Gold Price Today in India in Indian Rupee (INR)

Friday, 11 October 2024, 5:10 PM

Gold ounce price in India is 252,778.60 Indian Rupee per ounce, Gold gram price is 8,127.93 Indian Rupee per gram karat 24, 7,450.60 Indian Rupee per gram karat 22, 7,111.94 Indian Rupee per gram karat 21, 6,095.95 Indian Rupee per gram karat 18.

How Gold Price is Determined in India

The price of gold in India is influenced by several key factors that determine its market value. One of the primary determinants is the international gold rates, which are dictated by global demand and supply dynamics. Since India imports most of its gold, fluctuations in international prices directly impact domestic rates.

Another major factor is the currency exchange rate, particularly the value of the Indian Rupee against the US Dollar. A weaker Rupee makes gold more expensive in local terms, leading to increased prices. Additionally, the Government’s import duty on gold affects its cost; higher duties generally lead to increased retail prices.

The demand for gold in India plays a significant role, especially during festive seasons and wedding times when gold purchases spike. The rate is also influenced by factors such as jewelry demand, investment trends, and central bank policies. Lastly, speculation and market sentiment can cause short-term fluctuations in gold prices, reflecting investor confidence and economic conditions. Overall, the gold price in India is a complex interplay of global trends and local demand factors.

Price of Gold Bullion in India in Indian Rupee

• The price of gold bullion 5 grams 24K in India: 40,639.65 Indian Rupee
• The price of gold bullion 10 grams 24K in India: 81,279.29 Indian Rupee
• The price of gold bullion 20 grams 24K in India: 162,558.58 Indian Rupee
• The price of gold bullion 50 grams 24K in India: 406,396.46 Indian Rupee
• The price of gold bullion 100 grams 24K in India: 812,792.91 Indian Rupee
• The price of gold bullion 250 grams 24K in India: 2,031,982.28 Indian Rupee
• The price of gold bullion 500 grams 24K in India: 4,063,964.56 Indian Rupee
• The price of gold bullion 1000 grams 24K in India: 8,127,929.12 Indian Rupee

Predictions for Gold Prices in India

The price of gold in India has always been influenced by various factors, including global market trends, currency fluctuations, and domestic demand. As of late 2023, analysts predict that gold prices may continue to rise due to increasing inflation and economic uncertainties worldwide. The demand for gold, particularly during festive seasons and wedding seasons in India, typically sees a spike, which could also contribute to higher prices.

Moreover, geopolitical tensions and shifts in monetary policy by central banks play a significant role in driving gold prices. With central banks around the world adopting more accommodative policies, there is a likelihood of increased investments in gold as a safe haven. Strong demand from international markets, particularly from countries like China, will also impact prices in India.

As we look towards 2024, experts suggest that gold prices could test new highs, although it’s essential to consider potential corrections in the market. Investors are advised to stay informed about global economic indicators and domestic factors influencing gold prices to make well-informed decisions. Ultimately, while there are predictions of rising prices, the market remains inherently volatile.

Gold price in India in October 2024 in Indian Rupee