Gold Rate in India (16 Dec 2024)
Gold Rates Today in India: All You Need to Know
Updated on 16 Dec, 2024
Gold has always been a symbol of wealth, prosperity, and security in India. As the world’s second-largest consumer of gold, India depends heavily on imports to meet its demand. This article explores the latest gold rates, factors affecting prices, and tips for investing in gold.
Gold Rates in India (16 Dec 2024)
National Gold Prices
- 24 Carat (10 grams): ₹78,063.00
- 22 Carat (10 grams): ₹71,573.00
Gold Rates in Metro Cities (Per 10 Grams)
| City | 24 Carat | 22 Carat |
|---|---|---|
| Bangalore | ₹77,905.00 | ₹71,415.00 |
| Chennai | ₹77,911.00 | ₹71,421.00 |
| Delhi | ₹78,063.00 | ₹71,573.00 |
| Kolkata | ₹77,915.00 | ₹71,425.00 |
| Mumbai | ₹77,917.00 | ₹71,427.00 |
| Pune | ₹77,923.00 | ₹71,433.00 |
Gold Rates in Major Indian Cities (Per 10 Grams)
| City | 22 Carat | 24 Carat |
|---|---|---|
| Ahmedabad | ₹71,481.00 | ₹77,971.00 |
| Hyderabad | ₹71,429.00 | ₹77,919.00 |
| Jaipur | ₹71,566.00 | ₹78,056.00 |
| Lucknow | ₹71,589.00 | ₹78,079.00 |
| Visakhapatnam | ₹71,437.00 | ₹77,927.00 |
For detailed rates in more cities, refer to the comprehensive table above.
Gold Price Trends Over the Past 5 Days
| Date | 22 Carat (₹) | 24 Carat (₹) |
|---|---|---|
| Dec 15, 2024 | ₹71,573 (-890) | ₹78,063 (-970) |
| Dec 14, 2024 | ₹72,463 (-550) | ₹79,033 (-600) |
| Dec 13, 2024 | ₹73,013 (-20) | ₹79,633 (-20) |
| Dec 12, 2024 | ₹73,033 (+800) | ₹79,653 (+870) |
| Dec 11, 2024 | ₹72,233 (+750) | ₹78,783 (+820) |
Gold rates are subject to fluctuations based on global and domestic factors. Monitoring these trends can help investors make informed decisions.
Factors Affecting Gold Prices in India
- International Prices: Gold prices are tied to global market trends and are denominated in US dollars.
- Currency Exchange Rate: A weaker rupee against the US dollar increases gold prices in India.
- Import Duties: India imposes a 10% import duty on gold, affecting domestic rates.
- Economic and Political Factors: Inflation, interest rates, and geopolitical events significantly impact gold prices.
Gold Investment in India
Gold remains a popular investment choice due to its stability and security. Here are some options:
- Physical Gold: Jewelry, coins, and gold bars.
- Digital Gold: Gold ETFs, sovereign gold bonds, or e-gold.
- Gold Mutual Funds: Managed by professionals and linked to the performance of gold prices.
Tips for Investing in Gold:
- Diversify your investment portfolio with gold as a hedge against inflation.
- Monitor historical price trends and market conditions.
- Consider hallmark-certified gold for assured purity.
Understanding Gold Purity
- 24K Gold: The purest form of gold (99.99% purity), but too soft for making jewelry.
- 22K Gold: Contains 22 parts gold and 2 parts alloy (copper, zinc), commonly used for ornaments.
- Hallmarked Gold: Certified by the Bureau of Indian Standards (BIS), ensuring quality and purity.
Gold Rates in Different Cities in India (16 Dec, 2024)
| City Name | 22 Carat Price (₹) | 24 Carat Price (₹) |
|---|---|---|
| Ahmedabad | 71,481 | 77,971 |
| Amritsar | 71,450 | 77,940 |
| Bangalore | 71,415 | 77,905 |
| Bhopal | 71,484 | 77,974 |
| Bhubaneswar | 71,420 | 77,910 |
| Chandigarh | 71,582 | 78,072 |
| Chennai | 71,421 | 77,911 |
| Coimbatore | 71,440 | 77,930 |
| Delhi | 71,573 | 78,063 |
| Faridabad | 71,605 | 78,095 |
| Gurgaon | 71,598 | 78,088 |
| Hyderabad | 71,429 | 77,919 |
| Jaipur | 71,566 | 78,056 |
| Kanpur | 71,593 | 78,083 |
| Kerala | 71,445 | 77,935 |
| Kochi | 71,446 | 77,936 |
| Kolkata | 71,425 | 77,915 |
| Lucknow | 71,589 | 78,079 |
| Madurai | 71,417 | 77,907 |
| Mangalore | 71,428 | 77,918 |
| Meerut | 71,599 | 78,089 |
| Mumbai | 71,427 | 77,917 |
| Mysore | 71,414 | 77,904 |
| Nagpur | 71,441 | 77,931 |
| Nashik | 71,477 | 77,967 |
| Patna | 71,469 | 77,959 |
| Pune | 71,433 | 77,923 |
| Surat | 71,488 | 77,978 |
| Vadodara | 71,494 | 77,984 |
| Vijayawada | 71,435 | 77,925 |
| Visakhapatnam | 71,437 | 77,927 |
FAQs About Gold
- Why should you invest in gold?
Gold acts as a hedge against inflation and a safe haven during economic uncertainty. - What is hallmarking of gold?
Hallmarking ensures the purity of gold, regulated by the BIS in India. - How are gold prices determined in India?
Prices are influenced by international market trends, currency exchange rates, and import duties.
Disclaimer
This information is for general purposes only. Consult a financial advisor before making gold investment decisions.
Stay updated with the latest gold rates and investment tips on Insidestoryy.com