Gold Rate Today: 22K & 24K Gold Price

Gold Rate as on 4th July 2022
Gold Rate as on 4th July 2022

by 5paisa Research Team Last Updated: Jul 04, 2022, 10:50 AM IST


Gold Price Today vs. Gold Price Yesterday

The most popular gold rate for trading and futures purposes is normally the 24-carat gold with higher purity. Hence, when we talk of gold price today in the case of financial markets it refers to 24-carat gold. Similarly, when we talk of gold rate today for gold jewellery, it refers to 22-carat gold, which is normally not traded in financial markets.
 

Date 22 Carat ( /gm) 24 Carat ( /gm)
04-July-22 ₹4,800 ₹ 5,234
03-July-22 ₹4,800 ₹ 5,234
Change (₹) ₹ 0 ₹ 0
Change (%) 0.00% 0.00%

 

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In gold, the opening price becomes the benchmark price. The gold price today for 24-carat gold and the gold rate today for 22-carat gold are indicative rates that are not inclusive of GST, applicable tax collection at source, making charges and other levies.

To get a trend perspective of gold prices, let us look at the gold prices over the last 10 Days and the daily trend of gold prices of 22-carat gold and 24-carat gold on a sequential basis.

 

Historical Gold Rates

 

Date

Gold Price (22 K /gm)

Gold Price (24 K /gm)

Sequential Trend

04-July-22

₹ 4,800

₹ 5,234

Same

03-July-22

₹ 4,800

₹ 5,234

Same

02-July-22

₹ 4,800

5,234

Up

01-July-22

₹ 4,785

₹ 5,220

Up

30-Jun-22

₹ 4,665

₹ 5,100

Down

29-Jun-22

₹ 4,675

₹ 5,100

Down

28-Jun-22

₹ 4,765

₹ 5,198

Same

27-Jun-22

₹ 4,765

₹ 5,198

Up

26-Jun-22

₹ 4,755

₹ 5,187

Same

25-Jun-22

₹ 4,755

₹ 5,187

-


Gold has been a valuable asset class from times immemorial. In India, gold has been one of the most preferred asset classes, with Indian households owning more than $1.30 trillion just in the form of domestic gold.

Types of Gold – Classified by Purity

One of the most popular classifications of gold is based on carats. Incidentally, carat measures the purity of gold and higher the carat value, higher is the purity of gold. Broadly, gold has 5 popular classifications based on purity, which is captured as under.
 

Particulars

24 K

22 K

18 K

14 K

10 K

Gold Purity

99.95%

91.67%

75.00%

58.33%

41.67%


Higher the purity, more malleable and softer will be the gold. Hence 24-carat gold is rarely used for jewellery as daily wear and tear will make it lose shape. The most popular for gold jewellery is 22-carat gold which has 91.67% purity. However, even 22-carat gold cannot hold diamonds and studded gems. Hence for jewellery with studded stones or diamonds, normally lower purity gold of 18-carat or 14-carat is used. Lower carat gold consists of a mix of gold with silver, nickel and zinc.

Frequently Asked Questions (FAQ) on Gold Rates


1.  What factors affect the gold rate? 

A number of factor go into the pricing of gold jewellery demand is one factor, but the most important factor is economic or geopolitical uncertainty. This leads to a spike in the price of gold as it is seen as a safe haven asset. Gold is inversely related to dollar and equities.

2.  Is gold and silver rate the same?

Gold is more of a precious metal which is a safe haven asset class. Silver, is more of a commodity with extensive industrial application. However, an important factor in gold and silver pricing globally is the gold/silver ratio.

3.  What causes gold rate to drop?

Normally, gold rates fall when the dollar strengthens or when equities are robust. Similarly, when there is news of an increase in GDP, then gold prices drop. Gold prices can also drop if the ETF demand for gold goes down.

4.  Why does gold rate increase? 

The most common reason for an increase in gold rate is the rise in economic and geopolitical uncertainty. If you look at the past, gold rates have risen in times of the global financial crisis, during the COVID pandemic, during the Iran embargo etc.

5.  Which cities get affected by gold rate fluctuation? 

While gold is most actively traded in the Mumbai markets in terms of spot bullion and in terms of gold futures, the biggest demand for gold comes from Kerala state. This is the state that consumers maximum gold overall and obviously also on a per capita basis.

6.  Is it a good time to buy gold?

There is normally, no good time to buy gold. Investors must ideally look at gold allocation in the range of 10-15% of their overall asset allocation. This excludes your jewellery holdings. The holding can tweaked in the range based on gold prices.
 

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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52,935.38
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