Gold and Silver Price Today: Insights into the Current Rates of Precious Metals. 19th Jan 2024
Gold prices have been a benchmark for measuring inflation over the past several years. Investors consider gold as a crucial investment, and Good Returns (OneIndia Money) provides you with the latest updates on gold prices in India. Our aim is to keep you informed. On this page, we publish gold prices based on data obtained from gold traders across the country.
Today in India, the price of 22-carat gold is ₹5,785 per gram, while 24-carat gold is priced at ₹6,310 per gram.
Check the purity of gold according to carats –
- 24 carats = 100% pure gold (99.9%)
- 22 carats = 91.7% gold
- 18 carats = 75.0% gold
- 14 carats = 58.3% gold
- 12 carats = 50.0% gold
- 10 carats = 41.7% gold
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Why do gold prices fluctuate in India? Gold prices are influenced by various factors, including international purchases made by central banks worldwide. Often, central banks do not have sufficient reserves, leading to volatility in gold prices. When demand exceeds the expected supply, central banks adjust gold prices accordingly. This scenario has been observed multiple times, causing significant increases in gold prices.
Additionally, gold prices are impacted by the role of Gold Exchange Traded Funds (ETFs) in the country. Purchases of gold ETFs can influence international market prices, ultimately affecting gold prices in cities like Chennai.
External factors such as currency hedging and the impact of valuable metals also play a role. For example, a rapid rise in the dollar can lead to a decrease in gold prices.
Stay updated on gold prices and understand the dynamics that contribute to these changes in the market.