Today’s Gold Rate in India: Updated for 19 Nov, 2024
Gold continues to be a sought-after precious metal, both as a hedge against inflation and a long-term investment. If you’re looking to buy or sell gold today, understanding the current gold rates is crucial for making informed decisions. In India, gold prices fluctuate daily based on international market conditions, the value of the Indian rupee, and various local factors.
In this blog, we provide the latest gold rates for major Indian cities, along with insights on how gold prices are determined and tips for investing in gold.
Current Gold Rates in India (As of 19 Nov, 2024)
Gold Price Today in India
| Gold Type | Price (Per 10 grams) | Change |
|---|---|---|
| 24 Carat Gold | ₹76,493 | +₹680 |
| 22 Carat Gold | ₹70,133 | +₹620 |
Gold Rates in Major Indian Cities
Here are the gold prices for 24K and 22K gold in some of India’s key metro cities on 19 Nov, 2024.
| City | 24 Carat Price (Per 10g) | 22 Carat Price (Per 10g) |
|---|---|---|
| Bangalore | ₹76,335 | ₹69,975 |
| Chennai | ₹76,341 | ₹69,981 |
| Delhi | ₹76,493 | ₹70,133 |
| Kolkata | ₹76,345 | ₹69,985 |
| Mumbai | ₹76,347 | ₹69,987 |
| Pune | ₹76,353 | ₹69,993 |
Factors Influencing Gold Prices in India
Gold prices in India are impacted by several factors, including:
- Global Economic Conditions: Changes in global economic conditions, such as inflation or geopolitical tensions, can drive investors toward gold as a safe haven.
- Currency Fluctuations: The value of the Indian rupee against the US dollar plays a significant role. A weaker rupee makes gold more expensive in India.
- Import Duties and Taxes: The Indian government imposes import duties and taxes on gold imports, which directly impact gold prices within the country.
- Demand and Supply Dynamics: As a major importer of gold, India’s demand for gold can influence price fluctuations.
Here are the gold rates in different cities in India
| City Name | 22 Carat Price (₹) | 24 Carat Price (₹) |
|---|---|---|
| Ahmedabad | ₹70,041 | ₹76,401 |
| Amritsar | ₹70,160 | ₹76,520 |
| Bangalore | ₹69,975 | ₹76,335 |
| Bhopal | ₹70,044 | ₹76,404 |
| Bhubaneswar | ₹69,980 | ₹76,340 |
| Chandigarh | ₹70,142 | ₹76,502 |
| Chennai | ₹69,981 | ₹76,341 |
| Coimbatore | ₹70,000 | ₹76,360 |
| Delhi | ₹70,133 | ₹76,493 |
| Faridabad | ₹70,165 | ₹76,525 |
| Gurgaon | ₹70,158 | ₹76,518 |
| Hyderabad | ₹69,989 | ₹76,349 |
| Jaipur | ₹70,126 | ₹76,486 |
| Kanpur | ₹70,153 | ₹76,513 |
| Kerala | ₹70,005 | ₹76,365 |
| Kochi | ₹70,006 | ₹76,366 |
| Kolkata | ₹69,985 | ₹76,345 |
| Lucknow | ₹70,149 | ₹76,509 |
| Madurai | ₹69,977 | ₹76,337 |
| Mangalore | ₹69,988 | ₹76,348 |
| Meerut | ₹70,159 | ₹76,519 |
| Mumbai | ₹69,987 | ₹76,347 |
| Mysore | ₹69,974 | ₹76,334 |
| Nagpur | ₹70,001 | ₹76,361 |
| Nashik | ₹70,037 | ₹76,397 |
| Patna | ₹70,029 | ₹76,389 |
| Pune | ₹69,993 | ₹76,353 |
| Surat | ₹70,048 | ₹76,408 |
| Vadodara | ₹70,054 | ₹76,414 |
| Vijayawada | ₹69,995 | ₹76,355 |
| Visakhapatnam | ₹69,997 | ₹76,357 |
Additionally, gold is available in two primary forms in India:
- 24 Carat Gold (24K): This is the purest form of gold, with a purity of 99.99%. It is generally used for investment purposes but is too soft to be crafted into jewelry.
- 22 Carat Gold (22K): Composed of 22 parts of pure gold and two parts of other metals like copper or zinc, this gold is more durable and commonly used in jewelry.
Historical Gold Price Trends
Below is a quick snapshot of the recent trend in gold prices over the last 14 days:
| Date | 22 Carat Price | 24 Carat Price |
|---|---|---|
| Nov 18, 2024 | ₹69,513 | ₹75,813 |
| Nov 17, 2024 | ₹69,523 | ₹75,823 |
| Nov 16, 2024 | ₹69,633 | ₹75,943 |
| Nov 15, 2024 | ₹69,513 | ₹75,813 |
| Nov 14, 2024 | ₹70,613 | ₹77,013 |
| Nov 13, 2024 | ₹70,623 | ₹77,023 |
| Nov 12, 2024 | ₹71,023 | ₹77,463 |
| Nov 11, 2024 | ₹72,373 | ₹78,933 |
| Nov 10, 2024 | ₹72,923 | ₹79,533 |
| Nov 09, 2024 | ₹72,923 | ₹79,533 |
| Nov 08, 2024 | ₹73,023 | ₹79,643 |
| Nov 07, 2024 | ₹72,173 | ₹78,733 |
| Nov 06, 2024 | ₹73,823 | ₹80,523 |
| Nov 05, 2024 | ₹73,723 | ₹80,413 |
Why is Gold So Popular in India?
India has a deep-rooted cultural affinity for gold, and it remains a favored investment option. Gold is often considered a safe investment, especially in times of economic uncertainty. It’s also seen as a symbol of wealth and is commonly used in weddings and religious ceremonies.
As the second-largest consumer of gold globally, India imports large quantities of gold to meet the demands of the jewelry industry. This high demand, combined with factors like global gold prices and import duties, plays a significant role in determining the price of gold in Indian markets.
Investing in Gold: Your Options
Gold can be purchased in various forms, including:
- Physical Gold: This includes gold coins, bars, and jewelry. However, buying physical gold comes with the risk of storage and purity issues.
- Gold ETFs (Exchange-Traded Funds): These are digital assets that track the price of gold and can be traded on stock exchanges. They offer the benefit of liquidity without the need for physical storage.
- Sovereign Gold Bonds: These are government-backed securities that provide a fixed return along with the benefits of gold price appreciation.
- Gold Mutual Funds: These funds invest in gold mining companies or gold-backed securities and are another way to gain exposure to gold without owning physical gold.
Conclusion
Understanding the gold rate in India is essential for anyone looking to invest or trade in gold. Whether you’re buying for investment purposes or as part of a cultural tradition, knowing the current rates and trends can help you make more informed decisions. Keep an eye on factors like international gold prices, exchange rates, and local taxes, as these can all influence the price of gold in India.
Make sure to stay updated on the latest trends and prices to ensure you’re making the most of your investment in gold.