On November 27, 2024, gold prices in India remained stable, with 24-carat gold priced at Rs 77,230 per 10 grams, while 22-carat gold stood at Rs 70,790 per 10 grams. Despite fluctuations in the global market, gold continues to serve as a reliable investment in India, maintaining its significance both financially and culturally.
24-carat gold, known for its higher purity, was priced higher than 22-carat gold, which is preferred for jewelry due to its durability from alloying. Gold’s status in India remains strong, particularly in the context of weddings and festivals, where it holds cultural and ceremonial value.
Gold Prices in Major Indian Cities
Gold prices across various cities in India on November 27, 2024, were as follows:
Delhi: 22-carat gold: Rs 70,940; 24-carat gold: Rs 77,380
Mumbai: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Ahmedabad: 22-carat gold: Rs 70,840; 24-carat gold: Rs 77,280
Chennai: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Kolkata: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Pune: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Lucknow: 22-carat gold: Rs 70,940; 24-carat gold: Rs 77,380
Bengaluru: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Jaipur: 22-carat gold: Rs 70,940; 24-carat gold: Rs 77,380
Patna: 22-carat gold: Rs 70,840; 24-carat gold: Rs 77,280
Bhubaneshwar: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Hyderabad: 22-carat gold: Rs 70,790; 24-carat gold: Rs 77,230
Factors Behind Fluctuations in Gold Prices
Gold prices are influenced by various global and local factors, including international economic conditions, geopolitical developments, and supply-demand dynamics. Additionally, domestic factors such as import duties, taxes, and currency exchange rates contribute to fluctuations in the retail price of gold.
In India, gold is not only seen as an investment asset but also as a symbol of wealth and tradition, often associated with weddings and other significant cultural occasions. Given its importance, understanding the factors driving gold price changes is crucial for consumers and investors alike, ensuring they can make informed decisions in a dynamic market.
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