Also Read: Budget 2024 & Financial Inclusion: Will Gold Loans Come Under Priority Sector Lending?
Gold fee right now in India: Retail gold value on January 24
Gold Rate Today In Delhi
In Delhi, folks must spend Rs 57,900 for 10 grams of twenty-two-carat gold and Rs 63,150 for a similar quantity of 24-carat gold.
Gold Rate Today In Mumbai
In Mumbai, the current value for 10 grams of twenty-two-carat gold is Rs 57,750, whereas an equal amount of 24-carat gold is valued at Rs 63,000.
Gold Rate Today In ChennaiÂ
In Chennai, the worth for 10 grams of twenty-two-carat gold is Rs 58,350, and for a similar quantity of 24-carat gold, it’s Rs 63,650.
Check gold charges right now in numerous cities on January 24, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Ahmedabad | 57,800 | 63,050 |
| Kolkata | 57,750 | 63,000 |
| Gurugram | 57,900 | 63,150 |
| Lucknow | 57,900 | 63,150 |
| Bengaluru | 57,750 | 63,000 |
| Jaipur | 57,900 | 63,150 |
| Patna | 57,800 | 63,050 |
| Bhubaneshwar | 57,750 | 63,000 |
| Hyderabad | 57,750 | 63,000 |
Multi Commodity Exchange
As of January 24, 2024, gold futures set to run out on February 05 had been being traded at Rs 61,960 on the Multi Commodity Exchange. Additionally, silver futures with an expiration date of March 05, 2024, had been buying and selling at Rs 70,901.
The retail value of gold within the nation is the quantity prospects pay for it. This value is influenced by varied components, together with the worldwide gold value, the worth of the Rupee, and the prices related to labour and supplies used within the manufacturing of gold jewelry.
Gold is extremely vital in India due to its cultural significance, its worth for funding, and its conventional function in weddings and festivals.
Here are a number of components that may exert affect on the worth of gold:
Market Forces and Gold Valuation: The valuation of gold is predominantly influenced by the dynamics of provide and demand. If there’s a surge in public curiosity for gold, its value tends to rise. Conversely, an extra provide of gold available in the market can result in a decline in its value.
Global Economic Dynamics: The broader state of the worldwide economic system performs a big function in figuring out gold costs. During intervals of financial downturn or recession, traders usually flip to gold as a safe funding, inflicting an uptick in its worth.
Impact of Political Uncertainty: Political instability also can exert appreciable affect on gold costs. Instances of uncertainty or crises in pivotal international locations or areas might drive traders to safeguard their belongings by investing in gold, thereby creating heightened demand and inflicting a rise within the value of gold.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
The All India Gem and Jewellery Domestic Council (GJC) just lately acknowledged that the prevailing world financial uncertainties and geopolitical tensions are anticipated to propel gold costs to a document excessive of Rs 70,000 per 10 grams this 12 months. This improvement positions gold as a safe funding and an efficient hedge towards inflation.
