Gold rate in India today: As of January 22, 2024, variations in gold prices were seen across different cities in India. The standardized price of 10 grams was around Rs 63,000. For more comprehensive analysis, average 10 grams 24 carat gold rate was Rs 63,050, while the equivalent amount 22 carat gold rate Was Rs 57,800. Along with this, the silver market continued to be in a bullish trend and it reached Rs 75,500 per kg.
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Gold rate in India today: Retail gold price on 22 January
gold price today in delhi
In Delhi, people will have to spend Rs 57,950 for 10 grams of 22 carat gold and Rs 63,200 for the same amount of 24 carat gold.
Gold price in Mumbai today
The current price of 10 grams of 22 carat gold in Mumbai is Rs 57,800, while the price of an equivalent quantity of 24 carat gold is Rs 63,050.
Today’s gold price in Chennai
In Chennai, the price of 10 grams of 22 carat gold is Rs 58,300 and the price of the same quantity of 24 carat gold is Rs 63,600.
Check gold rates today in various cities on January 22, 2024; (in Rs./10 grams)
| City | 22 carat gold price | 24 carat gold price |
| Ahmedabad | 57,850 | 63,100 |
| Gurugram | 57,950 | 63,200 |
| Kolkata | 57,800 | 63,050 |
| Lucknow | 57,950 | 63,200 |
| Bengaluru | 57,800 | 63,050 |
| Jaipur | 57,950 | 63,200 |
| Patna | 57,850 | 63,100 |
| Bhubaneswar | 57,800 | 63,050 |
| Hyderabad | 57,800 | 63,050 |
Multi Commodity Exchange
As of January 19, 2024, gold futures expiring on February 05 were trading at Rs 61,988 on the Multi Commodity Exchange. Besides, silver futures with expiry date March 05, 2024 were trading at Rs 71,510.
The retail price of gold in the country is the amount that customers pay for it. This price is influenced by various factors, including the global gold price, the value of the rupee and the costs associated with labor and materials used in the production of gold jewellery.
Gold is highly important in India because of its cultural significance, investment value and its traditional role in weddings and festivals.
Here are several factors that can impact the price of gold:
Market Forces and Gold Valuation: Gold valuation is primarily influenced by supply and demand dynamics. If people’s interest in gold increases, its price increases. On the contrary, excess supply of gold in the market can lead to a fall in its price.
Global Economic Dynamics: The macroeconomic condition of the global economy plays an important role in determining gold prices. During periods of economic decline or recession, investors often turn to gold as a safe-haven investment, causing its value to increase.
Impact of Political Uncertainty: Political instability can also have a significant impact on gold prices. Instances of uncertainty or crisis in major countries or regions may prompt investors to protect their assets by investing in gold, leading to increased demand and a rise in the price of gold.
2024 Outlook: Gold price at Rs 70,000 per 10 grams
The All India Gem and Jewelery Domestic Council (GJC) recently said that gold prices are expected to reach a record high of Rs 70,000 per 10 grams this year on the back of ongoing global economic uncertainties and geopolitical tensions. This development establishes gold as a safe investment and an effective hedge against inflation.
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