Gold Rate In India Today: What Are The Factors Affecting Prices Of Yellow Metal?

As of November 19, 2024, gold prices in India remained steady, with 24-karat gold averaging ₹75,478 per 10 grams on the Multi Commodity Exchange (MCX). In metropolitan cities like Delhi and Mumbai, rates hovered around ₹76,790 and ₹76,890, respectively. Meanwhile, Kolkata recorded the highest price at ₹77,330 per 10 grams for 24-karat gold.

Gold prices in Hyderabad are ₹69,989 for 22-carat gold and ₹76,349 for 24-carat gold per 10 grams. In Pune, the prices are slightly higher, with 22-carat gold priced at ₹70,133 and 24-carat gold at ₹76,493 per 10 grams. However, these rates can fluctuate based on several factors like local taxes, making charges, and market conditions.

Gold's resilience is attributed to increased global demand driven by economic uncertainties and geopolitical tensions. Analysts emphasise that gold continues to act as a safe haven for investors amid fluctuating currency values and inflation concerns. With festive season going on and rise in demand in India, prices are likely to remain robust, stated a commodity expert.

Gold prices today: What are the factors affecting the yellow metal?

The recent volatility in global financial markets has further reinforced gold’s status as a dependable asset. Indian consumers, particularly in states like Kerala and Gujarat, are leveraging local markets to invest in gold, buoyed by traditions and stable returns.

The outlook for the yellow metal suggests potential upward movement as wedding season demand peaks in India, adding another layer of optimism for traders and consumers alike.

In addition to actual gold, buyers may choose to purchase gold as a commodity, which is traded on a number of commodity exchanges, including the Multi Commodity Exchange (MCX), National Spot Exchange (NSEL), and National Commodity and Derivatives Exchange (NCDEX).

Why gold prices differ:

Gold prices in Delhi are often different from other cities in India due to factors like octroi charges, state taxes, and transportation costs. If you're planning to invest in gold in Delhi, it's important to check the latest gold rates. Delhi is one of the top gold-consuming cities in the country. Keep in mind that in addition to the current gold price, making charges for jewelry can increase the overall cost of gold.