Today’s Gold Rate in India: Complete Guide for December 8, 2024
Gold remains one of the most valuable and sought-after metals worldwide, with millions of people in India investing in it every day. Whether you are considering purchasing gold for personal use, jewelry, or investment purposes, knowing today’s gold rate is essential for making informed decisions. Gold prices fluctuate daily based on a variety of factors, including international gold market trends, local taxes, and currency exchange rates. In this blog, we’ll provide an update on today’s gold rate in India and discuss the reasons behind these fluctuations.
Today’s Gold Rate in India (Updated on December 8, 2024)
Here is the latest gold rate in India for 10 grams of 24K and 22K gold:
| Gold Type | Price (₹ per 10g) | Change |
|---|---|---|
| 24 Carat Gold | ₹77,793 | -₹280.00 |
| 22 Carat Gold | ₹71,323 | -₹260.00 |
The prices of gold in India are impacted by a range of factors, both global and domestic. International gold prices, which are quoted in US dollars, play a significant role, as well as domestic factors such as import duties, taxes, and the value of the Indian Rupee against the US Dollar.
Gold Price Across Major Indian Cities (December 8, 2024)
Gold prices vary across different cities in India due to regional factors. Here’s a look at today’s gold rate in key metro cities for both 24K and 22K gold:
| City | 24 Carat Gold (₹ per 10g) | 22 Carat Gold (₹ per 10g) |
|---|---|---|
| Bangalore | ₹77,635 | ₹71,165 |
| Chennai | ₹77,641 | ₹71,171 |
| Delhi | ₹77,793 | ₹71,323 |
| Kolkata | ₹77,645 | ₹71,175 |
| Mumbai | ₹77,647 | ₹71,177 |
| Pune | ₹77,653 | ₹71,183 |
Gold prices fluctuate based on demand and supply, along with other regional factors like local taxes and state levies.
Gold Rate Across Different Cities in India
In India, the gold price is also subject to regional variation. Here is a breakdown of today’s gold rate in several cities across the country:
Prices for 22 Carat Gold and 24 Carat Gold:
| City Name | 22 Carat Price (₹ per 10g) | 24 Carat Price (₹ per 10g) |
|---|---|---|
| Ahmedabad | ₹71,231 | ₹77,701 |
| Amritsar | ₹71,350 | ₹77,820 |
| Bangalore | ₹71,165 | ₹77,635 |
| Bhopal | ₹71,234 | ₹77,704 |
| Bhubaneswar | ₹71,170 | ₹77,640 |
| Chandigarh | ₹71,332 | ₹77,802 |
| Chennai | ₹71,171 | ₹77,641 |
| Coimbatore | ₹71,190 | ₹77,660 |
| Delhi | ₹71,323 | ₹77,793 |
| Faridabad | ₹71,355 | ₹77,825 |
| Gurgaon | ₹71,348 | ₹77,818 |
| Hyderabad | ₹71,179 | ₹77,649 |
| Jaipur | ₹71,316 | ₹77,786 |
| Kanpur | ₹71,343 | ₹77,813 |
| Kerala | ₹71,195 | ₹77,665 |
| Kochi | ₹71,196 | ₹77,666 |
| Kolkata | ₹71,175 | ₹77,645 |
| Lucknow | ₹71,339 | ₹77,809 |
| Madurai | ₹71,167 | ₹77,637 |
| Mangalore | ₹71,178 | ₹77,648 |
| Meerut | ₹71,349 | ₹77,819 |
| Mumbai | ₹71,177 | ₹77,647 |
| Mysore | ₹71,164 | ₹77,634 |
| Nagpur | ₹71,191 | ₹77,661 |
| Nashik | ₹71,227 | ₹77,697 |
| Patna | ₹71,219 | ₹77,689 |
| Pune | ₹71,183 | ₹77,653 |
| Surat | ₹71,238 | ₹77,708 |
| Vadodara | ₹71,244 | ₹77,714 |
| Vijayawada | ₹71,185 | ₹77,655 |
| Visakhapatnam | ₹71,187 | ₹77,657 |
The gold rates in cities like Delhi, Mumbai, and Bangalore are typically higher due to increased demand for gold in these metropolitan areas.
