There has been a big decline in gold prices recently. A lot of fluctuations have been seen in the price of gold in the last few days. This change in gold prices has occurred due to many reasons, among which the policies of the US Federal Reserve and the global economic situation are prominent. In this article we will discuss in detail today’s gold rate, reasons for the fall in prices and further possibilities.
Gold prices in India are influenced by the international market. In the last few months, gold prices had reached record levels, but now they have declined. This decline is significant for investors and the general public, as gold is not only jewelery but also a major means of investment for Indian households.
Gold price: at a glance
| Description | Value |
| Current price of 24 carat gold (per 10 grams) | ₹72,280 |
| Current price of 22 carat gold (per 10 grams) | ₹66,250 |
| Decline from last month till now | about 5% |
| Highest price of year 2024 | ₹80,710 per 10 grams (November 2024) |
| Minimum price of year 2024 | ₹62,002 per 10 grams (February 2024) |
| price of gold in international market | $2,638.73 per ounce |
Due to fall in gold prices
- US Federal Reserve Policies: The possibility of the Fed cutting interest rates has affected gold prices.
- Strengthening of the dollar: The strengthening of the US dollar has increased pressure on gold prices.
- Global economic situation: The economic recovery after the Covid-19 pandemic has also affected the demand for gold.
- Investors’ attitude: The rise in the stock market has diverted investors’ attention from gold.
- Geopolitical Tension: Easing tensions in the Middle East have reduced demand for gold as a safe haven investment.
Gold prices in different cities
Gold prices vary in different cities of India. This difference is due to local taxes, demand and supply.
- Delhi: 24 carat gold – ₹72,280 per 10 grams
- Mumbai: 24 carat gold – ₹72,130 per 10 grams
- Kolkata: 24 carat gold – ₹72,130 per 10 grams
- Chennai: 24 carat gold – ₹72,680 per 10 grams
- Bengaluru: 24 carat gold – ₹72,130 per 10 grams
future of gold prices
Experts believe that short-term fluctuations in gold prices may continue. Some key factors that may affect gold prices in the coming times:
- US Economic Data: Employment and inflation data will influence gold prices.
- Federal Reserve Policies: The possibility of interest rate cuts could be positive for gold.
- Global economic situation: New variants of Covid-19 and the pace of economic recovery will be important.
- Geopolitical Developments: International tensions may increase demand for gold.
- Seasonal demand: Demand for gold may increase during festivals and wedding seasons.
Tips for investors
- Take a long-term view: Take a long-term view when investing in gold.
- Diversification: Include other assets along with gold in your portfolio.
- Time to buy: You can buy by taking advantage of falling prices.
- Ensure quality: Always buy gold from certified sellers only.
- Monitor the market: Keep an eye on gold prices and market trends regularly.
Gold investment options
- Physical Gold: Buying gold coins or jewellery.
- Gold ETFs: Funds traded on stock exchanges.
- Sovereign Gold Bond: Bonds issued by the government.
- Digital Gold: Investing in gold on online platforms.
- Gold Mutual Funds: Mutual funds that invest in gold.
Effect of gold prices on the economy
Fluctuations in gold prices have macroeconomic implications:
- Inflation: Gold prices are often seen as an indicator of inflation.
- Foreign exchange reserves: Foreign exchange reserves are affected by gold imports.
- Jewelery Industry: Gold prices directly affect the jewelery industry.
- Banking Sector: Loans against gold and gold monetization scheme are affected.
- Investment Patterns: Gold prices influence the behavior of investors.
Things to keep in mind while purchasing gold
- Purity check: Prefer hallmarked gold.
- Weighing accuracy: Ensure correct weighing.
- Bills and Certificates: Be sure to get the bill of purchase and purity certificate.
- Price Comparison: Compare prices from different sellers.
- Buyback Policy: Know about the seller’s buyback policy.
conclusion
The current decline in gold prices provides opportunities for investors and consumers. However, it is important to keep personal financial goals and risk tolerance in mind when making investment decisions. Gold prices are likely to continue to fluctuate, so it is important to keep an eye on market movements and take prudent decisions.
Disclaimer
This article is for informational purposes only and should not be taken as financial advice. Gold prices constantly change according to market conditions. Always consult a qualified financial advisor before investing. The information in the article was correct at the time of writing, but it may change over time. Readers are advised to rely on their own research and analysis and to evaluate their financial objectives and risk tolerance before making any investment decisions.