Gold Rate Today in India – December 5, 2024: A Comprehensive Guide
Gold has always been considered a reliable investment and a hedge against inflation, especially in India, where it is a major part of the cultural fabric. On December 5, 2024, the gold rate in India is experiencing fluctuations, influenced by global economic factors, the value of the rupee, and local demand. Whether you’re looking to invest or simply want to know the current gold rate, we have you covered.
Current Gold Rates in India (As of 5th December 2024)
| Gold Type | Price (Per 10 grams) | Change |
|---|---|---|
| 24 Carat Gold | ₹77,943 | -₹20 |
| 22 Carat Gold | ₹71,463 | -₹20 |
India, being the second-largest consumer of gold globally (after China), sees the price of gold being influenced by both domestic factors (such as taxes and duties) and international market trends. The import duties on gold, which are currently set at 10%, also play a significant role in shaping the final gold price in India.
Gold Price in Major Indian Cities – 5th December 2024
Gold prices can vary slightly across different cities in India due to local taxes, demand, and supply. Below is a table showing the 24K and 22K gold rates in various metro cities.
| City | 24 Carat Gold (Per 10 grams) | 22 Carat Gold (Per 10 grams) |
|---|---|---|
| Bangalore | ₹77,785 | ₹71,305 |
| Chennai | ₹77,791 | ₹71,341 |
| Delhi | ₹77,943 | ₹71,463 |
| Kolkata | ₹77,795 | ₹71,315 |
| Mumbai | ₹77,797 | ₹71,317 |
| Pune | ₹77,803 | ₹71,323 |
These prices are influenced by local factors such as the state’s taxes, transport duties, and market demand. It’s important to note that prices might change throughout the day, so it’s always advisable to check the current rates before making any purchase.
Gold Rate Trends in India: Last 15 Days
Gold rates are not static; they fluctuate frequently. Here’s a look at how the prices have changed in the past 15 days:
| Date | 22 Carat Gold Price | Change (22 Carat) | 24 Carat Gold Price | Change (24 Carat) |
|---|---|---|---|---|
| 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 | -₹1,200.00 | ₹77,403 | -₹1,310.00 |
| Nov 26, 2024 | ₹72,163 | -₹1,000.00 | ₹78,713 | -₹1,090.00 |
| Nov 25, 2024 | ₹73,163 | -₹10.00 | ₹79,803 | -₹10.00 |
| Nov 24, 2024 | ₹73,173 | +₹740.00 | ₹79,813 | +₹810.00 |
| Nov 23, 2024 | ₹72,433 | +₹800.00 | ₹79,003 | +₹870.00 |
| Nov 22, 2024 | ₹71,633 | +₹300.00 | ₹78,133 | +₹330.00 |
| Nov 21, 2024 | ₹71,333 | +₹500.00 | ₹77,803 | +₹550.00 |
This table shows the gold prices for 22 Carat and 24 Carat gold over the past 15 days, with their respective changes.
Factors Influencing Gold Rates in India
- Global Economic Trends: Gold prices are significantly impacted by global market conditions. Economic uncertainty, political instability, and fluctuations in the stock market can push investors to seek safety in gold.
- Exchange Rates: Gold prices are often inversely related to the strength of the rupee against the US dollar. A weaker rupee means higher import costs, leading to a rise in gold prices.
- Interest Rates: Higher interest rates often reduce the appeal of gold, as it does not offer any yield. Conversely, low interest rates make gold more attractive.
- Import Duty and Taxes: India imposes a 10% import duty on gold, which affects domestic prices. Any change in import duty can directly impact the price of gold in the country.
Understanding Gold Types: 22K vs. 24K Gold
Gold is classified into different karats (K), with the two most common being 22K and 24K:
- 24 Carat Gold: This is the purest form of gold with 99.99% purity. It is ideal for investment but too soft to be used in jewellery without mixing with other metals.
- 22 Carat Gold: Contains 91.67% gold and is typically used for making jewellery. It is more durable than 24K gold and is widely preferred for jewellery in India.
Gold Rates in Different States In India
Here are the gold rates in different cities in India, in table format:
| City Name | 22 Carat Price (₹/10 Grams) | 24 Carat Price (₹/10 Grams) |
|---|---|---|
| Ahmedabad | ₹71,371 | ₹77,851 |
| Amritsar | ₹71,490 | ₹77,970 |
| Bangalore | ₹71,305 | ₹77,785 |
| Bhopal | ₹71,374 | ₹77,854 |
| Bhubaneswar | ₹71,310 | ₹77,790 |
| Chandigarh | ₹71,472 | ₹77,952 |
| Chennai | ₹71,341 | ₹77,791 |
| Coimbatore | ₹71,360 | ₹77,810 |
| Delhi | ₹71,463 | ₹77,943 |
| Faridabad | ₹71,495 | ₹77,975 |
| Gurgaon | ₹71,488 | ₹77,968 |
| Hyderabad | ₹71,319 | ₹77,799 |
| Jaipur | ₹71,456 | ₹77,936 |
| Kanpur | ₹71,483 | ₹77,963 |
| Kerala | ₹71,335 | ₹77,815 |
| Kochi | ₹71,336 | ₹77,816 |
| Kolkata | ₹71,315 | ₹77,795 |
| Lucknow | ₹71,479 | ₹77,959 |
| Madurai | ₹71,337 | ₹77,787 |
| Mangalore | ₹71,318 | ₹77,798 |
| Meerut | ₹71,489 | ₹77,969 |
| Mumbai | ₹71,317 | ₹77,797 |
| Mysore | ₹71,304 | ₹77,784 |
| Nagpur | ₹71,331 | ₹77,811 |
| Nashik | ₹71,367 | ₹77,847 |
| Patna | ₹71,359 | ₹77,819 |
| Pune | ₹71,323 | ₹77,803 |
| Surat | ₹71,378 | ₹77,858 |
| Vadodara | ₹71,384 | ₹77,864 |
| Vijayawada | ₹71,325 | ₹77,805 |
| Visakhapatnam | ₹71,327 | ₹77,807 |
How to Buy Gold in India
Gold can be purchased in various forms:
- Jewellery: The most common form of buying gold, especially for personal use or gifting.
- Gold Coins & Bars: Ideal for investment purposes.
- Gold ETFs (Exchange-Traded Funds): A convenient way to invest in gold without physically holding it.
- Sovereign Gold Bonds: A government-backed investment option offering interest along with gold appreciation.
Gold Hallmarking in India
In India, gold is officially marked by the Bureau of Indian Standards (BIS) to assure the buyer of its purity. This process is called hallmarking, and it ensures that the gold meets the set standards of quality. When buying gold, look for the hallmark symbol to avoid adulteration.
Conclusion
Gold continues to be a safe investment choice for many Indians, offering protection against inflation and economic uncertainties. With the fluctuations in gold prices, it’s essential to stay informed. Whether you are looking to invest or buy gold for personal use, understanding the gold rate trends and factors affecting them will help you make better decisions.
For the latest updates on gold prices in India, remember to check the rates regularly as they can change due to various economic and global factors.