 2024:
| State | 1 Gram Gold Rate | 10 Gram Gold Rate |
|---|---|---|
| Delhi | ₹5,180 | ₹51,800 |
| Bangalore | ₹5,220 | ₹52,200 |
| Chennai | ₹5,240 | ₹52,400 |
| Kolkata | ₹5,190 | ₹51,900 |
| Hyderabad | ₹5,210 | ₹52,100 |
Factors Affecting Gold Price
The price of gold is influenced by various factors, including:
- Global Demand and Supply: The global demand for gold, driven by factors such as investment, jewelry, and industrial use, plays a significant role in determining its price.
- Economic Conditions: During times of economic uncertainty or inflation, investors often turn to gold as a safe-haven asset, driving up its demand and price.
- Currency Fluctuations: Since gold is traded globally, fluctuations in currency exchange rates can impact its price in different countries.
- Political and Geopolitical Factors: Political instability, conflicts, and trade tensions can influence the demand for gold as a hedge against risk.
Conclusion
Staying informed about the gold rate is crucial for anyone interested in buying or selling gold. The gold rate in Mumbai, as well as other states in India, is influenced by various factors, including global demand, economic conditions, and currency fluctuations. By keeping an eye on these factors and monitoring the gold rate regularly, you can make informed decisions about your investments or purchases.
Disclaimer
The information provided in this blog post is for general informational purposes only. While we strive to ensure the accuracy of the gold rates for August 29, 2024, as presented, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information for any particular purpose.
Gold prices are subject to fluctuations due to market conditions, and the rates provided may not reflect the most current market prices at the time of reading. We recommend verifying the gold prices with official sources or financial institutions before making any investment decisions.
Inside Storyy and its affiliates are not liable for any losses or damages arising from the use of this information. By using this blog, you agree to hold Inside Storyy harmless from any claims related to the use of this content.