Today’s Gold Rate: 09 November 2024
Gold has always been a precious and trusted asset for investment, and it remains a popular choice for both traditional and modern investors alike. With its stable value and ability to hedge against inflation, gold is a favored investment during times of market uncertainty. Today, as we look at the gold rates in India, it’s essential to understand the factors influencing the market.
Gold prices are affected by various global and local factors, including currency exchange rates, global economic developments, interest rates, and local market conditions. In India, the prices of gold tend to fluctuate depending on the demand for jewelry, investment options, and the government’s import duties on gold. Today, we bring you the latest gold rates, so you can stay informed about the precious metal’s value.
Gold Rates Today in India – 09 November 2024
National Gold Prices:
- 24 Carat Gold (10 grams): ₹79,533 (down by ₹110)
- 22 Carat Gold (10 grams): ₹72,923 (down by ₹100)
Gold Rates in Major Metro Cities:
| City | 24 Carat Gold (10 grams) | 22 Carat Gold (10 grams) |
|---|---|---|
| Bangalore | ₹79,375 (down by ₹110) | ₹72,765 (down by ₹100) |
| Chennai | ₹79,381 (down by ₹110) | ₹72,771 (down by ₹100) |
| Delhi | ₹79,533 (down by ₹110) | ₹72,923 (down by ₹100) |
| Kolkata | ₹79,385 (down by ₹110) | ₹72,775 (down by ₹100) |
| Mumbai | ₹79,387 (down by ₹110) | ₹72,777 (down by ₹100) |
| Pune | ₹79,393 (down by ₹110) | ₹72,783 (down by ₹100) |
Gold Price in Other Cities:
| City | 24 Carat Price | 22 Carat Price |
|---|---|---|
| Ahmedabad | ₹79,441 | ₹72,831 |
| Amritsar | ₹79,560 | ₹72,950 |
| Bhopal | ₹79,444 | ₹72,834 |
| Bhubaneswar | ₹79,380 | ₹72,770 |
| Chandigarh | ₹79,542 | ₹72,932 |
| Coimbatore | ₹79,400 | ₹72,790 |
| Faridabad | ₹79,565 | ₹72,955 |
| Gurgaon | ₹79,558 | ₹72,948 |
| Hyderabad | ₹79,389 | ₹72,779 |
| Jaipur | ₹79,526 | ₹72,916 |
| Kanpur | ₹79,553 | ₹72,943 |
| Kerala | ₹79,405 | ₹72,795 |
| Kochi | ₹79,406 | ₹72,796 |
| Lucknow | ₹79,549 | ₹72,939 |
| Madurai | ₹79,377 | ₹72,767 |
| Mangalore | ₹79,388 | ₹72,778 |
| Meerut | ₹79,559 | ₹72,949 |
| Mysore | ₹79,374 | ₹72,764 |
| Nagpur | ₹79,401 | ₹72,791 |
| Nashik | ₹79,437 | ₹72,827 |
| Patna | ₹79,429 | ₹72,819 |
| Surat | ₹79,448 | ₹72,838 |
| Vadodara | ₹79,454 | ₹72,844 |
| Vijayawada | ₹79,395 | ₹72,785 |
| Visakhapatnam | ₹79,397 | ₹72,787 |
Gold Price History (Last 15 Days)
| Date | 24 Carat Price | 22 Carat Price |
|---|---|---|
| Nov 08, 2024 | ₹79,643 (up by ₹910) | ₹73,023 (up by ₹850) |
| Nov 07, 2024 | ₹78,733 (down by ₹1,790) | ₹72,173 (down by ₹1,650) |
| Nov 06, 2024 | ₹80,523 (up by ₹110) | ₹73,823 (up by ₹100) |
| Nov 05, 2024 | ₹80,413 (down by ₹160) | ₹73,723 (down by ₹100) |
| Nov 04, 2024 | ₹80,573 (no change) | ₹73,823 (no change) |
| Nov 03, 2024 | ₹80,573 (down by ₹150) | ₹73,823 (down by ₹190) |
| Nov 02, 2024 | ₹80,723 (down by ₹790) | ₹74,013 (down by ₹720) |
| Nov 01, 2024 | ₹81,513 (up by ₹170) | ₹74,733 (up by ₹150) |
| Oct 31, 2024 | ₹81,343 (up by ₹710) | ₹74,583 (up by ₹650) |
| Oct 30, 2024 | ₹80,633 (up by ₹670) | ₹73,933 (up by ₹620) |
| Oct 29, 2024 | ₹79,963 (down by ₹490) | ₹73,313 (down by ₹450) |
| Oct 28, 2024 | ₹80,453 (down by ₹10) | ₹73,763 (down by ₹10) |
| Oct 27, 2024 | ₹80,463 (up by ₹700) | ₹73,773 (up by ₹640) |
| Oct 26, 2024 | ₹79,763 (up by ₹130) | ₹73,133 (up by ₹120) |
Why Should You Keep Track of Today’s Gold Rate?
