Today’s Gold Rate in India – February 1, 2025
Gold is a cherished asset and a safe investment in India, often seen as a hedge against inflation and market volatility. The rates of gold fluctuate daily depending on several factors, including international market trends, currency values, import duties, and local demand.
Gold Prices in India (1st February 2025)
- 24 Carat Gold (10 grams): ₹84,513 (+₹1,310)
- 22 Carat Gold (10 grams): ₹77,483 (+₹1,200)
Gold rates can vary slightly across different regions and cities in India due to local taxes, transportation costs, and other factors. Let’s take a look at gold prices in some of the major cities:
Gold Prices in Major Cities in India (1st February 2025)
| City | 22 Carat (₹ per 10 gm) | 24 Carat (₹ per 10 gm) |
|---|---|---|
| Bangalore | ₹77,325 (+₹1,200) | ₹84,355 (+₹1,310) |
| Chennai | ₹77,331 (+₹1,200) | ₹84,361 (+₹1,310) |
| Delhi | ₹77,483 (+₹1,200) | ₹84,513 (+₹1,310) |
| Mumbai | ₹77,337 (+₹1,200) | ₹84,367 (+₹1,310) |
| Pune | ₹77,343 (+₹1,200) | ₹84,373 (+₹1,310) |
Gold Price Trends Over the Last 05 Days
| Date | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| 31 Jan 2025 | ₹76,283 (+₹150) | ₹83,203 (+₹170) |
| 30 Jan 2025 | ₹76,133 (+₹870) | ₹83,033 (+₹940) |
| 29 Jan 2025 | ₹75,263 (-₹300) | ₹82,093 (-₹320) |
| 28 Jan 2025 | ₹75,563 (-₹150) | ₹82,413 (-₹170) |
| 27 Jan 2025 | ₹75,713 (-₹10) | ₹82,583 (-₹10) |
Gold price fluctuations are impacted by multiple factors, including the value of the Indian Rupee against the U.S. Dollar, international demand, interest rates, and political or economic events. As gold is often seen as a safe-haven investment, its demand increases during uncertain times, driving prices upward.
Factors Affecting Gold Prices in India
- International Gold Prices: Gold is traded globally in U.S. Dollars. So, when international prices rise, the domestic prices tend to follow suit, especially if the rupee weakens against the dollar.
- Import Duties and Taxes: India imposes a 10% import duty on gold, which directly impacts the price of gold in the local market. Any changes to import duties by the government affect the price significantly.
- Geopolitical Events: Events like trade wars, economic instability, and conflicts can push people towards investing in gold, raising its demand and price.
- Currency Fluctuations: A weaker rupee makes gold more expensive, as it increases the cost of imports. This is why you might see fluctuations in gold rates depending on currency performance.
Here is the table format for the gold rates in different cities in India:
| City Name | 22 Carat Price (₹ per 10 gm) | 24 Carat Price (₹ per 10 gm) |
|---|---|---|
| Ahmedabad | ₹77,391 | ₹84,421 |
| Amritsar | ₹77,510 | ₹84,540 |
| Bangalore | ₹77,325 | ₹84,355 |
| Bhopal | ₹77,394 | ₹84,424 |
| Bhubaneswar | ₹77,330 | ₹84,360 |
| Chandigarh | ₹77,492 | ₹84,522 |
| Chennai | ₹77,331 | ₹84,361 |
| Coimbatore | ₹77,350 | ₹84,380 |
| Delhi | ₹77,483 | ₹84,513 |
| Faridabad | ₹77,515 | ₹84,545 |
| Gurgaon | ₹77,508 | ₹84,538 |
| Hyderabad | ₹77,339 | ₹84,369 |
| Jaipur | ₹77,476 | ₹84,506 |
| Kanpur | ₹77,503 | ₹84,533 |
| Kerala | ₹77,355 | ₹84,385 |
| Kochi | ₹77,356 | ₹84,386 |
| Kolkata | ₹77,335 | ₹84,365 |
| Lucknow | ₹77,499 | ₹84,529 |
| Madurai | ₹77,327 | ₹84,357 |
| Mangalore | ₹77,338 | ₹84,368 |
| Meerut | ₹77,509 | ₹84,539 |
| Mumbai | ₹77,337 | ₹84,367 |
| Mysore | ₹77,324 | ₹84,354 |
| Nagpur | ₹77,351 | ₹84,381 |
| Nashik | ₹77,387 | ₹84,417 |
| Patna | ₹77,379 | ₹84,409 |
Why Invest in Gold?
Gold is considered one of the safest investment options, especially during uncertain times. It acts as a hedge against inflation, economic downturns, and currency devaluation. Many investors consider gold as a form of wealth preservation, diversifying their portfolios in a market that can be volatile.
Forms of Investing in Gold
- Physical Gold: This includes coins, bars, and jewelry. It is widely popular for personal investment and gifting purposes.
- Gold ETFs (Exchange Traded Funds): Investors can buy gold in digital form through ETFs, allowing them to track the price of gold without physically holding it.
- Sovereign Gold Bonds: A government-backed investment option offering interest on gold investments, besides capital appreciation.
FAQs About Gold
1. What is the difference between 22K and 24K gold?
- 24K Gold is 99.99% pure and is the highest form of gold but is too soft for jewelry.
- 22K Gold consists of 91.67% gold, mixed with other metals like copper or silver, making it more durable for jewelry.
2. Why should I invest in gold?
- Gold is a time-tested hedge against inflation and economic uncertainty. It holds value even during times of financial crisis and offers portfolio diversification.
3. How are gold prices determined in India?
- Gold prices are influenced by international prices, currency exchange rates, import duties, local taxes, and demand.
4. Does India import gold?
- Yes, India is one of the largest importers of gold globally, catering primarily to the jewelry industry.
5. What is hallmarking in gold?
- Hallmarking is the process of certifying the purity of gold. In India, the Bureau of Indian Standards (BIS) oversees the hallmarking of gold to protect consumers from adulteration.
6. What does KDM gold mean?
- KDM gold refers to gold that is mixed with a small percentage of cadmium, which is used in the process of making gold jewelry. However, this type is less common today due to health and safety concerns.
7. How do I buy gold in India?
- You can buy gold through physical outlets (jewelry stores), online platforms, or through financial instruments like gold ETFs and sovereign bonds.
Conclusion
Gold remains a popular investment option in India due to its historical significance and ability to retain value during uncertain times. The gold market’s dynamic nature means prices change frequently, so keeping track of current rates and trends is crucial for investors.
For the latest updates, check gold rates regularly, and consult trusted sources to make informed decisions regarding your investments.