Today’s Gold Rate in India – Updated on 11 Dec, 2024
Gold has always been a popular investment choice in India, offering both financial security and aesthetic value through jewelry. If you’re looking for the most up-to-date gold prices in India, you’ve come to the right place. This guide will give you the latest gold rate in India and explain the factors that influence gold prices, making it easy for you to make informed decisions.
As of today, 11th December 2024, here are the gold rates in India:
| Gold Type | Price per 10 Grams (INR) | Change (INR) |
|---|---|---|
| 24 Carat Gold | ₹78,783 | +₹820 |
| 22 Carat Gold | ₹72,233 | +₹750 |
Gold rates in India are influenced by various factors, including the global price of gold (quoted in US dollars), import duties, taxes, and the performance of the Indian rupee against the dollar. Understanding these factors will help you better comprehend the gold price fluctuations in India.
Gold Rates in Major Indian Cities – 11th December 2024
Gold prices in India can vary slightly from city to city due to local taxes, demand, and supply. Below are the latest gold prices in major Indian cities:
| City | 24 Carat Gold (per 10 grams) | 22 Carat Gold (per 10 grams) |
|---|---|---|
| Bangalore | ₹78,625 | ₹72,075 |
| Chennai | ₹78,631 | ₹72,081 |
| Delhi | ₹78,783 | ₹72,233 |
| Kolkata | ₹78,635 | ₹72,085 |
| Mumbai | ₹78,637 | ₹72,087 |
| Pune | ₹78,643 | ₹72,093 |
These prices are for 10 grams of gold, and you may notice slight variations based on the dealer’s premiums, additional taxes, or local market conditions.
Gold Rates in Various Cities Across India
Gold prices can differ significantly between cities due to varying local factors. Here’s a quick overview of the current gold rates in various cities:
| City Name | 22 Carat Price (INR) | 24 Carat Price (INR) |
|---|---|---|
| Ahmedabad | ₹72,141 | ₹78,691 |
| Amritsar | ₹72,260 | ₹78,810 |
| Bangalore | ₹72,075 | ₹78,625 |
| Bhopal | ₹72,144 | ₹78,694 |
| Bhubaneswar | ₹72,080 | ₹78,630 |
| Chandigarh | ₹72,242 | ₹78,792 |
| Chennai | ₹72,081 | ₹78,631 |
| Coimbatore | ₹72,100 | ₹78,650 |
| Delhi | ₹72,233 | ₹78,783 |
| Faridabad | ₹72,265 | ₹78,815 |
| Gurgaon | ₹72,258 | ₹78,808 |
| Hyderabad | ₹72,089 | ₹78,639 |
| Jaipur | ₹72,226 | ₹78,776 |
| Kanpur | ₹72,253 | ₹78,803 |
| Kochi | ₹72,106 | ₹78,656 |
| Kolkata | ₹72,085 | ₹78,635 |
| Lucknow | ₹72,249 | ₹78,799 |
| Madurai | ₹72,077 | ₹78,627 |
| Mangalore | ₹72,088 | ₹78,638 |
| Meerut | ₹72,259 | ₹78,809 |
| Mumbai | ₹72,087 | ₹78,637 |
| Nagpur | ₹72,101 | ₹78,651 |
| Patna | ₹72,129 | ₹78,679 |
| Pune | ₹72,093 | ₹78,643 |
| Surat | ₹72,148 | ₹78,698 |
| Vadodara | ₹72,154 | ₹78,704 |
| Vijayawada | ₹72,095 | ₹78,645 |
| Visakhapatnam | ₹72,097 | ₹78,647 |
Gold Price Trends in the Last 15 Days
Gold prices have shown daily fluctuations, and understanding these changes can help you time your purchase or investment more wisely. Here’s a look at how gold prices have changed over the past two weeks:
| Date | 22 Carat Price (INR) | 24 Carat Price (INR) |
|---|---|---|
| Dec 10, 2024 | ₹71,483 +170 | ₹77,963 +180 |
| Dec 09, 2024 | ₹71,313 -10 | ₹77,783 -10 |
| Dec 08, 2024 | ₹71,323 -260 | ₹77,793 -280 |
| Dec 07, 2024 | ₹71,583 0 | ₹78,073 0 |
| Dec 06, 2024 | ₹71,583 +120 | ₹78,073 +130 |
| Dec 05, 2024 | ₹71,463 -20 | ₹77,943 -20 |
| Dec 04, 2024 | ₹71,483 +420 | ₹77,963 +450 |
| Dec 03, 2024 | ₹71,063 -600 | ₹77,513 -650 |
| Dec 02, 2024 | ₹71,663 -10 | ₹78,163 -10 |
