Gold Price Today/Fluctuations

Apart from being precious, gold is also a popular investment option in India. People pass gold jewellery down to generations as an heirloom, attaching a lot of emotional connection to it. It is a symbol of wealth and prosperity in society. Due to all these reasons, gold has a massive market in India. As a result, the gold prices today are extremely significant for the Indian economy.

Several factors lead to gold price fluctuations. In the following sections, we will discuss them along with a gold price chart. Furthermore, you will learn how a Personal Loan from Hero FinCorp can help you invest in gold with repayment in easy EMIs.

Gold Rates in Top Cities

Since the gold rates vary in different Indian cities, here is a look at the gold value today*:

*As of 3rd December 2024

24K Gold Rates Per Gram in India

While the above chart shows gold prices today* for 10 gms or 1 tola, you may want to know the gold rates per gram. However, the gold rate also differs by its purity. For instance, 24k gold is costlier than 22k gold. Here is an overview of 22k and 24k gold rates per gram in India in various cities:

Read Also: How To Start Gold Import Export Business In India?

Gold Price in India, Significance and Relation to the Economy

While gold is the most popular metal for making jewellery in India, gold coins, bars and ETFs are also the safest options for investors. Gold investment provides security against inflation during market downfalls. Today, gold value tends to rise when interest rates decrease, as lower rates make holding gold more attractive. However, its value is not directly proportional to a country’s economic power. Although gold rate fluctuation makes the investment volatile, it always delivers greater value in the long run.

Historical Gold Rates in India

Here’s a glimpse into the historical gold rates in India from 2000 to 2024:

What are the Factors that Affect Gold Prices in India?

The gold fluctuation depends on various factors. They range from market supply and demand to geopolitical events. Some of the most important factors include the following:

1. Global Economic Indicators

Global economic indicators like inflationary pressures, financial crises, and trade wars impact investor sentiments. Uncertain environmental conditions like the COVID-19 pandemic impact the global economy. During such times, investors turn to safer investment options like gold, which eventually drives their prices higher.

2. Currency Fluctuations

The US dollar rate largely affects the gold price worldwide. A weaker dollar increases the gold price. As a result, gold becomes more affordable for people using other currencies.

3. Geopolitical Events

Political conflicts and instability may increase the demand for gold. Uncertain global market conditions cause more investors to buy gold and store its value for turbulent times.

4. Market Demand and Supply

Like any other commodity, market demand and supply also affect gold's value. Changes in recycling rates, mining output, and industrial demand largely impact gold availability in the market.

Benefits of Investing in Gold

Here are a few benefits of investing in gold:

• Protects against declining asset types like equities and real estate
• Brings relief from tough situations, especially during financially challenging times
• Provides high liquidity, making it a safer asset that is easier to sell
• Provides hedge against inflation
• Requires very low maintenance
• The quality does not deteriorate over time
• Diversifies the investment portfolio
• Best way to invest and save money for the future

Read Also: How Can Instant Personal Loans Help Buy Digital Gold in India?

How can a Personal Loan help you invest in Gold?

Gold is an expensive metal. So, using your savings to buy gold is not feasible. Instead, you can use a Personal Loan from Hero FinCorp to buy gold and repay its cost in easy EMIs. Here is how these unsecured loans help you invest in gold:

• Instant loan amount of up to Rs 5 Lakh to buy sufficient gold
• Competitive personal loan interest rates that do not increase the gold’s cost significantly
• Flexible repayment terms that make EMIs easily affordable
• No security required as collateral

Read Also: How To Get A Personal Loan With A Co-Applicant

Steps to Apply for a Personal Loan for Gold Purchase

Do you want to purchase gold with funds from a Personal Loan? Follow these steps to apply for a Personal Loan online:

Step 1- Visit the Hero FinCorp website or install the loan app

Step 2- Go to the Personal Loan page and click ‘Apply Now’

Step 3- Enter your mobile number and verify with the OTP received

Step 4- Choose the loan amount you need

Step 5- Verify your KYC details to check income eligibility

Step 6- Click ‘Submit’ to complete your application

Read Also: Personal Loans: Applying Online vs Applying Offline

Conclusion

Several factors contribute to gold price today*. They include geopolitical events, currency fluctuations, market demand and supply, and global economic conditions. If you want to invest in the yellow metal without disturbing your savings, apply for a Personal Loan online with Hero FinCorp and distribute the cost into EMIs.

Frequently Asked Questions (FAQs)

Will the price of gold decrease in the coming days?

The gold rates have been increasing, and there is less chance of their decreasing in the coming days. However, certain global and geopolitical factors may cause downward gold price fluctuations.

How can I check the purity of gold?

Look for a stamp or hallmark on the gold piece to know its purity.

What is the difference between 22 karat gold and 24 karat gold?

22k gold has 91.67% purity, while 24k gold has 99.99% purity.

What is 916 gold?

916 gold is 22k gold with 91.67% purity.

When was the highest incline seen in gold prices in India?

The highest incline in gold rates was seen in 2024, when it increased to Rs 76,710 from Rs 63,203 in 2023.

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