Today Gold Price: There is a continuous decrease in the prices of gold and silver in the Indian bullion market these days. This can be a relief news for investors and jewelery buyers because in this era of inflation, this fall in gold prices can prove beneficial for them. Market experts say that this fall is the result of many international and domestic factors. In the last one week, gold prices have seen a huge fall of more than three thousand rupees.
The current situation of the bullion market shows that the demand for gold has decreased and the supply has increased. The strength of the dollar in the international market and fluctuations in the local currency are also affecting these prices. The natural decrease in the demand for gold after the festive season ends is also a major reason for this decline. The liquidity situation in the market and changes in interest rates are also affecting the prices of gold.
Information about today’s current price
Today, the price of 24 carat pure gold is fixed at Rs 97,500 per 10 grams. This is the gold which has the highest purity and is usually bought for investment purposes. The price of 22 carat gold is Rs 89,330 per 10 grams, which is mainly used for making jewellery. This price is slightly lower than the previous day and shows a continuous downward trend.
In the case of silver, the price of one kilogram of silver today is fixed at Rs 1,07,700. The price of silver has also seen a slight decline of Rs 110. Silver is a cheaper option for those who want to invest in precious metals but the high price of gold is out of their reach. Silver is also in great demand for industrial use, which helps keep its prices stable.
Gold prices in major cities
Today, the price of 22 carat gold in the country’s capital Delhi is Rs 89,440 per 10 grams and the price of 24 carat gold is Rs 97,550 per 10 grams. In the financial capital Mumbai, the price of 22 carat gold is Rs 89,290 and the price of 24 carat is Rs 97,400 per 10 grams. The slight difference in prices in these two metros is due to local tax system and transportation cost. Similar rates are also being seen in Chennai, a major city of South India.
In Kolkata, the major city of eastern India, the price of 22 carat gold is Rs 89,200 and 24 carat is Rs 97,410 per 10 grams. In Noida, Uttar Pradesh, 22 carat gold is available at Rs 89,420 and 24 carat gold is available at Rs 97,550 per 10 grams. In Jaipur, the pink city of Rajasthan, the price of 22 carat gold is Rs 89,420 and 24 carat is Rs 97,507. In the technical center Bengaluru, 22 carat gold is being sold at Rs 89,280 and 24 carat gold at Rs 97,400 per 10 grams.
pricing process
Gold and silver prices in India depend on several important factors that change daily. International gold prices, which are determined primarily in the London and New York markets, have a direct impact on Indian prices. Fluctuations in the dollar and rupee exchange rates also affect local prices. Gold prices usually fall when the dollar strengthens and rise when the dollar weakens.
Import duties and other taxes imposed by the government also have a significant impact on prices. Factors such as local demand and supply conditions, festive season, wedding season, and economic uncertainty also affect prices. The monetary policy of the central bank, inflation rate, and stock market conditions also indirectly affect gold prices. Gold is considered a safe investment in times of international geopolitical tensions.
Importance of Gold in Indian Culture
In Indian society, gold is not just an investment tool but it is an integral part of our culture and traditions. Buying gold jewellery on the occasion of marriage is considered auspicious and is a traditional practice. Buying gold on festivals like Diwali and Dhanteras is considered especially auspicious. For women, gold jewellery is not only a symbol of beauty but also a means of financial security.
Gold is an investment passed down from generations in Indian families which comes in handy in difficult times. In rural areas, gold is still considered a major means of saving. The demand for gold increases significantly during the festive and wedding season which directly impacts the prices. According to religious beliefs, gold is considered a symbol of Lakshmi and keeping it in the house is considered a sign of prosperity.
Easy way to know the price
In the era of modern technology, it has become very easy to know the daily prices of gold and silver. A special service has been started by the India Bullion and Jewelers Association under which one can know the latest prices of gold and silver immediately by giving a missed call on 8955664433. This service provides information about the prices of 24, 22, 18 and 14 carat gold. Within a few minutes of giving a missed call, information about the latest price is received through SMS.
There are also many websites available on the Internet that provide regular price updates. Reliable information is available on official websites like www.ibja.co and ibjarates.com. Mobile applications are also available that provide real-time price information. Local bullion traders also keep track of daily rates, but official rates are not released on government holidays and weekends.
Tips for investors
The current fall in gold prices can be a good opportunity for investors. However, it is necessary to carefully analyze the market situation before making any investment decision. Experts suggest that instead of buying large amounts at once, it may be better to invest through Systematic Investment Plan (SIP). This reduces the risk of price fluctuations and provides a better average price in the long run.
It is important to have a clear understanding of your financial position, risk appetite, and investment objective before investing. Gold is a long-term investment and short-term fluctuations in its prices are normal. Following the principle of diversification, gold should be made a part of your overall investment portfolio and not be completely invested in gold. The current decline may be temporary, so it is important to be patient and continuously monitor the market.
Disclaimer
The above information is provided for general information and educational purposes only. Gold and silver prices are constantly changing based on market conditions. Be sure to consult a qualified financial advisor before making any investment or purchase decision. The author and publisher do not assume responsibility for any financial losses or decisions.
