Introduction: Welcome to today’s update on the gold price in India. Gold is a preferred investment option by various factors such as global economic conditions, currency exchange rates, and local demand. This post will provide the latest gold rates in India, and a comparison of prices over the last week, and how gold prices are looking globally in select countries.
Gold
Price Overview (Today):
As of December 14, 2024, the
gold price in India has shown no change compared to the previous day.
|
24K
Gold (Per Gram) |
22K
Gold (Per Gram) |
|
₹7,789 (-98) |
₹7,140 (-90) |
 |
| Latest gold prices across major cities in India, including a comparison of 24K and 22K gold rates, updated as of December 14, 2024 |
Gold
Price in Major Indian Cities:
|
City |
24K
Gold Price (per gram) |
22K
Gold Price (per gram) |
|
Mumbai |
₹7,789 |
₹7,140 |
|
Delhi |
₹7,804 |
₹7,155 |
|
Chennai |
₹7,789 |
₹7,140 |
|
Kolkata |
₹7,789 |
₹7,140 |
|
Bangalore |
₹7,789 |
₹7,140 |
Note: Prices may vary based on local
taxes, jewelry shop premiums, and market conditions.
1-Week
Gold Price Comparison in India:
|
Date |
24K
Gold Price (per gram) |
22K
Gold Price (per gram) |
|
Today |
₹7,789
(-98) |
₹7,140
(-90) |
|
December 13,2024 |
₹7,887
(-60) |
₹7,230
(-55) |
|
December 12,2024 |
₹7,947
(0) |
₹7,285
(0) |
|
December 11, 2024 |
₹7,947
(+87) |
₹7,285
(+80) |
|
December 10, 2024 |
₹7,860
(+82) |
₹7,205
(+75) |
|
December 9, 2024 |
₹7,778
(+16) |
₹7,130
(+15) |
|
December 8, 2024 |
₹7,762
(0) |
₹7,115
(0) |
This table gives you a quick look at
how the gold prices have fluctuated over the past week in India, helping you
track trends and make informed decisions.
Gold
Prices in Select Foreign Countries (Today):
|
Country |
24K
Gold Price (per gram) |
22K
Gold Price (per gram) |
|
United States |
$83 |
$
78 |
|
Malaysia |
MYR
378 |
MYR
363 |
|
Qatar |
QAR
322.50 |
QAR
302 |
|
Dubai |
AED
323 |
AED
299 |
|
Saudi Arabia |
SAR
328 |
SAR
304 |
Note: Foreign gold prices based on
the exchange rate and international market trends.
Why
is Gold Price Fluctuating?
Gold prices fluctuate daily due to a
variety of factors, including:
- Global Economic Conditions: International markets, inflation rates, and economic
indicators influence gold prices worldwide.
- Rupee-Dollar Exchange Rate: The strength of the Indian Rupee against the U.S.
Dollar plays a critical role in the domestic gold price.
- Global Demand:
Increasing demand during festive seasons or geopolitical events can drive
prices higher.
Gold is available in different
purity levels, with 24K gold and 22K gold being the most common
types used for jewelry and investment. Here’s a quick comparison to help you
understand the key differences:
|
Feature |
24K
Gold |
22K
Gold |
|
Purity |
99.9% pure gold |
91.6% pure gold |
|
Gold Content |
24 parts out of 24 are pure gold |
22 parts out of 24 are pure gold,
2 parts other metals (typically copper or silver) |
|
Color |
Bright yellow, more vibrant and
shiny |
Slightly less shiny, has a lighter
yellow tone |
|
Durability |
Softer, more prone to scratching
and bending |
Harder, more durable due to the
presence of alloy metals |
|
Price |
Higher price due to purity |
Lower price than 24K due to lower
gold content |
|
Best For |
Investment, gold bars, coins, and
collectors |
Jewelry, especially for everyday
wear and more intricate designs |
|
Malleability |
More malleable and flexible, easy
to shape |
Less malleable, more suitable for
detailed jewelry designs |
|
Uses |
Primarily used in gold bars,
coins, and investment items |
Used in rings, bracelets,
earrings, necklaces, and other fine jewelry |
|
Alloy Content |
No alloy metals, 100% pure gold |
Contains alloy metals like copper
or silver, which make it stronger |
|
Longevity |
Can wear down over time due to
softness |
More durable, better for long-term
use and daily wear |
Key
Differences at a Glance:
- Purity & Price:
24K gold is the purest form of gold, which makes it more expensive than
22K gold. However, it is less durable and more susceptible to damage.
- Durability & Use:
22K gold is ideal for jewelry because the presence of alloy metals makes
it stronger and more resistant to wear. 24K gold, being soft, is usually
not preferred for making jewelry pieces that will be worn daily.
- Investment:
24K gold is the best choice for investment as it is 99.9% pure. 22K gold
is commonly used for making jewelry but can also be a good option for
investment, though its gold content is lower.
Which
One Should You Choose?
- If you're looking to invest in gold or want a pure
gold product, 24K gold is the right choice.
- If you're buying jewelry that will be worn
frequently or want a balance between durability and purity, 22K
gold is the better option.
Both types of gold have their own
advantages depending on your needs—whether you prioritize purity, durability,
or price.
Conclusion:
Gold prices are continuously
changing based on multiple global and domestic factors. It's important to stay
updated with daily and weekly trends before making any buying or selling
decisions. Whether you're investing in gold as a commodity or purchasing it for
personal use, knowing the right time to buy is key.
Stay tuned for tomorrow's update on
the latest gold prices. If you have any feel free to leave a comment or reach
out to us directly.
For additional
details and updates on gold prices, visit:
Goodreturns
Gold Rates
Disclaimer:
Gold prices are indicative and may vary based on city, taxes, premiums, and
local market conditions. Always verify the price before purchasing.