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 12, 2024, the gold price in India has shown no change compared to the previous day. 24K Gold (Per Gram) | 22K Gold (Per Gram) | ₹7,887 (-60) | ₹7,230 (-55) |
Gold Price in Major Indian Cities: City | 24K Gold Price (per gram) | 22K Gold Price (per gram) | Mumbai | ₹7,887 | ₹7,230 | Delhi | ₹7,902 | ₹7,245 | Chennai | ₹7,887 | ₹7,230 | Kolkata | ₹7,887 | ₹7,230 | Bangalore | ₹7,887 | ₹7,230 |
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) | 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) | December 7, 2024 | ₹7,762 (0) | ₹7,115 (0) | December 6, 2024 | ₹7,762 (-27) | ₹7,115 (-25) | December 5, 2024 | ₹7,789 (+11) | ₹7,140 (+10) |
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 325.50 | QAR 304 | Dubai | AED 325.50 | AED 301.25 | Saudi Arabia | SAR 331 | SAR 307 |
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.
Comparison: 24K Gold vs 22K Gold 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:
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