Latest glod price information according to VIP Box TV, Gold is one of the most precious metals on earth. India, previously known as “The Golden Bird,” produces tonnes of gold, which holds a large share of the country’s economy. For many centuries, Gold is considered a significant commodity of Indian culture and economy. For Indians, gold is not just a precious metal but a sign of prosperity and a great aspect of immovable property.
Over the years, investment in gold has become a household practice and is proving to be a great investment. Return on gold investments varies from time to time according to market price. Gold prices fluctuate daily according to economic conditions, inflation, and currency movements.
Let’s see what’s the gold price today and evaluate its consequences on the economy and investment.
Reports on Gold Price Today
As per the recent data and reports on the gold price today, the price for 22-karat gold is valued at ₹6,937.3 and 24-carat gold is priced at ₹7,568. The gold price in India today is ₹ 75,680 per 10 grams for 24 Carat and ₹69,373 for 22 Carat.
Today 22 Carat Gold Price/gm in India (INR)
| GM | Today’s Price | Yesterday’s Price | Price Change |
| 1 | ₹6,937.3 | ₹6,965.8 | -₹28.5 |
| 10 | ₹69,373 | ₹69,658 | -₹285 |
| 100 | ₹6,93,730 | ₹6,96,580 | -₹2,850 |
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Today 24 Carat Gold Price/gm in India (INR)
| GM | Today’s Price | Yesterday’s Price | Price Change |
| 1 | ₹7,568 | ₹7,599 | -₹31 |
| 10 | ₹75,680 | ₹75,990 | -₹310 |
| 100 | ₹7,56,800 | ₹7,59,900 | -₹3,100 |
Major Cities Gold Rate Today (10 GM)
The gold price throughout India is almost the same with small differences in the price. The current gold price chart has seen a slight depreciation that fosters opportunity for those who want to invest in gold.
| City | 22 Carat | 24 Carat |
| Ahmedabad | ₹69,465 | ₹75,780 |
| Bangalore | ₹69,428 | ₹75,740 |
| Chennai | ₹69,575 | ₹75,900 |
| Delhi | ₹69,254 | ₹75,550 |
| Kolkata | ₹69,282 | ₹75,580 |
| Lucknow | ₹69,392 | ₹75,700 |
| Patna | ₹69,337 | ₹75,640 |
| Pune | ₹69,373 | ₹75,680 |
| Varanasi | ₹69,410 | ₹75,720 |
| Mysore | ₹69,428 | ₹75,740 |
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Standard Unit for Gold Rates in India
The majority of individuals wishing to invest in gold seek “the gold price today” or “current gold price”. However, the requirement for gold price varies. For example, people search for the price per gram, the price per ten grams, the 24-carat gold price, the 22-carat gold price, and so on. Because jewelers in India usually use 22-carat and 18-carat gold for jewelry making, these values are more looked for.
In India, the price of gold is commonly expressed as a “tola,” a phrase used informally to denote the cost of each 10 grams of gold. India’s gold prices have reached all-time highs in 2024, and organized jewelry sellers’ earnings are predicted to rise by 22 to 25 percent. Gold prices are expected to rise, mostly due to the central government’s reduction of the import fee on gold.
Factors Affecting Gold Prices In India
The gold price is determined by several factors including currency, global economic situations, interest rates on banks’ fixed deposits, government policies, and demand-supply, among others.
- Currency: India imports most of its gold requirements, and hence the gold rate is determined by the exchange rate of Indian rupees and US dollars. Therefore, gold prices are likely to rise if the Indian rupee depreciates over the US dollar.
- Global economic and political situations: Global events and political tensions also impact the price of gold. For instance, during the COVID-19 pandemic, surge in demand for gold for safe investment purposes, and rising gold prices in India.
- Bank’s interest rates: High interest rates in India often result in lower gold prices because people have additional investment options, such as equities, real estate, and government initiatives. Lower interest rates, on the other hand, frequently lead to greater gold prices as it is a risk-free investment.
- Government Policies: Gold price also depends on government policies like changes in import duties, restrictions on gold imports or exports, and taxes. Gold is effective in preventing inflation, thus, changes in policies related to inflation and fluctuating gold rates.
- Demand-supply: Gold price heavily depends on the demand-supply chain. More demand leads to a shortage in supply which results in a price rise, and vice-versa.
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Popular Ways to Invest in Gold
Purchasing gold can be done in a variety of ways, including:
- Buying jewelry: The simplest and oldest way to invest in gold. Gifting gold ornaments and jewelry is a popular way in Indian tradition. Also considered a safe way to gold investment.
- Gold exchange-traded funds: Cases of theft and frauds are surfing daily in the news, hence one can invest in exchange-traded funds (ETFs).
- Gold bars or gold coins: Certain banks and jewelers offer gold coins and bars for purchase as an investment. However, due to safety concerns, is not always advisable.
- Gold mutual funds: Gold mutual funds and gold ETFs function similarly. Your risk is further reduced by using a gold mutual fund, which is made up of a portfolio of gold exchange-traded funds (ETFs).
- Sovereign gold bonds: The government of India (GOI)had issued Sovereign Gold Bonds. The Reserve Bank of India (RBI) issued gold certificates in the form of these kept in bank storage. Thus, giving you ownership of the gold on paper and is seen as a safer alternative to actual gold delivery.
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Conclusion
The price of Gold depends on several factors that lead to a decrease or increase in price. It seems that daily price changes by a small value, but for those investing a large sum in gold, even a slight change in gold price matters. The gold rate varies from city to city due to differences in taxation, demand, transportation charges, and influence of gold associations. Hence the gold price today in Delhi could be much less than the gold price in Kolkata.
FAQs
1) What is 24-carat gold price in India?
The gold rate in India today is ₹ 75,680 per 10 grams for 24 carats.
2) What is 1 gram gold rate today?
1 gm gold rate for 24 carat gold is ₹7,568 and for 22 carat gold is ₹6,937.3.
3) What are the factors that influence gold prices in India?
The gold price is dependent on several factors including currency, global economic situations, interest rates on banks’ fixed deposits, government policies, and demand-supply.
4) What are the popular ways to invest in gold?
To invest in gold, one can buy gold jewelry, gold coins, and bars, Gold exchange-traded funds, Gold mutual funds, and Sovereign gold bonds.
