Latest Gold Rate in India – Updated on 29 Nov, 2024
Gold has always been a preferred investment and a symbol of wealth in India. As one of the largest consumers of gold globally, India witnesses frequent fluctuations in gold rates based on various factors such as international market trends, import duties, and domestic demand. Whether you’re buying gold for investment, jewelry, or as a hedge against inflation, it’s essential to stay updated with the current rates. In this post, we’ll provide the latest gold rate across different cities in India, as of 29th November 2024, along with an analysis of the key factors affecting these prices.
Gold Rate Today in India – 29th November 2024
Here are the current gold rates for 22 Carat and 24 Carat gold in India:
| Type of Gold | Rate per 10 grams | Price Change (₹) |
|---|---|---|
| 24 Carat Gold | ₹77,513 | – ₹180 |
| 22 Carat Gold | ₹71,063 | – ₹170 |
Gold prices are sensitive to global events, the value of the Indian Rupee, and domestic taxes. In India, 24 Carat gold is the purest form of gold with 99.99% purity, often used in investment, while 22 Carat gold contains 91.67% gold and is commonly used in jewelry.
Gold Prices in Major Indian Metro Cities – 29th Nov, 2024
The price of gold varies slightly across different metro cities due to factors like local demand, taxes, and transportation costs. Below are the current gold rates for both 24 Carat and 22 Carat gold in some of the major cities:
| City | 24 Carat Gold (₹/10g) | 22 Carat Gold (₹/10g) |
|---|---|---|
| Bangalore | ₹77,355 | ₹70,905 |
| Chennai | ₹77,361 | ₹70,911 |
| Delhi | ₹77,513 | ₹71,063 |
| Kolkata | ₹77,365 | ₹70,915 |
| Mumbai | ₹77,367 | ₹70,947 |
| Pune | ₹77,373 | ₹70,923 |
Gold Rate Trends in India for the Past 15 Days
Here’s a look at the price fluctuations in the last 15 days, highlighting the dynamic nature of gold prices:
Here are the gold rates for the last 15 days in a table format:
| Date | 22 Carat Price (₹) | Change in 22 Carat Price (₹) | 24 Carat Price (₹) | Change in 24 Carat Price (₹) |
|---|---|---|---|---|
| Nov 28, 2024 | ₹71,233 | + ₹270 | ₹77,693 | + ₹290 |
| Nov 27, 2024 | ₹70,963 | – ₹1,200 | ₹77,403 | – ₹1,310 |
| Nov 26, 2024 | ₹72,163 | – ₹1,000 | ₹78,713 | – ₹1,090 |
| Nov 25, 2024 | ₹73,163 | – ₹10 | ₹79,803 | – ₹10 |
| Nov 24, 2024 | ₹73,173 | + ₹740 | ₹79,813 | + ₹810 |
| Nov 23, 2024 | ₹72,433 | + ₹800 | ₹79,003 | + ₹870 |
| Nov 22, 2024 | ₹71,633 | + ₹300 | ₹78,133 | + ₹330 |
| Nov 21, 2024 | ₹71,333 | + ₹500 | ₹77,803 | + ₹550 |
| Nov 20, 2024 | ₹70,833 | + ₹700 | ₹77,253 | + ₹760 |
| Nov 19, 2024 | ₹70,133 | + ₹620 | ₹76,493 | + ₹680 |
| Nov 18, 2024 | ₹69,513 | – ₹10 | ₹75,813 | – ₹10 |
| Nov 17, 2024 | ₹69,523 | – ₹110 | ₹75,823 | – ₹120 |
| Nov 16, 2024 | ₹69,633 | + ₹120 | ₹75,943 | + ₹130 |
| Nov 15, 2024 | ₹69,513 | – ₹1,100 | ₹75,813 | – ₹1,200 |
This table gives a clear view of how the gold rates have fluctuated over the past 15 days. It shows the changes in both 22 Carat and 24 Carat gold prices.
As you can see, the price of gold has been fluctuating steadily with minor dips and increases over the past two weeks. This trend can be attributed to market dynamics, geopolitical situations, and currency fluctuations.
Factors Affecting Gold Rates in India
Several key factors influence the price of gold in India:
- International Market Trends: Global gold prices, often denominated in US dollars, directly impact local gold rates. A rise or fall in international gold prices will be reflected in the prices in India.
- Indian Rupee vs US Dollar: The value of the Indian Rupee against the US Dollar plays a significant role. If the Rupee weakens, gold prices tend to rise as India imports a significant portion of its gold requirements.
- Import Duties and Taxes: India imposes a 10% import duty on gold, which adds to the price of imported gold. Additionally, state-level taxes can also affect the final rate.
