Gold Rates in India on 12th December 2024
Gold Rate Today: Everything You Need to Know
Gold, a timeless symbol of wealth and security, holds a special place in Indian households and investments. India, the world’s second-largest consumer of gold after China, heavily depends on imports to meet its demand. Factors such as international gold prices (denominated in dollars), import duties, and taxes directly influence domestic gold rates.
In addition to its cultural significance, gold is considered a hedge against inflation and a safe haven during economic uncertainty. Let’s explore the latest gold rates in India and dive deeper into factors influencing these prices.
Gold Rates in India on 12th December 2024
Here is a snapshot of today’s gold rates:
| Gold Type | Price | Change |
|---|---|---|
| 24 Carat Gold (10g) | ₹79,653 | +₹870 |
| 22 Carat Gold (10g) | ₹73,033 | +₹800 |
Gold Price in Major Metro Cities
| City | 24 Carat (₹/10g) | 22 Carat (₹/10g) |
|---|---|---|
| Bangalore | ₹79,495 (+₹870) | ₹72,875 (+₹800) |
| Chennai | ₹79,501 (+₹870) | ₹72,881 (+₹800) |
| Delhi | ₹79,653 (+₹870) | ₹73,033 (+₹800) |
| Kolkata | ₹79,505 (+₹870) | ₹72,885 (+₹800) |
| Mumbai | ₹79,507 (+₹870) | ₹72,887 (+₹800) |
| Pune | ₹79,513 (+₹870) | ₹72,893 (+₹800) |
Gold Price in Different Cities Across India
| City | 22 Carat (₹) | 24 Carat (₹) |
|---|---|---|
| Ahmedabad | ₹72,941 | ₹79,561 |
| Amritsar | ₹73,060 | ₹79,680 |
| Hyderabad | ₹72,889 | ₹79,509 |
| Jaipur | ₹73,026 | ₹79,646 |
| Kochi | ₹72,906 | ₹79,526 |
| Lucknow | ₹73,049 | ₹79,669 |
| Nagpur | ₹72,901 | ₹79,521 |
| Vijayawada | ₹72,895 | ₹79,515 |
Read More States Gold Rates Here
Gold Rate Trends Over the Last 06 Days
| Date | 22 Carat (₹) | 24 Carat (₹) |
|---|---|---|
| Dec 11, 2024 | ₹72,233 (+₹750) | ₹78,783 (+₹820) |
| 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 | ₹78,073 |
| Dec 06, 2024 | ₹71,583 (+₹120) | ₹78,073 (+₹130) |
Factors Influencing Gold Prices in India
- Global Market Trends: Gold rates are influenced by international economic conditions, including geopolitical events, inflation, and currency fluctuations.
- Exchange Rates: A weaker Indian rupee against the dollar increases gold prices.
- Import Duties: India levies a 10% import duty on gold, affecting its domestic price.
- Demand & Supply: Festivals and wedding seasons drive demand, often leading to a price surge.
- Interest Rates: Lower interest rates make gold a more attractive investment option.
Gold as an Investment Option
Gold can be invested in various forms:
- Physical Gold: Jewelry, coins, and bars.
- Digital Gold: Online platforms for purchasing small quantities.
- Gold ETFs: Tradeable instruments linked to gold prices.
- Sovereign Gold Bonds: Issued by the government with interest benefits.
FAQs About Gold in India
- Why invest in gold?
Gold is a hedge against inflation and a safe asset during uncertain times. - What are the types of gold available?
- 24K: Pure gold (99.99% purity).
- 22K: Alloyed gold (91.6% purity) suitable for jewelry.
- What is hallmarking?
A certification by the Bureau of Indian Standards (BIS) ensuring the purity of gold. - What is KDM gold?
Gold soldered with cadmium alloy, commonly used in jewelry-making.
Invest wisely in gold to secure your financial future while enjoying its timeless beauty.