Gold Rate in India:10th December 2024 A Comprehensive Overview and Trends
Gold Rate in India: A Comprehensive Overview and Trends
Gold has long been a symbol of wealth and a trusted investment option. In India, it holds a special place in both culture and finance. As the world’s second-largest consumer of gold, India witnesses fluctuating gold rates that reflect both international market trends and domestic factors. Let’s delve into the latest gold rates for 10th December 2024 and explore how these rates are influenced by global developments, currency movements, and more.
Current Gold Rates in India (10th December 2024)
Below is a table showcasing the current gold prices in India:
| Gold Type | Price per 10 grams | Change (₹) |
|---|---|---|
| 24 Carat Gold | ₹77,963 | +₹180 |
| 22 Carat Gold | ₹71,483 | +₹170 |
India is a key player in the global gold market, and the prices of gold in the country are determined by a mix of global gold prices, the value of the Indian rupee, import duties, and taxes. The demand for gold in India is largely driven by the jewelry industry, with a significant portion of the gold being imported.
Gold Prices in Major Indian Cities (10th December 2024)
Gold prices can vary slightly from city to city due to local taxes and other regional factors. Here’s an overview of gold prices across various Indian metro cities:
| City | 24 Carat Price (per 10g) | 22 Carat Price (per 10g) |
|---|---|---|
| Bangalore | ₹77,805 | ₹71,325 |
| Chennai | ₹77,811 | ₹71,331 |
| Delhi | ₹77,963 | ₹71,483 |
| Kolkata | ₹77,815 | ₹71,335 |
| Mumbai | ₹77,817 | ₹71,337 |
| Pune | ₹77,823 | ₹71,343 |
Gold Prices in Different Cities Across India
The gold rates across other cities in India are listed below, showing slight variations depending on state taxes and demand:
Here is the table of Gold Rates in Different Cities in India for 22 Carat and 24 Carat gold:
| City Name | 22 Carat Price (per 10g) | 24 Carat Price (per 10g) |
|---|---|---|
| Ahmedabad | ₹71,391 | ₹77,871 |
| Amritsar | ₹71,510 | ₹77,990 |
| Bangalore | ₹71,325 | ₹77,805 |
| Bhopal | ₹71,394 | ₹77,874 |
| Bhubaneswar | ₹71,330 | ₹77,810 |
| Chandigarh | ₹71,492 | ₹77,972 |
| Chennai | ₹71,331 | ₹77,811 |
| Coimbatore | ₹71,350 | ₹77,830 |
| Delhi | ₹71,483 | ₹77,963 |
| Faridabad | ₹71,515 | ₹77,995 |
| Gurgaon | ₹71,508 | ₹77,988 |
| Hyderabad | ₹71,339 | ₹77,819 |
| Jaipur | ₹71,476 | ₹77,956 |
| Kanpur | ₹71,503 | ₹77,983 |
| Kerala | ₹71,355 | ₹77,835 |
| Kochi | ₹71,356 | ₹77,836 |
| Kolkata | ₹71,335 | ₹77,815 |
| Lucknow | ₹71,499 | ₹77,979 |
| Madurai | ₹71,327 | ₹77,807 |
| Mangalore | ₹71,338 | ₹77,818 |
| Meerut | ₹71,509 | ₹77,989 |
| Mumbai | ₹71,337 | ₹77,817 |
| Mysore | ₹71,324 | ₹77,804 |
| Nagpur | ₹71,351 | ₹77,831 |
| Nashik | ₹71,387 | ₹77,867 |
| Patna | ₹71,379 | ₹77,859 |
| Pune | ₹71,343 | ₹77,823 |
| Surat | ₹71,398 | ₹77,878 |
| Vadodara | ₹71,404 | ₹77,884 |
| Vijayawada | ₹71,345 | ₹77,825 |
| Visakhapatnam | ₹71,347 | ₹77,827 |
This table represents the 22 Carat and 24 Carat gold prices in different cities across India as of today. Prices may vary slightly depending on local market factors, taxes, and demand.
Factors Influencing Gold Prices in India
Gold rates in India are influenced by a variety of factors, both domestic and international:
- Global Market Trends: The price of gold is primarily determined in international markets like the London Bullion Market, and fluctuations in global prices are passed on to domestic prices.
- Currency Exchange Rates: Gold is usually priced in US dollars, so any changes in the exchange rate between the Indian rupee and the US dollar can impact domestic gold prices. A weaker rupee leads to higher gold prices.
- Import Duties: India imposes a 10% import duty on gold, which directly affects the domestic price of gold.
- Inflation and Geopolitical Events: Gold is often considered a safe haven investment during times of economic uncertainty or geopolitical instability, leading to an increase in demand and prices.
Gold Rate Trends Over the Last 15 Days
Here’s a snapshot of how gold prices have moved in the last two weeks:
Here is the table representing Gold Rate for the Last 15 Days:
| Date | 22 Carat Price (per 10g) | Change (22 Carat) | 24 Carat Price (per 10g) | Change (24 Carat) |
|---|---|---|---|---|
| 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 |
| Dec 06, 2024 | ₹71,583 | 120.00 | ₹78,073 | 130.00 |
| Dec 05, 2024 | ₹71,463 | -20.00 | ₹77,943 | -20.00 |
| Dec 04, 2024 | ₹71,483 | 420.00 | ₹77,963 | 450.00 |
| Dec 03, 2024 | ₹71,063 | -600.00 | ₹77,513 | -650.00 |
| Dec 02, 2024 | ₹71,663 | -10.00 | ₹78,163 | -10.00 |
| Dec 01, 2024 | ₹71,673 | -120.00 | ₹78,173 | -120.00 |
| Nov 30, 2024 | ₹71,793 | 730.00 | ₹78,293 | 780.00 |
| Nov 29, 2024 | ₹71,063 | -170.00 | ₹77,513 | -180.00 |
| Nov 28, 2024 | ₹71,233 | 270.00 | ₹77,693 | 290.00 |
| Nov 27, 2024 | ₹70,963 | -1200.00 | ₹77,403 | -1310.00 |
| Nov 26, 2024 | ₹72,163 | -1000.00 | ₹78,713 | -1090.00 |
This table provides the gold prices for the last 15 days along with the daily change for both 22 Carat and 24 Carat gold in India.
As you can see, gold prices have seen a steady increase over the past week, with small fluctuations depending on market trends.
Conclusion: Why Invest in Gold?
Gold is considered a stable investment in uncertain times, acting as a hedge against inflation and currency fluctuations. Whether you’re looking to invest in 24K pure gold or the more durable 22K gold used for jewelry, it remains a valuable asset in any investment portfolio.
Gold prices in India are influenced by a combination of global events, domestic factors like taxes, and currency fluctuations. Understanding these factors will help you make informed decisions about buying or investing in gold. Whether in the form of jewelry, coins, or bars, gold remains a timeless symbol of wealth and security.
FAQs About Gold
- Why should you invest in gold?
- Gold is a safe-haven asset and a hedge against inflation, economic instability, and currency fluctuations.
- What are the various forms of investing in gold?
- You can invest in physical gold (jewelry, coins, bars), gold ETFs, and sovereign gold bonds.
- How are gold prices determined in India?
- Gold prices are influenced by global market trends, import duties, currency fluctuations, and demand.
- What is hallmarking of gold?
- Hallmarking certifies the purity of gold, ensuring that it meets Indian standards.
Stay updated with the latest gold rates and trends, and make informed decisions when buying or investing in gold.