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₹54295.00
244 (0.45%)
As on 10 December, 2022 | 13:36

Gold Spot Price

Performance

Day Range

  • Low 54030
  • High 54400
54295.00

Open Price

54262

Open Interest

15752

Previous Close

54051

About Gold

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 jewellry, it refers to 22-carat gold, which is normally not traded in financial markets.

Today 22 Carat Gold Price Per Gram in India (INR)

Gram 22 Carat Gold Today (₹)22 Carat Gold Yesterday (₹)Daily Price Change (₹)
1 gram 4,975 4,950 25
8 gram 39,800 39,600 200
10 gram 49,750 49,500 250
100 gram 497,500 495,000 2,500

Today 24 Carat Gold Price Per Gram in India (INR)

Gram 24 Carat Gold Today (₹) 24 Carat Gold Yesterday (₹) Daily Price Change (₹)
1 gram 5,428 5,400 28
8 gram 43,424 43,200 224
10 gram 54,280 54,000 280
100 gram 542,800 540,000 2,800

Historical Gold Rate

Following are historical Gold rates for 22 Carats and 24 Carats respectively:

Date

22 Carat (per gm)

24 Carat (per gm)

Trend

09-Dec-22

₹4,975

₹5,428

Same

08-Dec-22

₹4,950

₹5,400

Same

07-Dec-22

₹4,950

₹5,400

Up

06-Dec-22

₹4,930

₹5,378

Up

05-Dec-22

₹4,960

₹5,411

Up

04-Dec-22

₹4,945

₹5,395

Same

03-Dec-22

₹4,945

₹5,395

Up

02-Dec-22

₹4,925

₹5,373

Up

01-Dec-22

₹4,875

₹5,318

Up

30-Nov-22

₹4,855

₹5,297

Up

 

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

Gold Purity

24 K

99.95%

22 K

91.67%

18 K

75.00%

14 K

58.33%

10 K

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.

Gold Weight Conversion Table

To convert from To Multiply by
Tonnes Troy ounces 32150.7

Commodity Related Articles

Gold FAQs

Why is Gold Valuable?

Gold is valuable as it is used for numerous purposes such as religious matters, mining, technology, electronic parts etc., which results in higher demand. 

What is the difference between gold and spot gold?

Gold is the name of the actual commodity which can be bought physically or electronically while spot gold is the immediate price of gold as traded on various exchanges.

How does spot gold trading work?

Spot gold trading works similarly to buying and selling stocks where investors can buy gold electronically through exchanges where gold is quoted based on real-time prices. 

Is spot gold trading legal in India?

Yes, gold spot investing is completely legal in India and can be executed legally through various commodity exchanges. 

How often do gold prices change?

Physical gold prices are fixed daily while spot gold price fluctuates in real-time based on the demand and supply factors. 

Is the price of gold the same all over the world?

The price of gold, especially the spot gold price is almost the same all over the world as the denomination is the same for the gold that is quoted in the international markets.