Today Gold Prices: Investing in gold is a popular and secure option in India. Before investing, it’s important to have the latest information about gold prices. This post provides daily updates on gold prices in major Indian cities. Gold prices fluctuate daily, so staying informed can help you make better investment decisions. In India, gold is available in 18 karat, 22 karat, and 24 karat options. The higher the karat, the purer the gold.
Today Gold Price: 12 November 2023
|Gold Type||Price per 10 grams (INR)|
Please note that these prices are indicative and can vary slightly depending on the city and jeweler. It’s always a good idea to check with a local jeweler or refer to reliable sources for the most up-to-date and accurate gold prices in India.
18-Carat Gold Rate
Today, in New Delhi, India, the price of 18-carat gold is ₹43,050 per 10 grams. The current 18-Carat Gold Rate in Patna, India is ₹4,296.00 per gram. This is a 0.87% increase from yesterday’s price of ₹4,258.50 per gram.
22-Carat Gold price
The 22-carat gold rate today, November 12, 2023, in India is ₹ 5,380 per gram. This rate may vary slightly depending on the city and jeweler you purchase from. 22-carat gold is the most popular type of gold in India, as it is a good balance of purity and durability. It is typically used to make jewelry, such as necklaces, bracelets, and earrings.
24-Carat Gold Rate
The 24-carat gold rate in Patna, India today, November 12, 2023 is ₹5,868 per gram. This is the buying price, and the selling price may be slightly higher. The price of gold can vary throughout the day, so it is always best to check with a local jeweler or online gold price tracker for the most up-to-date information.
Please note that gold prices are constantly fluctuating, so it is always best to check with a local jeweler for the most up-to-date rates.
Factors Affecting Gold Prices
Gold is a financial asset whose price fluctuates over time. Sometimes the price of gold decreases, and other times it increases. It’s considered a good investment option not only in India but also worldwide, which is why its demand is high globally. The biggest contribution to determining the price of gold is its demand, but there are several other factors as well.
- Inflation: When inflation rises in a country, the value of its currency decreases. This prompts people to prefer keeping their money in gold. Consequently, the price of gold increases.
- Interest Rates: When banks increase the interest rates on investments, people tend to sell their gold to invest their money in the bank for higher returns. This leads to a decrease in the price of gold. Conversely, when banks lower interest rates, people tend to invest more in gold, causing its price to rise.
- Reserve Accounts: Every government has a reserve, and a significant portion of it is usually held in gold. If a government decides to sell some of its gold reserves and the demand for gold increases, the price of gold goes up. However, at present, the Indian government has maintained its gold reserves at an appropriate level.
These are some of the main reasons why the price of gold fluctuates. In modern times, buying gold has become quite convenient. If you want to buy physical gold, you can easily do so by visiting a local gold shop. Additionally, there are various platforms like Zerodha and Groww if you prefer to buy digital gold. If you choose to buy gold from a physical store, you’ll receive it in forms like gold coins, bars, or jewelry. Don’t forget to obtain a gold certificate from the store if you’re making a purchase from a gold shop.