Today’s Gold Rate in India: 12th December 2024
Gold continues to be one of the most sought-after assets in India, both for investment and as a symbol of prosperity. With the country being the second-largest consumer of gold globally, factors such as international market trends, currency fluctuations, and local taxes greatly influence today’s gold rate.
Below is a comprehensive look at today’s gold prices across India, alongside insights into factors that determine these rates.
Gold Rates in India Today
| Gold Type | Price (₹) | Change (₹) |
|---|---|---|
| 24 Carat Gold (10g) | ₹79,653 | +₹870 |
| 22 Carat Gold (10g) | ₹73,033 | +₹800 |
Gold has always been a symbol of wealth and financial security. For centuries, it has been used as a store of value and an investment, particularly in countries like India, where it holds cultural and economic significance. Understanding today’s gold rate is essential for those interested in purchasing gold for jewelry, investment, or other purposes. In this blog post, we provide you with the most current gold rates today in India and explore the factors that influence these rates.
Gold Price in Major Metro Cities
| City | 24 Carat (₹/10g) | 22 Carat (₹/10g) |
|---|---|---|
| Bangalore | ₹79,495 (+₹870) | ₹72,875 (+₹800) |
| Chennai | ₹79,501 (+₹870) | ₹72,881 (+₹800) |
| Delhi | ₹79,653 (+₹870) | ₹73,033 (+₹800) |
| Kolkata | ₹79,505 (+₹870) | ₹72,885 (+₹800) |
| Mumbai | ₹79,507 (+₹870) | ₹72,887 (+₹800) |
| Pune | ₹79,513 (+₹870) | ₹72,893 (+₹800) |
The price of gold fluctuates daily based on several factors, including international demand, global financial conditions, and local economic influences. While international gold prices are denominated in U.S. dollars, import duties, and local taxes in India also play a key role in determining the domestic price.
Gold Rate Across Cities
Gold Rate in Different Cities in India
| City Name | 22 Carat Price (₹) | 24 Carat Price (₹) |
|---|---|---|
| Ahmedabad | ₹72,941 | ₹79,561 |
| Amritsar | ₹73,060 | ₹79,680 |
| Bangalore | ₹72,875 | ₹79,495 |
| Bhopal | ₹72,944 | ₹79,564 |
| Bhubaneswar | ₹72,880 | ₹79,500 |
| Chandigarh | ₹73,042 | ₹79,662 |
| Chennai | ₹72,881 | ₹79,501 |
| Coimbatore | ₹72,900 | ₹79,520 |
| Delhi | ₹73,033 | ₹79,653 |
| Faridabad | ₹73,065 | ₹79,685 |
| Gurgaon | ₹73,058 | ₹79,678 |
| Hyderabad | ₹72,889 | ₹79,509 |
| Jaipur | ₹73,026 | ₹79,646 |
| Kanpur | ₹73,053 | ₹79,673 |
| Kerala | ₹72,905 | ₹79,525 |
| Kochi | ₹72,906 | ₹79,526 |
| Kolkata | ₹72,885 | ₹79,505 |
| Lucknow | ₹73,049 | ₹79,669 |
| Madurai | ₹72,877 | ₹79,497 |
| Mangalore | ₹72,888 | ₹79,508 |
| Meerut | ₹73,059 | ₹79,679 |
| Mumbai | ₹72,887 | ₹79,507 |
| Mysore | ₹72,874 | ₹79,494 |
| Nagpur | ₹72,901 | ₹79,521 |
| Nashik | ₹72,937 | ₹79,557 |
| Patna | ₹72,929 | ₹79,549 |
| Pune | ₹72,893 | ₹79,513 |
| Surat | ₹72,948 | ₹79,568 |
| Vadodara | ₹72,954 | ₹79,574 |
| Vijayawada | ₹72,895 | ₹79,515 |
| Visakhapatnam | ₹72,897 | ₹79,517 |
Gold Price Trends for the Last 07 Days
| Date | 22 Carat (₹) | 24 Carat (₹) |
|---|---|---|
| Dec 11, 2024 | ₹72,233 (+₹750) | ₹78,783 (+₹820) |
| Dec 10, 2024 | ₹71,483 (+₹170) | ₹77,963 (+₹180) |
| Dec 09, 2024 | ₹71,313 (-₹10) | ₹77,783 (-₹10) |
| Dec 08, 2024 | ₹71,323 (-₹260) | ₹77,793 (-₹280) |
| Dec 07, 2024 | ₹71,583 | ₹78,073 |
| Dec 06, 2024 | ₹71,583 (+₹120) | ₹78,073 (+₹130) |
| Dec 05, 2024 | ₹71,463 (-₹20) | ₹77,943 (-₹20) |
Key Factors Influencing Today’s Gold Rate
- Global Market Trends: International gold prices and geopolitical events directly affect gold rates in India.
- Currency Exchange Rates: A weaker rupee against the US dollar increases gold import costs.
- Import Duties: India levies a 10% import duty on gold, contributing significantly to its domestic price.
- Local Demand: Seasonal demand during weddings and festivals often leads to price fluctuations.
- Economic Indicators: Interest rates, inflation, and bond yields also play a role in determining gold prices.
Why Invest in Gold?
- Hedge Against Inflation: Gold preserves purchasing power during inflationary periods.
- Safe Haven: During economic or geopolitical crises, gold remains a stable investment.
- Diversification: Including gold in your portfolio reduces overall risk.
Forms of Gold Investment in India
- Physical Gold: Jewelry, coins, and bars.
- Digital Gold: Purchased online via trusted platforms.
- Gold ETFs: Investment instruments tied to gold prices.
- Sovereign Gold Bonds (SGBs): Government-backed bonds offering interest income.
FAQs About Gold Rates
Q: What is pure gold?
A: Pure gold (24K) contains 99.99% gold and is soft, making it unsuitable for jewelry.
Q: What is hallmarking?
A: Hallmarking certifies the purity of gold, ensuring buyers receive quality as per standards set by the Bureau of Indian Standards (BIS).
Q: How are gold prices determined?
A: Gold rates in India are influenced by global gold prices, currency exchange rates, and local demand-supply dynamics.
Investing in gold not only safeguards your wealth but also adds stability to your financial portfolio. Stay informed about today’s gold rate and make smart investment choices.
- Why is it important to know the gold rate today?
- Knowing the current price allows you to make informed buying or selling decisions based on market trends.
- How is the gold rate in India determined?
- Gold rates are influenced by global prices, currency fluctuations, import duties, and demand in local markets.
- What are the different types of gold?
- 24K gold is the purest form, while 22K gold is mixed with other metals like copper and zinc for jewelry making.
- Why should you invest in gold?
- Gold is a stable investment, often used as a hedge against inflation and economic uncertainty.
By monitoring today’s gold rate and understanding the factors that influence it, you can make smarter decisions regarding your gold investments.