Gold Prices Rise in India Check Gold Rates Across Cities 2024
Rise In Gold Prices India 2024
Gold Prices Rise in India Check Gold Rates Across Cities 2024
Title: Gold Prices Rise in India: Check 24-Carat Gold Rates Across Cities on January 21, 2024
Introduction:
On January 21, 2024, gold prices saw a notable increase in various cities across India. The rates for 10 grams of both 22-carat and 24-carat gold varied across different cities, highlighting the dynamic nature of the gold market.(Gold Prices Rise in India Check Gold Rates Across Cities 2024)
Gold Rates in Major Cities:
Here are the gold rates for 10 grams of 22-carat and 24-carat gold in different cities as of January 21, 2024:
| City | 22-Carat Gold Price | 24-Carat Gold Price |
|---|---|---|
| Delhi | Rs 57,950 | Rs 63,200 |
| Mumbai | Rs 57,800 | Rs 63,050 |
| Chennai | Rs 58,250 | Rs 63,550 |
| Ahmedabad | Rs 57,850 | Rs 63,100 |
| Gurugram | Rs 57,950 | Rs 63,200 |
| Kolkata | Rs 57,800 | Rs 63,050 |
| Lucknow | Rs 57,950 | Rs 63,200 |
| Bengaluru | Rs 57,800 | Rs 63,050 |
| Jaipur | Rs 57,950 | Rs 63,200 |
| Patna | Rs 57,850 | Rs 63,100 |
| Bhubaneshwar | Rs 57,800 | Rs 63,050 |
| Hyderabad | Rs 57,800 | Rs 63,050 |
Gold Futures on Multi Commodity Exchange:
As of January 19, 2024, gold futures set to expire on February 05 were being traded at Rs 61,988 on the Multi Commodity Exchange. Additionally, silver futures with an expiration date of March 05, 2024, were trading at Rs 71,510.(Gold Prices Rise in India Check Gold Rates Across Cities 2024)
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Factors Affecting Gold Prices:
Several factors influence the price of gold:
- Market Forces and Gold Valuation: The price of gold is primarily determined by the dynamics of supply and demand. Increased demand or limited supply can lead to a rise in gold prices.
- Global Economic Dynamics: The state of the global economy plays a significant role in gold prices. Economic downturns often lead to increased investment in gold as a safe haven, driving up its price.
- Political Uncertainty: Political instability can create uncertainty in financial markets, leading investors to seek refuge in gold, which can increase its demand and price.(Gold Prices Rise in India Check Gold Rates Across Cities 2024)
Outlook for 2024:
The All India Gem and Jewellery Domestic Council (GJC) predicts that prevailing global economic uncertainties and geopolitical tensions will push gold prices to a record high of Rs 70,000 per 10 grams in 2024. This forecast underscores gold’s status as a safe investment and a hedge against inflation.(Gold Prices Rise in India Check Gold Rates Across Cities 2024)
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Conclusion:
The rise in gold prices on January 21, 2024, reflects the complex interplay of various factors influencing the gold market. As investors and consumers monitor these changes, the demand for gold continues to shape its value in the Indian market.(Gold Prices Rise in India Check Gold Rates Across Cities 2024)
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