Gold Rate Today In India: On December 24, 2023, gold prices went up and down in different Indian cities. The average cost for 10 grams was about Rs 63,000. Specifically, 10 grams of 24-carat gold had an average price of Rs 63,490, while the same amount of 22-carat gold was Rs 58,200. At the same time, silver kept going up and reached Rs 79,000 per kilogram.
Gold rate today in India: Retail gold price on December 24
Gold Rate Today In Mumbai
In Mumbai, the current cost for 10 grams of 22-carat gold is Rs 58,200, and the same amount of 24-carat gold is priced at Rs 63,490.
Gold Rate Today In Delhi
In Delhi, people have to spend Rs 58,350 for 10 grams of 22-carat gold and Rs 63,640 for the same amount of 24-carat gold.
Gold Rate Today In Chennai
In Chennai, the price for 10 grams of 22-carat gold is Rs 58,750, and for the same amount of 24-carat gold, it’s Rs 64,090.
Check gold rates today in different cities on December 24, 2023; (In Rs/10 grams)
Multi Commodity Exchange
On December 22, gold futures expiring on February 05, 2024, were trading at Rs 62,972 on the Multi Commodity Exchange. Silver futures expiring on March 05, 2024 were trading at Rs 75,448.
The retail price of gold is the amount it’s sold to customers in the country. This price is influenced by various factors, including the global gold price, the value of the Rupee, and the costs associated with labour and materials used in making gold jewellery.
Gold holds great significance in India due to its cultural importance, investment value, and longstanding role in weddings and festivals.
Here are several factors that can exert influence on the price of gold:
Market Forces and Gold Valuation: The valuation of gold is predominantly influenced by the dynamics of supply and demand. If there is a surge in public interest for gold, its price tends to rise. Conversely, an excess supply of gold in the market can lead to a decline in its price.
Global Economic Dynamics: The broader state of the global economy plays a significant role in determining gold prices. During periods of economic downturn or recession, investors often turn to gold as a secure investment, causing an uptick in its value.
Impact of Political Uncertainty: Political instability can also exert considerable influence on gold prices. Instances of uncertainty or crises in pivotal countries or regions may drive investors to safeguard their assets by investing in gold, thereby creating heightened demand and causing an increase in the price of gold.
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