Today’s Gold Rate in India: What You Need to Know – December 21, 2024
Gold has long been a symbol of wealth and security, particularly in India, where it plays a central role in the culture, economy, and investment strategies of many. Whether you’re planning to buy gold jewelry, invest in gold bars or coins, or simply keep an eye on today’s gold rate for financial planning, staying updated on the latest gold prices is crucial.
In this blog post, we’ll explore today’s gold rate in India, the factors influencing gold prices, and what it means for you as a buyer or investor.
Gold Rate Today in India – December 21, 2024
As of today, the gold rate in India stands at:
- 24 Carat Gold: ₹76,963 per 10 grams (down by ₹330)
- 22 Carat Gold: ₹70,563 per 10 grams (down by ₹300)
These are the prices for gold in its purest form (24K) and the more commonly used form for jewelry (22K). The fluctuation in gold prices is influenced by various factors, both domestic and international. Let’s dive deeper into the reasons behind these shifts and why understanding today’s gold rate is so important.
Gold Price in Major Indian Cities
Gold prices can vary slightly between cities due to factors such as local demand, taxes, and logistics. Here’s a quick look at today’s gold rate in major metro cities across India for both 22K and 24K gold:
24 Carat Gold Prices (per 10 grams):
- Bangalore: ₹76,805
- Chennai: ₹76,811
- Delhi: ₹76,963
- Kolkata: ₹76,815
- Mumbai: ₹76,817
- Pune: ₹76,823
22 Carat Gold Prices (per 10 grams):
- Bangalore: ₹70,405
- Chennai: ₹70,411
- Delhi: ₹70,563
- Kolkata: ₹70,415
- Mumbai: ₹70,417
- Pune: ₹70,423
As you can see, the prices are consistent across many major cities, but they can differ slightly depending on local conditions.
Why Do Gold Rates Fluctuate?
Gold prices are not fixed and fluctuate frequently due to a combination of international and domestic factors. Understanding these fluctuations is essential for anyone looking to invest or buy gold. Here are some key reasons why today’s gold rate might be higher or lower than expected:
- International Gold Prices: Gold is traded globally, and its prices are typically quoted in US dollars. When there is an increase in international demand for gold or a decline in other investment assets, gold prices tend to rise. Conversely, a drop in global demand or rising stock markets can lead to lower gold prices.
- Currency Exchange Rates: The Indian rupee’s performance against the US dollar directly impacts gold prices in India. A weaker rupee means that importing gold becomes more expensive, which in turn drives up local gold prices. Similarly, a stronger rupee could make gold cheaper.
- Global Economic and Political Conditions: Gold is often seen as a “safe haven” asset. In times of economic uncertainty or geopolitical tensions, investors flock to gold as a store of value, pushing up the price. Conversely, when the economy is stable, people tend to move away from gold, causing prices to drop.
- Domestic Factors (Taxes and Import Duties): India’s gold prices are also affected by domestic factors, such as the import duty (currently 10%) on gold. These taxes can cause the price of gold to rise. Additionally, state taxes, local market conditions, and transport costs can also influence the price from city to city.
- Inflation and Interest Rates: Inflation erodes the value of fiat currency, and investors often turn to gold to protect their wealth. Similarly, changes in interest rates (both domestically and internationally) can affect gold prices. When bond yields are low or inflation rises, gold tends to become more attractive.
Here is the gold rate in India:
| City Name | 22 Carat Price (₹/10g) | 24 Carat Price (₹/10g) |
|---|---|---|
| Ahmedabad | ₹70,471 | ₹76,871 |
| Amritsar | ₹70,590 | ₹76,990 |
| Bangalore | ₹70,405 | ₹76,805 |
| Bhopal | ₹70,474 | ₹76,874 |
| Bhubaneswar | ₹70,410 | ₹76,810 |
| Chandigarh | ₹70,572 | ₹76,972 |
| Chennai | ₹70,411 | ₹76,811 |
| Coimbatore | ₹70,430 | ₹76,830 |
| Delhi | ₹70,563 | ₹76,963 |
| Faridabad | ₹70,595 | ₹76,995 |
| Gurgaon | ₹70,588 | ₹76,988 |
| Hyderabad | ₹70,419 | ₹76,819 |
| Jaipur | ₹70,556 | ₹76,956 |
| Kanpur | ₹70,583 | ₹76,983 |
| Kerala | ₹70,435 | ₹76,835 |
| Kochi | ₹70,436 | ₹76,836 |
| Kolkata | ₹70,415 | ₹76,815 |
| Lucknow | ₹70,579 | ₹76,979 |
| Madurai | ₹70,407 | ₹76,807 |
| Mangalore | ₹70,418 | ₹76,818 |
| Meerut | ₹70,589 | ₹76,989 |
| Mumbai | ₹70,417 | ₹76,817 |
| Mysore | ₹70,404 | ₹76,804 |
| Nagpur | ₹70,431 | ₹76,831 |
| Nashik | ₹70,467 | ₹76,867 |
| Patna | ₹70,459 | ₹76,859 |
| Pune | ₹70,423 | ₹76,823 |
| Surat | ₹70,478 | ₹76,878 |
| Vadodara | ₹70,484 | ₹76,884 |
| Vijayawada | ₹70,425 | ₹76,825 |
| Visakhapatnam | ₹70,427 | ₹76,827 |
This table provides the gold rates in different cities in India, showing the price for both 22 Carat and 24 Carat gold per 10 grams.
