Gold Price Today in India: Latest Rates and Market Trends (October 1, 2024)
As of October 1, 2024, gold prices in India have shown some fluctuations, reflecting the ongoing dynamics of the global market. Here’s a detailed overview of the current gold rates, market trends, and factors influencing these prices.
Current Gold Rates
- 24 Carat Gold: ₹74,500 per 10 grams
- 22 Carat Gold: ₹68,300 per 10 grams
Price Changes
- 24 Carat Gold: The price has seen a decrease of ₹10 compared to the previous day.
- 22 Carat Gold: Similarly, this has also decreased by ₹10.
Regional Prices
Gold prices can vary slightly based on location. Here are the rates in major cities:
| City | 22 Carat (₹/10g) | 24 Carat (₹/10g) |
|---|---|---|
| Delhi | ₹68,250 | ₹74,450 |
| Mumbai | ₹68,300 | ₹74,500 |
| Chennai | ₹68,400 | ₹74,600 |
| Kolkata | ₹68,415 | ₹74,563 |
| Bangalore | ₹68,400 | ₹74,600 |
Market Trends
The gold market has been influenced by various factors recently:
- Global Economic Conditions: Fluctuations in global demand for gold and changes in currency values have a significant impact on local gold prices. The strength of the US dollar often inversely affects gold prices in India.
- Interest Rates: With rising interest rates globally, investors may shift their focus away from non-yielding assets like gold, affecting demand and pricing.
- Seasonal Demand: The demand for gold typically increases during festive seasons and wedding periods in India. This seasonal demand can lead to price surges.
- Geopolitical Factors: Uncertainties such as geopolitical tensions or economic instability can drive investors towards safe-haven assets like gold.
Historical Context
Over the past month, gold prices have experienced a slight decline:
- The price of 24-carat gold has changed by approximately -1.67% over the last week and about -4.81% over the past month.
Conclusion
As of today, October 1, 2024, gold remains a popular investment choice in India despite recent fluctuations in pricing. Investors should stay informed about global economic conditions and local market trends when considering their purchases. Whether for investment or personal use, understanding these dynamics can help make more informed decisions regarding gold investments.Stay tuned for further updates as the market continues to evolve!