New Delhi: The price of gold in India stood at Rs 6,927 per gram for 24 karat gold and Rs 6,350 per gram for 22 karat gold on August 7, 2024. Gold is considered a perfect hedge against inflation and in recent years, Indians have been looking towards the yellow metal as an important investment.
Gold Rate in India today
Gram
22 karat Rate
24 karat rate
1
₹6,350.00
₹6,927.00
10
₹63,500.00
₹69,270.00
100
₹6,35,000.00
₹6,97,100.00
Gold Price in Indian cities
Cities
22 Karat Gold price
24 Karat Gold Price
18 Karat gold price
Chennai
₹63,990.00
₹69,810.00
₹52,420.00
Mumbai
₹63,890.00
₹69,700.00
₹52,270.00
Delhi
₹64,040.00
₹69,850.00
₹52,400.00
Kolkata
₹63,890.00
₹69,700.00
₹52,270.00
Ahmedabad
₹63,940.00
₹69,750.00
₹52,310.00
Jaipur
₹64,040.00
₹69,850.00
₹52,400.00
Patna
₹63,940.00
₹69,750.00
₹52,310.00
Lucknow
₹64,040.00
₹69,850.00
₹52,400.00
Ghaziabad
₹64,040.00
₹69,850.00
₹52,400.00
Noida
₹64,040.00
₹69,850.00
₹52,400.00
Ayodhya
₹64,040.00
₹69,850.00
₹52,400.00
Gurugram
₹64,040.00
₹69,850.00
₹52,400.00
Chandigarh
₹64,040.00
₹69,850.00
₹52,400.00
Gold price on August 6
Gold prices dropped by Rs 1,100 to Rs 71,700 per 10 grams in Delhi on August 6, 2024. The rates plunged due to reduced demand from jewellers and retail buyers. Silver prices also declined for the fourth session, plummeting by Rs 2,200 to Rs 82,000 per kg from Rs 84,200 per kg in the previous trade, the All India Sarafa Association data mentioned.
Why gold prices fell
Dilip Parmar, Research Analyst at HDFC Securities, opined that the weakness in the Indian currency and physical demand ahead of the festive season (Dhanteras, Diwali, Navratri and wedding season) expected to support domestic gold prices.
Parmar further added that the uncertainty in the international arena, central bank’s demand and lower interest rates augur well for gold prices.
“Gold fell more than 1 per cent on Monday, caught in the slipstream of a global, wider market sell-off driven by mounting economic worries and Yen carry trade unwinding, however geo-political tensions and rate cut expectations are cushioning the prices.
“BOJ had a negative interest rate for more than 18 years, and a sudden increase in interest rate reduced the rate differential between Japan and the US, influencing a carry trade unwinding, and increasing pressures in major asset classes,” Manav Modi, Senior Analyst of Commodity Research at Motilal Oswal Financial Services, said.
Gold price in India on August 7, 2024: Rs 6,927 per gram for 24 karat gold and Rs 6,350 per gram for 22 karat gold. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
