Today’s Gold Price in India – November 21, 2024

Gold holds a special place in Indian culture, celebrated for its role in festivals, weddings, and as a stable investment. Keeping track of daily gold rates is crucial for buyers and investors alike. Below is an update on today’s gold prices in Indian Rupees (INR).

Current Gold Rates

The price of gold in India today varies depending on the purity and city. Here’s a summary:

1. 22K Gold (per gram):
   • Mumbai: ₹7,087 (₹70,870 for 10 grams)
   • Delhi: ₹7,268 (₹72,680 for 10 grams)
   • Bangalore: ₹7,104 (₹71,040 for 10 grams)
   • Chennai: ₹7,121 (₹71,210 for 10 grams)
2. 24K Gold (per gram):
   • Mumbai: ₹7,550 (₹75,500 for 10 grams)
   • Delhi: ₹7,758 (₹77,580 for 10 grams)
   • Kolkata: ₹7,844 (₹78,440 for 10 grams)
   • Bangalore: ₹7,567 (₹75,670 for 10 grams)

These prices reflect fluctuations caused by global market trends, currency exchange rates, and local demand and taxes

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What Influences Gold Prices in India?

Several factors impact gold prices, including:

1. Global Market Trends: Gold rates are directly influenced by international markets. When global demand rises or geopolitical uncertainty increases, gold prices tend to surge.
2. Exchange Rate: The strength of the Indian Rupee against the US Dollar also plays a key role, as gold is traded globally in dollars.
3. Local Taxes and Duties: States may impose varying levels of Value Added Tax (VAT) or Goods and Services Tax (GST), leading to price differences across cities.
4. Seasonal Demand: During festivals like Diwali or Akshaya Tritiya, and during the wedding season, increased demand often drives up gold rates.

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Gold as an Investment

Gold is considered a secure investment in India due to its ability to hedge against inflation and its liquidity. Many prefer physical gold (jewelry, coins, bars), while others explore paper gold options like Gold ETFs or Sovereign Gold Bonds.

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Key Insights for Buyers

1. Track Prices Daily: Gold rates fluctuate frequently. If you’re planning to purchase, monitor rates over a few days to identify trends.
2. Verify Purity: Ensure you buy BIS Hallmarked gold, which guarantees quality.
3. City Variations: Check local rates to get the best deal as prices vary slightly across cities.

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Conclusion

As of today, gold continues to be a prized asset in India, both culturally and financially. Whether you’re looking to invest or buy for personal use, staying updated on prices ensures a smart purchase. Visit trusted jewelers or check reputed platforms for live updates.