- Domestic Demand: India is one of the world’s largest consumers of gold, and demand during wedding seasons, festivals, or other cultural events can drive prices higher.
- Interest Rates and Inflation: Gold is often seen as a hedge against inflation and currency depreciation. When interest rates are low, more investors may turn to gold, increasing its demand and pushing prices up.
Here are the gold rates for 22 Carat and 24 Carat gold in different cities of India in a table format:
| City Name | 22 Carat Price (₹/10g) | 24 Carat Price (₹/10g) |
|---|---|---|
| Ahmedabad | ₹70,971 | ₹77,421 |
| Amritsar | ₹71,090 | ₹77,540 |
| Bangalore | ₹70,905 | ₹77,355 |
| Bhopal | ₹70,974 | ₹77,424 |
| Bhubaneswar | ₹70,910 | ₹77,360 |
| Chandigarh | ₹71,072 | ₹77,522 |
| Chennai | ₹70,911 | ₹77,361 |
| Coimbatore | ₹70,930 | ₹77,380 |
| Delhi | ₹71,063 | ₹77,513 |
| Faridabad | ₹71,095 | ₹77,545 |
| Gurgaon | ₹71,088 | ₹77,538 |
| Hyderabad | ₹70,919 | ₹77,369 |
| Jaipur | ₹71,056 | ₹77,506 |
| Kanpur | ₹71,083 | ₹77,533 |
| Kerala | ₹70,935 | ₹77,385 |
| Kochi | ₹70,936 | ₹77,386 |
| Kolkata | ₹70,915 | ₹77,365 |
| Lucknow | ₹71,079 | ₹77,529 |
| Madurai | ₹70,907 | ₹77,357 |
| Mangalore | ₹70,918 | ₹77,368 |
| Meerut | ₹71,089 | ₹77,539 |
| Mumbai | ₹70,947 | ₹77,367 |
| Mysore | ₹70,904 | ₹77,354 |
| Nagpur | ₹70,931 | ₹77,381 |
| Nashik | ₹70,967 | ₹77,417 |
| Patna | ₹70,959 | ₹77,409 |
| Pune | ₹70,923 | ₹77,373 |
| Surat | ₹70,978 | ₹77,428 |
| Vadodara | ₹70,984 | ₹77,434 |
| Vijayawada | ₹70,925 | ₹77,375 |
| Visakhapatnam | ₹70,927 | ₹77,377 |
These rates reflect the current prices of 22 Carat and 24 Carat gold in different cities. Prices can vary slightly depending on local taxes and demand. Always check with a reliable local jeweler for the most accurate prices.
Types of Gold Available in India
- 24 Carat Gold: Known for its purity (99.99%), this gold is commonly used for investment purposes. However, it is soft and not suitable for making jewelry due to its malleability.
- 22 Carat Gold: Contains 91.67% gold and is mixed with other metals like copper and zinc to make it more durable. This is the most popular choice for jewelry in India.
- Hallmarked Gold: Hallmarking is a certification system introduced by the Bureau of Indian Standards to guarantee the purity of gold. It assures buyers that the gold is free from adulteration.
Why Gold is a Safe Investment in India
Gold has been a part of Indian culture and wealth for centuries. It is a symbol of prosperity, a hedge against inflation, and a safe haven during times of economic uncertainty. Here are a few reasons why investing in gold can be beneficial:
- Inflation Hedge: Gold often performs well when inflation is high, making it a valuable investment during economic turmoil.
- Long-Term Value: Historically, gold has maintained its value over the long term, making it a reliable store of wealth.
- Diverse Investment Options: You can invest in gold through physical gold (coins, bars, jewelry), Exchange-Traded Funds (ETFs), Sovereign Gold Bonds (SGBs), or digital gold.
Conclusion: Stay Updated with the Latest Gold Rate
Gold prices in India are affected by various factors like international market conditions, currency fluctuations, and local demand. It is crucial to stay updated with the latest gold rate trends to make informed investment decisions. Whether you’re purchasing gold as a hedge against inflation or for its cultural significance, understanding the market is essential. The rates provided above reflect the current market scenario, but prices may vary from day to day.
FAQs About Gold
- Why should you invest in gold? Gold is a safe investment, especially during times of inflation or economic instability.
- What is the difference between 22K and 24K gold? 24K gold is purer than 22K gold. 22K is mixed with other metals to increase its strength.
- How are gold rates determined in India? Gold rates are influenced by international prices, currency exchange rates, domestic demand, and taxes.
- What is hallmarking? Hallmarking is a certification that ensures the purity of gold, protecting consumers from fraud.
Stay tuned for more updates on gold prices, and make sure to check back regularly to get the latest trends and information.