Today Gold Price in India: Gold is becoming cheaper, know what is the price of gold in your city

Today Gold Price in India: Investing in gold is considered a reliable and secure option in India, with a significant number of people choosing to invest their money in this precious metal. However, before investing in anything, it’s essential to gather complete information. In this post, you’ll find the latest updates on today’s gold prices in India’s major cities to help you make informed decisions if you’re considering investing in gold.

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Why does knowing the right gold price matter?

Without accurate information about gold prices, you risk making costly mistakes when buying gold. Gold prices in India fluctuate daily, so it’s crucial to stay updated. When gold becomes cheaper, it brings joy to many, but it can also lead to potential losses if you’re not well-informed.

Types of Gold in India

In India, you can find 18 karat, 22 karat, and 24 karat gold. 22 karat gold is 91% pure, with the remaining 9% comprising copper and zinc. On the other hand, 24-karat gold is 99.9% pure and tends to be more expensive.

Today Gold Prices

As of October 10, 2023, in New Delhi, India, the price of 18-karat gold in New Delhi, India is ₹ 43,050 (per 10 grams).

22 Karat gold price today

Today, on October 10, the price of 22 Karat gold in New Delhi, India is ₹ 53,650 (per 10 grams).

24 Karat gold price today

The price of 24 Karat gold in New Delhi, India today on 10 October 2023 is ₹ 58,530 (per 10 grams).

Gold Prices in Major Indian Cities

Here’s the current price of 24 karat and 22 karat gold (per 10 grams) in India’s major cities:

Please note that these prices are for 10 grams of gold in either 22 Karat or 24 Karat, as indicated.

Gold Prices in Other Countries

Gold demand exists not only in India but also in several other countries. Here’s the current price of 22 karat and 24 karat gold (per 10 grams) in select countries:

Factors Affecting Gold Prices

This table provides the prices of 22 karat and 24 karat gold (per 10 grams) in different countries.

Gold prices are influenced by various factors. Demand plays a significant role, but other factors include:

1. Inflation: When inflation rises in a country, the value of its currency decreases. As a result, people turn to gold as a hedge against inflation, causing gold prices to increase.

2. Interest Rates: Higher interest rates offered by banks can attract investors away from gold and lead to a decrease in gold prices. Conversely, lower interest rates can drive up gold prices.

3. Government Reserves: A country’s government reserves also impact gold prices. Selling off gold reserves can increase supply and lower prices while maintaining or buying gold can have the opposite effect.

Conclusion

Gold is a versatile asset with prices influenced by a range of factors. It’s not only a favoured investment in India but globally as well. Whether you choose physical gold or digital gold, staying informed about gold prices is crucial for making sound investment decisions. By understanding the dynamics of gold pricing, you can navigate the market effectively and make informed choices for your financial future.

Frequently Asked Question