Gold price today: Despite the uncertainties made on tariffs in the international market, gold has fallen by more than Rs 1800 in a week amid the steady prices of crude oil. In the last seven days, 24 carat gold has been cheaper by Rs 1,860, while the price of 22 carat gold has also been seen to be reduced by Rs 1,700.
Today, on an average of 24 carat gold at Rs 1,01,180 per 10 grams and 22 carat gold at Rs 92,750 per 10 grams across the country.
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Fresh sense of your city:
At the same time, prices in the bullion market of the national capital Delhi are slightly higher than this. Here 24 carat gold is being sold at the rate of Rs 1,01,330 per 10 grams and 22 carat gold at the rate of Rs 92,900 per 10 grams.
Along with this, 24 carat gold in other metropolis like Kolkata, Mumbai and Chennai, where Rs 1,01,180, 22 carat gold is trading at Rs 92,750 per 10 grams. Whereas in Lucknow, Chandigarh and Jaipur, 24 carat gold is being sold at the rate of Rs 1,01,330 and 22 carat gold at the rate of Rs 92,900.
How is the rate fixed?
Gold and silver prices are fixed daily based on many global and local factors. The prices of these metals are determined in the US dollars in the international market, so the dollar-rupaya exchange rate has a direct impact on them. When the dollar is strong or the rupee weakens, gold and silver become expensive in India. Apart from this, India is one of the largest importing countries of gold, so the impact of import duty, GST and local taxes also reaches the consumer directly.
Global economic and political conditions also affect gold and silver prices. For example, in situations such as war, recession, inflation or change in interest rates, investors consider gold as a safe option, which increases its prices. At the same time, when the circumstances remain stable, the prices may decrease. Demand and supply also have a big impact in countries like India. There is a huge demand for gold on weddings, festivals and auspicious occasions, due to which prices go up.
From the point of view of inflation and investment, gold is considered a safe and better return tool. When inflation increases or the risk in stock market and other assets is high, people prefer to invest in gold. In addition, when central banks from different countries add gold to their reserves, demand increases globally and prices go up. In this way, it can be said that gold and silver prices depend on the dollar fluctuations, tax, import duty, global conditions, local demand and investor behavior-all.
Also read: Multibagger Stocks: This shares that run away like gold prices, sometimes the price was less than 10 rupees
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