As of December 12, 2024, gold prices in India remain high, with the cost of 24-carat gold, known for its superior purity, priced at Rs 79,470 per 10 grams. This makes 24-carat gold a popular choice for investors. Meanwhile, 22-carat gold, valued for its strength and commonly used in jewellery, is priced at Rs 72,850 per 10 grams, maintaining its appeal among jewellery buyers.
Gold prices in various cities across India on December 12, 2024, show slight variations. In Delhi, 22-carat gold is priced at Rs 73,000, while 24-carat gold is available for Rs 79,620. In Mumbai, the price of 22-carat gold stands at Rs 72,850, with 24-carat gold at Rs 79,470. Cities like Lucknow and Jaipur report the highest prices, with 22-carat gold priced at Rs 73,010 and 24-carat gold at Rs 79,630. Prices in cities such as Ahmedabad, Chennai, Kolkata, and Pune are similar, with 22-carat gold priced around Rs 72,850 and 24-carat gold hovering around Rs 79,470.
Retail Gold Price: Factors Behind the Fluctuations
The retail price of gold per gram, which reflects the price consumers pay for gold, is influenced by several global and local factors. International market conditions, including changes in global supply and demand, economic shifts, and geopolitical tensions, have a direct impact on gold prices. Additionally, import duties, taxes, and fluctuations in the Indian rupee exchange rate further contribute to the price variations observed across different regions of India.
Cultural and Financial Significance of Gold
In India, gold is more than just a financial asset; it holds deep cultural value, especially during weddings, festivals, and other celebrations. Gold is seen not only as a store of wealth but also as a symbol of prosperity and security. As such, the price of gold is closely monitored by both investors and consumers alike.
With these ongoing shifts in gold prices, staying informed is essential for navigating the evolving market landscape and making informed investment decisions.
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