India’s Gold Rate Drops Today: Find Out the 24 Carat Price in Your City on January 6
Current Indian Gold Rate: On January 6, 2024, the price of gold fluctuated in several Indian cities. Ten grams typically cost about Rs 63,000. More specifically, the average cost of 10 grams of 24-carat gold was Rs 63,270, whereas the same quantity of 22-carat gold cost Rs 58,000. Silver continued to rise in value at the same time, hitting Rs 76,600 per kilogram.
Indian gold rate as of right now: January 6 retail gold price
Mumbai’s current gold rate
Ten grams of 22-carat gold now cost Rs 58,000 in Mumbai, whereas the same quantity of 24-carat gold costs Rs 63,270.
Delhi’s Current Gold Rate
Ten grams of 22-carat gold costs Rs 58,150 in Delhi, whereas the same quantity of 24-carat gold costs Rs 63,400.
Chennai’s current gold rate
Ten kilos of 22-carat gold costs Rs 58,600 in Chennai, whereas the same quantity of 24-carat gold costs Rs 63,930.
Examine current gold prices in several cities on January 6, 2024. (In grams/Rs)
22-carat gold price in the city; 24-carat gold price
Ahmedabad 63,300- 58,050
Gurugram 63,970- 58,650
Kolkata 63,270- 58,800
Lucknow 63,400- 58,150
Bengaluru 63,270- 58,000
Jaipur 63,400- 58,150
Patna 58,050- 63,300
Bhubaneshwar 63,270- 58,000
Hyderabad 63,270- 58,800
Exchange of Multiple Commodities
Gold futures that expire on February 5, 2024, were trading on the Multi Commodity Exchange on January 5, 2024, for Rs 62,579. At Rs 72,580, silver futures with an expiration date of March 5, 2024, were trading.
Customers in the nation pay what is known as the retail price of gold. A number of factors influence this pricing, including the price of gold globally, the strength of the rupee, and the costs associated with labor and materials needed to make gold jewelry.
Because of its cultural importance, financial potential, and customary usage in festivals and weddings, gold has great significance in India.
The following are a few variables that might affect the price of gold:
Market Forces and Gold Value: Supply and demand dynamics have a major impact on gold value. The price of gold usually rises when there is a spike in public demand for it. On the other hand, if there is an abundance of gold on the market, its value may drop.
Global Economic Dynamics: The overall health of the world economy has a big impact on gold prices. Gold gains in value because investors flock to it as a safe haven during recessions and downturns in the economy.
Impact of Political Uncertainty: The price of gold may be significantly impacted by political unrest. Situations of unpredictability or crises in crucial nations or areas may prompt investors to buy in gold as a means of protecting their wealth, hence increasing demand and driving up the price of gold.
Forecast for 2024: Rs 70,000 for 10 grams of gold
This year, gold prices are predicted to reach a record high of Rs 70,000 per 10 grams due to geopolitical tensions and current global economic uncertainty, according to a statement released on Tuesday by the All India Gem and Jewellery Domestic Council (GJC). This situation presents gold as a safe haven for investors and a potent inflation hedge.
