Gold is one of the most used elements in India. It is mostly used in India for jewellery and investment purposes. India is said to be the topmost consumer of Gold in the whole world.
The women of India prefer gold jewellery over anything and even the men in India wear gold ornaments. In India, you can say that gold is used as a vehicle for investment.
The gold price fluctuates every day and sometimes the price remains stable in India. The Gold price in India today is Rs.152,660.87 per ounce.
To find real-time, live Gold rates in India today click on this link.
What is the price of gold in different states of India?
The gold price in India varies from one state of India to the other. It often confuses us and this is because of the jeweller’s bullion association and location.
Basically, the rate of gold is always dependent on the market value where it is traded. Now we will tell you the price of gold in different states of India.
City Wise Gold Price in India
- Gold price in Chennai: Rs.4,551 for 1 gram
- Gold price in Ahmedabad: Rs.4,920 for 1 gram
- Gold price in Hyderabad: Rs.4,543 for 1 gram
- Gold price in Mumbai: Rs.4,730 for 1 gram
- Gold price in Kolkata: Rs.4,673 for 1 gram
- Gold price in Bangalore: Rs.4,551 for 1 gram
- Gold price in Pune: Rs.4,950 for 1 gram
- Gold price in Delhi: Rs.4,681 for 1 gram
- Gold price in Kerala: Rs.4,680 for 1 gram
Why is there so much fluctuation in the gold rate in India?
There is so much of fluctuation in the gold rate in India because of the following reasons
- The Demand and the supply
This is the most common reason for which the gold price in India fluctuates. When the demand exceeds the supply the price eventually rises. And when the supply exceeds the demand the price falls.
However, in spite of this fluctuation in the gold price,it is still a safe investment to make on gold.
- The policies of the government
The policies of the government directly as well as indirectly have an impact on the gold price.
- The changes in the currency
This is another reason why the price of gold fluctuates so much. It is all dependent on the international currencies and any small change in the currency impacts the strengthening and the weakening of the gold rate.
What are the factors that are to be considered in calculating the gold price today?
There are many reasons why the gold price fluctuates in India so much but here are the few things that impact the gold rates to a huge extent
- The central bank’s verdict
- The interest rates
- The demand for the jewellery
- The rupee strength
- The portfolio diversification
What are the types of gold that you can purchase in India?
The types of Gold that you can purchase in India are the gold coins and the gold ornaments. These are the two most used form of gold which you can buy from any retail shop in India
When is it the best time to purchase Gold in India?
The best time of the year to purchase gold in India are mostly the times when the rates fall. You need to keep an eye on the rates and keep yourself updated.
Besides this, the other times you can purchase Gold in India are on festivals like Diwali, Dhanteras, Akshaya Tritiya.
These festivals are the best time of the year which you can utilize to purchase Gold at an affordable rate. At present gold is the best investment you can make. There are other options available these days where companies offer you gold on EMI’s.
In conclusion, gold is the most used ornament in India. You can give Gold to anyone and win their hearts.
Buying gold in India
There are many companies in India from where you can purchase good quality Gold along with Hallmark. So keep yourself updated with the gold price in India and purchase them when the rates dropdown.