Factors That Affect Today’s Gold Rate in India
Several factors influence the gold rate today in India, and understanding these can help you make better investment decisions:
- International Gold Prices: Global gold prices, which are usually quoted in US dollars, impact the prices in India. When the international price of gold rises, domestic gold rates also increase.
- Currency Exchange Rates: The Indian Rupee’s value against the US Dollar has a direct influence on gold prices. A weaker rupee leads to higher gold prices in India.
- Import Duties and Taxes: The Indian government imposes import duties on gold, which increases its domestic price. Gold import duties are currently set at 10%, but this can change depending on government policies.
- Local Demand: The demand for gold in different parts of India plays a role in pricing. Festivals, wedding seasons, and jewelry demand contribute significantly to gold price fluctuations.
- Global Economic and Political Uncertainty: Economic downturns, inflation concerns, and geopolitical issues often push investors toward gold as a safe-haven investment, increasing its price.
Also Read : Gold Rates Today in India (Updated on 08 Dec, 2024)
Gold Rate for the Last 15 Days in India
Here is a table displaying the gold rates for the last 15 days:
| Date | 22 Carat Price (₹) | Change (₹) | 24 Carat Price (₹) | Change (₹) |
|---|---|---|---|---|
| Dec 07, 2024 | ₹71,583 | 0.00 | ₹78,073 | 0.00 |
| Dec 06, 2024 | ₹71,583 | +120.00 | ₹78,073 | +130.00 |
| Dec 05, 2024 | ₹71,463 | -20.00 | ₹77,943 | -20.00 |
| 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 |
This table highlights the daily fluctuations in gold prices for both 22 Carat and 24 Carat gold over the last 15 days. The values represent price changes in Indian Rupees (₹) for each date.
22K vs. 24K Gold: What’s the Difference?
When considering gold for investment or purchase, understanding the difference between 22K and 24K gold is crucial.
- 24K Gold: This is pure gold with a purity of 99.99%. While 24K gold is highly valued for its purity, it is not typically used for making jewelry due to its softness.
- 22K Gold: 22K gold contains 22 parts of pure gold and 2 parts of other metals like copper or zinc. It is more durable and is widely used for making jewelry, especially in India.
Why is Gold a Popular Investment in India?
Gold has always been considered a safe investment in India, especially during times of economic uncertainty. Here are a few reasons why:
- Hedge Against Inflation: Gold is often seen as a hedge against inflation, as its value typically rises when the cost of living increases.
- Diversification: Gold offers diversification for investors who are looking to reduce risk in their investment portfolios.
- Cultural Significance: Gold is deeply ingrained in Indian culture and is often passed down as a family heirloom. It’s also a popular choice for gifting during festivals and weddings.
- Gold Investment Options: Beyond physical gold, investors in India can also invest in gold through Sovereign Gold Bonds (SGBs), Gold ETFs, and Gold Mutual Funds, which allow easy access to gold markets without the need to store the physical metal.
FAQs About Today’s Gold Rate
- What factors influence today’s gold rate in India? The gold rate today is influenced by factors like international gold prices, the value of the Indian Rupee against the US Dollar, import duties, taxes, and local demand.
- Why should I invest in gold today? Gold is a safe investment, a hedge against inflation, and a store of value. It provides diversification and protection against economic volatility.
- What’s the difference between 22K and 24K gold? 24K gold is pure gold, while 22K gold contains 22 parts gold and 2 parts other metals, making it more durable and suitable for jewelry.
- How can I check the latest gold prices in my city? Gold prices vary by city, and you can check the latest prices on trusted financial websites or local jewellers.
Conclusion: Stay Updated on Today’s Gold Rate
Knowing today’s gold rate in India is essential for anyone looking to invest in or purchase gold. By staying informed about the latest gold prices and understanding the factors that affect them, you can make better purchasing and investment decisions. Whether you’re looking to buy jewelry or invest in physical gold or financial gold instruments, tracking the gold rate today will help you get the best value for your money.
Make sure to check for updates regularly as gold prices are constantly changing, reflecting both local and global economic conditions.