As of December 11, 2024, gold prices in India continued to stay at elevated levels. The cost of 24-carat gold, known for its high purity, was Rs 78,610 per 10 grams, making it a preferred choice for investors. Meanwhile, 22-carat gold, which is valued for its strength and is commonly used in jewelry, was priced at Rs 72,060 per 10 grams, remaining a popular option for jewelry buyers.
In major cities across India, the prices for 22-carat gold ranged from Rs 72,060 to Rs 72,210 per 10 grams, while 24-carat gold was priced between Rs 78,610 and Rs 78,760 per 10 grams. Notably, cities like Delhi, Lucknow, and Jaipur saw 22-carat gold priced at Rs 72,210 per 10 grams, while Mumbai, Chennai, and Pune had it priced at Rs 72,060 per 10 grams. In terms of 24-carat gold, prices varied slightly, with Delhi, Lucknow, and Jaipur seeing it priced at Rs 78,760 per 10 grams, while Mumbai, Chennai, and Pune had it priced at Rs 78,610 per 10 grams.
What Determines the Retail Price of Gold?
The retail price of gold per gram reflects the amount consumers pay for gold, which is quoted in Indian Rupees. This price fluctuates daily and is influenced by global economic trends, geopolitical events, and supply-demand conditions. Factors such as international market rates, import duties, taxes, and currency exchange fluctuations play a significant role in shaping the price of gold in India.
Gold holds substantial cultural and financial significance in India. It is not only a favored investment but also plays a crucial role in various celebrations, especially weddings and festivals. As the gold market continues to evolve, investors and consumers alike keep a close watch on these trends, which are critical for navigating shifting market conditions.
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