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Published 08:04 IST, December 23rd 2024

Gold Price Today: Check Gold Rate In Your City Today, December 23, 2024 - List

Investors are increasingly looking at gold as an important investment.

Reported by: Business Desk
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Price of gold today
Price of gold today | Image: Pixabay

Today's gold price in India is Rs.,7,069 per gram for 22 karat gold and Rs., 7,712 per gram for 24 karat gold (also called 999 gold). Gold has been a perfect hedge against inflation, especially in the Indian market. In India, gold is considered auspicious and is presented as gifts at weddings, festivals, and other ceremonies. Investors are increasingly looking at gold as an important investment.

Price Of Gold Today
 

City22K Rate Today24K Rate Today18K Rate Today
Chennai₹7,069₹7,712₹5,839
Mumbai₹7,069₹7,712₹5,784
Delhi₹7,084₹7,727₹5,796
Kolkata₹7,069₹7,712₹5,784
Bangalore₹7,069₹7,712₹5,784
Hyderabad₹7,069₹7,712₹5,784
Kerala₹7,069₹7,712₹5,784
Pune₹7,069₹7,712₹5,784
Vadodara₹7,074₹7,717₹5,788
Ahmedabad₹7,074₹7,717₹5,788

Price Of Gold Is Determined By

  • Supply and demand: The price of gold is affected by the domestic market's balance between supply and demand. 
  • Central banks: The actions of central banks, such as the Fed, ECB (European Central Bank), and PBOC (People's Bank Of China), can impact gold prices.
  • Investors: The demand from investors, such as hedge funds, banks, and ETFs, can influence prices.
  • Mining companies: The supply of gold is affected by mining activity and costs.
  • Geopolitical factors: Gold prices can increase during geopolitical turmoil because investors consider it a safe investment.
  • Local market conditions: Local conditions, such as import duties, taxes, and demand, can affect the price of gold.
  • Exchange rates: The value of the local currency against major currencies, such as the US dollar, can impact the price of gold.
  • In India, the Indian Bullion and Jewelers Association (IBJA) determines the daily gold rate.

The IBJA comprises the country's biggest gold dealers, who provide their buy and sell quotes. The IBJA then calculates the average of these quotes to determine the daily market.

Also Read: Petrol And Diesel Price Today in India: Check Fuel Rates In Major Cities on December 23, 2024

Updated 12:05 IST, December 23rd 2024