Gold remains one of the most reliable investment options in India and worldwide, acting as a hedge against inflation and currency fluctuations. Whether you’re planning to buy jewelry, invest in physical gold, or explore other gold-backed investment instruments, keeping track of today’s gold rate is crucial.
The price of gold can change frequently due to several global and local factors, so it’s essential to stay updated on the latest trends and rates. By staying informed, you can make timely decisions and secure the best deals on gold purchases.
If you’re looking for the most current and accurate gold rate in India today, make sure to visit our website regularly for real-time updates and detailed insights into the gold market.
Everything You Need to Know About Gold Investment
Gold has long been regarded as one of the most reliable and attractive investment options. Its value tends to fluctuate based on market conditions, making it a closely watched commodity in India, especially during trading hours.
In India, there are two primary types of gold traded: 24K and 22K. 24K gold is the purest form of gold, with a purity level of 99.99%. However, because it is very soft, it is not typically used for making jewelry. On the other hand, 22K gold consists of 22 parts gold and two parts of other metals like copper and zinc, making it more durable and suitable for crafting jewelry.
India is the largest importer of gold globally, primarily to meet the demands of its booming jewelry industry. The country imports approximately 800-900 tonnes of gold annually to satisfy domestic demand.
Factors Affecting Gold Prices in India
The price of gold in India is influenced by multiple factors, including exchange rates, global events, and interest rates. For example, if the Indian rupee weakens against the US dollar, gold prices tend to rise. Other international factors, such as economic growth, government policies, and fluctuations in interest rates, also play a significant role in determining gold prices.
In Indian cities, gold prices are impacted by various elements such as local demand, state taxes, octroi (local tax), and other levies. You can invest in gold in several forms, including gold bars, coins, and jewelry. Additionally, options like physical gold, gold exchange-traded funds (ETFs), and sovereign gold bonds are available for investment.
Currently, India imposes an import duty of 10% on gold, which is subject to change by the government to manage the country’s gold imports.
Gold as a Safe Investment
Gold is often viewed as a safe haven investment, especially during times of economic uncertainty or geopolitical instability. It serves as a reliable hedge against inflation, maintaining its value even when other assets fluctuate. This has made it particularly attractive to investors looking for stability.
In India, gold is officially regulated by the Bureau of Indian Standards (BIS), which certifies its purity through a process called hallmarking. Hallmarking ensures that the gold you buy meets the prescribed standards of purity, offering protection to consumers from adulterated or substandard products.
FAQ’s : Frequently Asked Questions About Gold
1. Why is gold considered a good investment?
Gold is valued for its ability to retain its worth over time, especially during periods of economic or political uncertainty. It acts as a safeguard against inflation and currency fluctuations.
2. What are the different ways to invest in gold?
Investing in gold can be done through physical gold (coins, bars, jewelry), gold ETFs, or sovereign gold bonds, among other options.
3. Does India import gold?
Yes, India is the largest importer of gold globally, mainly to meet the high demand from its jewelry industry.
4. How are gold prices determined in India?
Gold prices in India are influenced by global market conditions, exchange rates, and local factors like demand and taxes.
5. What’s the difference between 22K and 24K gold?
24K gold is pure gold with a high level of purity, whereas 22K gold is a mix of gold and other metals, making it more durable and suitable for making jewelry.
6. What is pure gold?
Pure gold, also known as 24K gold, has a purity of 99.99% and is not mixed with other metals.
7. How are gold rates set in Indian cities?
Gold prices vary by city due to factors like local demand, taxes, and transportation costs. Each city may also be influenced by regional market conditions.
8. What is hallmarking of gold?
Hallmarking is a certification process that guarantees the purity of gold, ensuring that consumers get the quality they pay for.
9. Who is responsible for hallmarking gold in India?
The Bureau of Indian Standards (BIS) is responsible for regulating and certifying gold purity in India.
10. What does KDM gold mean?
KDM refers to gold jewelry where the metal is alloyed using Cadmium (indicated by the ‘K’) in the making process. It’s a popular term in the jewelry industry for gold pieces that are soldered with cadmium. However, this method is less common now due to health and environmental concerns related to cadmium exposure.
Disclaimer
The gold rates provided in this blog post are for informational purposes only and may vary; please verify the latest prices from official sources before making any financial decisions.