Today’s Gold Rate in India – December 5, 2024: A Comprehensive Guide for Investors and Buyers
Gold has always been a cornerstone of Indian culture and economy, making it a crucial commodity in the nation’s financial landscape. Whether you’re looking to buy gold for jewelry, investment, or simply to store wealth, it’s important to stay updated with today’s gold rate. On December 5, 2024, gold prices have experienced slight fluctuations, and we are here to provide you with the latest insights to help you make informed decisions.
Gold Rates Today in India (Updated on 5th December 2024)
The gold rates in India can change based on global economic conditions, the price of the US dollar, and domestic factors like import duties and taxes. Below are the today’s gold rates for both 24 Carat and 22 Carat gold.
| Gold Type | Price (Per 10 grams) | Change |
|---|---|---|
| 24 Carat Gold | ₹77,943 | -₹20 |
| 22 Carat Gold | ₹71,463 | -₹20 |
These prices are updated daily based on various market factors. If you’re looking to invest or make a purchase today, it’s essential to keep an eye on the changing prices.
Gold Price in Major Indian Cities (5th December 2024)
Gold prices vary slightly across different cities due to state taxes, local demand, and other regional factors. Here’s a look at the gold rates today in major 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 show the fluctuations in gold costs across different cities. If you’re purchasing gold in any of these cities, be sure to factor in the small variations in the rates based on local factors.
Gold Rates in Different Cities in India
Gold is priced differently in each city due to local taxes, demand, and supply chain dynamics. Here’s an overview of today’s gold rates in several cities across India:
| City | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| 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 |
As you can see, there are slight variations in gold prices across cities due to local tax policies and market conditions. Always check the rates specific to your city to get accurate pricing.
Gold Rate Trends Over the Last 07 Days
Gold prices are dynamic and change frequently based on domestic and international factors. Here’s a look at the last 07 days’ trend for 22 Carat and 24 Carat gold prices:
| Date | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| Dec 04, 2024 | ₹71,483 | ₹77,963 |
| Dec 03, 2024 | ₹71,063 | ₹77,513 |
| Dec 02, 2024 | ₹71,663 | ₹78,163 |
| Nov 30, 2024 | ₹71,793 | ₹78,293 |
| Nov 29, 2024 | ₹71,063 | ₹77,513 |
| Nov 28, 2024 | ₹71,233 | ₹77,693 |
| Nov 27, 2024 | ₹70,963 | ₹77,403 |
As shown, today’s gold rates have seen some fluctuations, influenced by both international economic factors and domestic trends. Keeping track of these changes can help you make a more informed decision when purchasing gold.
Why Are Gold Prices Fluctuating?
Gold prices are influenced by a wide range of factors, both global and domestic. Here are some key reasons why today’s gold rates may fluctuate:
- Global Economic Conditions: Gold is often viewed as a safe haven investment during times of economic instability. When global markets are volatile, the demand for gold increases, which can drive up its price.
- Currency Exchange Rates: The price of gold is inversely related to the strength of the Indian Rupee against the US Dollar. A weakening rupee tends to increase the cost of gold in India.
- Interest Rates: When interest rates are low, investors may turn to gold as an alternative investment, increasing demand and, consequently, prices.
- Import Duties and Taxes: The Indian government imposes import duties on gold, which directly affects its price in the domestic market. Changes in these duties can cause fluctuations in today’s gold rates.
Types of Gold Available in India
India primarily deals with two types of gold:
- 24 Carat Gold: This is the purest form of gold with 99.99% purity. It is soft and often not used in jewelry, but it is an excellent investment option.
- 22 Carat Gold: This gold is mixed with other metals such as copper or zinc, making it more durable. It’s typically used for making jewelry.
Understanding these types will help you make the right choice for either investment or jewelry needs.
Investment in Gold
Gold is widely regarded as a safe investment, especially during times of economic uncertainty. If you are looking to invest in gold, there are several ways to do so:
- Physical Gold: Includes gold coins, bars, and jewelry.
- Gold ETFs: These are exchange-traded funds that allow you to invest in gold without physically holding it.
- Sovereign Gold Bonds: Issued by the government, these bonds offer both security and interest.
Conclusion
Today’s gold rate is a reflection of multiple factors that affect its pricing in India and globally. Whether you’re buying gold for jewelry, investment, or as a safeguard against inflation, it’s important to stay informed about the fluctuations in its price. By understanding the market dynamics and checking the latest gold rates regularly, you can make the best decision to suit your financial goals.
Gold is a long-standing asset class, cherished for both its aesthetic and investment value. As always, make sure to purchase gold from trusted sources, especially if you’re buying it for investment purposes, and keep an eye on today’s gold rates to make the most out of your investment.
Read: Gold Rate Today in India – December 5, 2024: A Comprehensive Guide