Today Gold Price in India: A Wise Investment Choice Investing in gold (सोने) is widely regarded as a secure and smart option in India. That’s why a significant number of individuals choose to invest their money in gold. However, before you venture into any investment, it’s crucial to gather comprehensive information.
In this post, you’ll discover the current gold prices in India, specifically in the major cities. This knowledge will empower you to make informed decisions if you’re considering investing in gold.
Investment in Gold: The Basics
Gold is available in various karats, including 18, 22, and 24 karats in India. 22 karat gold is approximately 91% pure, with the remaining 9% consisting of copper and zinc. In contrast, 24-karat gold boasts 99.9% purity but tends to be pricier.
Gold Price Today
Today’s Price for 18 Karat Gold
On October 16, 2023, in New Delhi, India, the price for 18 karat gold is ₹44,475 per 10 grams.
- 1 gram: ₹4,447
- 10 grams: ₹44,475
- 100 grams: ₹4,44,700
Today’s Price for 22 Karat Gold
On October 16, 2023, in New Delhi, India, the price for 22 karat gold is ₹55,100 per 10 grams.
- 1 gram: ₹5,510
- 10 grams: ₹55,100
- 100 grams: ₹5,51,000
Today’s Price for 24 Karat Gold
In New Delhi, India, on October 16, 2023, the price for 24 karat gold is ₹60,110 per 10 grams.
- 1 gram: ₹6,011
- 10 grams: ₹60,110
- 100 grams: ₹6,01,100
Gold Prices in Your City
Here’s the current gold pricing for 24 and 22-karat gold in India’s major cities:
|City||22 Karat Gold (10 grams)||24 Karat Gold (10 grams)|
Gold Prices in Other Countries
The demand for gold extends beyond India, and gold prices vary worldwide. Here are the current gold prices in other countries for 22 and 24 karat gold (10 grams):
|Country||22 Karat Gold (10 grams)||24 Karat Gold (10 grams)|
Factors Influencing Gold Prices
Gold prices are subject to constant fluctuations due to various factors, such as:
- Inflation: When inflation rises, the value of a country’s currency falls, prompting people to invest in gold, leading to higher gold prices.
- Interest Rates: Higher interest rates encourage people to sell gold and deposit their money in banks, which can lower gold prices.
- Reserve Holdings: A country’s government reserves, which often include gold, can impact its supply and demand dynamics and subsequently influence gold prices.
How to Buy Gold
In the modern era, buying gold is convenient. You can purchase physical gold from local jewelers or explore digital gold investment platforms like Zerodha and Groww for seamless transactions. When buying physical gold, always request a gold certificate to ensure authenticity.
In conclusion, gold is a valuable asset and a wise investment option. Stay informed about the ever-changing gold prices to make sound investment decisions. Whether you choose physical gold or digital platforms, gold remains a trusted choice for investors in India and around the world.