Gold Prices Today in India
As of September 1, 2024, gold prices in India have experienced a noticeable decline, reflecting changes in global market conditions and investor sentiment. Here’s a comprehensive overview of the current gold rates across major cities in India, along with insights into the factors influencing these fluctuations.
Current Gold Prices
On this date, the prices for gold in India are as follows:
- 24-Carat Gold: ₹73,040 per 10 grams
- 22-Carat Gold: ₹66,950 per 10 grams
City-wise Gold Rates
Here’s a breakdown of gold prices in various cities:
| City | 22-Carat Gold (per 10g) | 24-Carat Gold (per 10g) | Silver (per kg) |
|---|---|---|---|
| Mumbai | ₹66,950 | ₹73,040 | ₹87,000 |
| Delhi | ₹67,100 | ₹73,190 | ₹87,000 |
| Hyderabad | ₹66,950 | ₹73,040 | ₹92,000 |
| Chennai | ₹66,950 | ₹73,040 | ₹92,000 |
| Kolkata | ₹66,950 | ₹73,040 | ₹87,000 |
Factors Influencing Gold Prices
The recent drop in gold prices can be attributed to several key factors:
- Global Economic Conditions: The strengthening of the US dollar and rising US Treasury yields have contributed to a decrease in international gold prices, which directly impacts local markets in India.
- Market Sentiment: Investor sentiment has shifted due to new inflation data from the United States, leading to adjustments in the demand for gold as a safe-haven asset.
- Seasonal Demand: Traditionally, gold prices fluctuate during the wedding season in India, but recent trends indicate a decline, likely due to broader economic factors.
Conclusion
Gold continues to be a significant investment avenue in India, with its prices influenced by a combination of local and global factors. As of September 1, 2024, the decline in gold prices presents both challenges and opportunities for investors and buyers alike. Keeping an eye on market trends and global economic indicators will be crucial for making informed decisions regarding gold investments in the coming weeks.