| Dec 01, 2024 | ₹71,673 -120 | ₹78,173 -120 |
| Nov 30, 2024 | ₹71,793 +730 | ₹78,293 +780 |
| Nov 29, 2024 | ₹71,063 -170 | ₹77,513 -180 |
| Nov 28, 2024 | ₹71,233 +270 | ₹77,693 +290 |
| Nov 27, 2024 | ₹70,963 -1200 | ₹77,403 -1310 |
What Affects Gold Prices in India?
The price of gold in India is influenced by several factors, both local and international:
- Global Market Prices: The price of gold is primarily influenced by international markets. As gold is traded globally in USD, any fluctuation in the international price can affect Indian gold prices.
- Rupee-Dollar Exchange Rate: Since India imports a significant portion of its gold, fluctuations in the value of the Indian rupee against the US dollar directly impact gold prices. A weaker rupee leads to higher gold prices.
- Import Duties: India imposes an import duty of 10% on gold. Any change in these duties can affect gold prices in the country.
- Demand and Supply: The demand for gold, particularly for jewelry and investment, affects its price. During wedding seasons or festivals like Diwali and Akshaya Tritiya, the demand for gold usually rises.
- Global Economic Conditions: Political instability, inflation, and economic uncertainties tend to drive people towards gold as a “safe-haven” asset, thus driving up prices.
- Interest Rates: Lower interest rates make gold more attractive compared to other investments like bonds or savings accounts.
Why Is Gold Considered a Safe Investment?
Gold has been a reliable store of value for thousands of years, and it remains one of the safest investment options during times of economic instability. Here’s why:
- Hedge Against Inflation: Gold’s value tends to rise when inflation increases, making it a reliable store of wealth.
- Global Demand: As the most universally recognized form of currency, gold enjoys consistent demand across the world.
- Diversification: Including gold in your investment portfolio helps to diversify and reduce risk.
Frequently Asked Questions About Gold
- Why should you invest in gold? Gold is a stable and reliable investment that protects against inflation and economic downturns.
- What are the different types of gold? The two main types are 24K gold (pure gold, 99.99% purity) and 22K gold (92% pure gold, alloyed with other metals).
- How are gold prices determined in India? Gold prices in India are influenced by the global price of gold, the strength of the Indian rupee, taxes, import duties, and local demand.
- What is hallmarking? Hallmarking is a certification system that guarantees the purity of gold. In India, the Bureau of Indian Standards (BIS) oversees gold hallmarking.
- What is KDM gold? KDM gold refers to gold jewelry where cadmium is used as a solder in the manufacturing process. However, it is often avoided due to health concerns regarding cadmium.
Conclusion
Gold remains a popular and reliable investment option in India. By keeping an eye on the latest gold prices, understanding the factors that affect the price, and knowing where to buy, you can make informed decisions whether you’re buying gold for personal use or as an investment. The fluctuating gold prices in India provide opportunities for savvy investors to capitalize on price drops, while gold’s status as a “safe-haven” asset ensures its long-term appeal.
For the most accurate and up-to-date information on gold prices, make sure to check back regularly on our website. Stay informed and make the best investment decisions!