Gold Rate Trends: Last 15 Days
Let’s take a look at how gold prices have changed over the last two weeks, giving us a clearer picture of the ongoing trends.
- Dec 20, 2024: ₹70,863 (22K) | ₹77,293 (24K)
- Dec 19, 2024: ₹71,513 (22K) | ₹78,003 (24K)
- Dec 18, 2024: ₹71,683 (22K) | ₹78,183 (24K)
- Dec 17, 2024: ₹71,563 (22K) | ₹78,053 (24K)
As we can see, gold prices have been fluctuating within a narrow range, with a slight downward trend as of today (December 21, 2024). These small changes are common and can be attributed to fluctuations in international markets, currency exchange rates, and demand.
Here is the table with the gold rates for the last 15 days:
| Date | 22 Carat Price (₹/10g) | Change (₹) | 24 Carat Price (₹/10g) | Change (₹) |
|---|---|---|---|---|
| Dec 20, 2024 | ₹70,863 | -650.00 | ₹77,293 | -710.00 |
| Dec 19, 2024 | ₹71,513 | -170.00 | ₹78,003 | -180.00 |
| Dec 18, 2024 | ₹71,683 | +120.00 | ₹78,183 | +130.00 |
| Dec 17, 2024 | ₹71,563 | 0.00 | ₹78,053 | 0.00 |
| Dec 16, 2024 | ₹71,563 | -10.00 | ₹78,053 | -10.00 |
| Dec 15, 2024 | ₹71,573 | -890.00 | ₹78,063 | -970.00 |
| Dec 14, 2024 | ₹72,463 | -550.00 | ₹79,033 | -600.00 |
| Dec 13, 2024 | ₹73,013 | -20.00 | ₹79,633 | -20.00 |
| Dec 12, 2024 | ₹73,033 | +800.00 | ₹79,653 | +870.00 |
| Dec 11, 2024 | ₹72,233 | +750.00 | ₹78,783 | +820.00 |
| Dec 10, 2024 | ₹71,483 | +170.00 | ₹77,963 | +180.00 |
| Dec 09, 2024 | ₹71,313 | -10.00 | ₹77,783 | -10.00 |
| Dec 08, 2024 | ₹71,323 | -260.00 | ₹77,793 | -280.00 |
| Dec 07, 2024 | ₹71,583 | 0.00 | ₹78,073 | 0.00 |
This table provides the 22 Carat and 24 Carat gold rates for the last 15 days along with the daily price change (in ₹) for each.
Types of Gold: 22K vs 24K
When looking at today’s gold rate, it’s essential to understand the difference between 22K and 24K gold:
- 24K Gold: This is pure gold (99.99% pure). It is often used for investment purposes and in gold bars and coins. However, since it’s relatively soft, it is not ideal for making durable jewelry.
- 22K Gold: Contains 91.67% gold, with the remaining 8.33% being made up of other metals like copper and zinc. It is more durable than 24K gold, which is why it’s commonly used for making gold jewelry in India.
Investment in Gold: A Safe Haven Asset
Gold has historically been considered a safe investment, particularly during times of inflation or economic instability. It acts as a hedge against inflation and currency devaluation, making it a preferred asset for investors seeking long-term wealth preservation.
- Physical Gold: Buying gold jewelry, coins, or bars remains the most traditional way of owning gold in India.
- Gold ETFs (Exchange-Traded Funds): These are digital forms of gold, allowing you to invest in gold without physically holding it. Gold ETFs are a popular choice for those who prefer a liquid and easily tradable form of gold.
- Sovereign Gold Bonds: Issued by the Indian government, these bonds offer both capital appreciation and periodic interest payments, making them an attractive option for investors.
FAQs About Gold
- Why should you invest in gold?
Gold is a safe-haven asset, providing a hedge against inflation, currency devaluation, and economic instability. - What are the various forms of investing in gold?
You can invest in gold through physical gold, ETFs, and Sovereign Gold Bonds. - Does India import gold?
Yes, India is the largest importer of gold in the world, primarily for its jewelry industry. - What is hallmarking of gold?
Hallmarking is a certification process that guarantees the purity of gold. It ensures the consumer gets genuine, unadulterated gold. - What is the difference between 22K and 24K gold?
24K gold is pure gold, while 22K gold is mixed with other metals for durability and is commonly used for jewelry.
Conclusion
Today’s gold rate is influenced by a wide array of factors, both domestic and international. By staying informed on the latest trends and understanding the intricacies of gold pricing, you can make more educated decisions whether you’re buying gold for personal use or as an investment.
Gold remains a stable and reliable asset for diversifying your investment portfolio, especially during times of market volatility. Whether you’re looking for pure gold bars, jewelry, or more liquid forms of gold like ETFs, there are various ways to gain exposure to this timeless precious metal.
Stay updated with today’s gold rate and other market trends to ensure you’re making the best financial decisions!
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