Gold Rate Falls In India: Check Price In Your City On August 13

Gold Rate Falls In India: Check Price In Your City On August 13

On August 13, 2024, gold prices in India experienced a notable decline, bringing some relief to buyers and investors. This drop in gold rates is influenced by various global and domestic factors, including economic conditions, currency fluctuations, and market demand.

Current Gold Prices in Major Cities

Here’s a quick look at the gold prices for 22-carat and 24-carat gold in some of the major cities across India:

• Delhi:

  • 22-carat gold: ₹54,800 per 10 grams
  • 24-carat gold: ₹59,760 per 10 grams

• Mumbai:

  • 22-carat gold: ₹54,650 per 10 grams
  • 24-carat gold: ₹59,620 per 10 grams

• Chennai:

  • 22-carat gold: ₹55,000 per 10 grams
  • 24-carat gold: ₹60,000 per 10 grams

• Kolkata:

  • 22-carat gold: ₹54,650 per 10 grams
  • 24-carat gold: ₹59,620 per 10 grams

• Bengaluru:

  • 22-carat gold: ₹54,650 per 10 grams
  • 24-carat gold: ₹59,620 per 10 grams

• Hyderabad:

• 22-carat gold: ₹54,650 per 10 grams
• 24-carat gold: ₹59,620 per 10 grams

Factors Influencing Gold Prices

Several factors contribute to the fluctuation in gold prices:

1. Global Economic Conditions: Economic stability or instability can significantly impact gold prices. During economic downturns, gold is often seen as a safe-haven asset, leading to increased demand and higher prices.

2. Currency Valuations: The strength of the Indian Rupee against the US Dollar plays a crucial role. A weaker Rupee makes gold more expensive in India, while a stronger Rupee can lead to lower prices.

3. Market Demand: The demand for gold in the jewelry sector, especially during festive seasons and weddings, can drive prices up. Conversely, lower demand can lead to price drops.

4. Government Policies: Import duties and regulations related to gold trade can also affect prices. Any changes in these policies can lead to immediate fluctuations in the market.

5. Global Events: Events such as geopolitical tensions, changes in interest rates by major economies, and global trade dynamics can influence gold prices.

Conclusion

The recent fall in gold prices on August 13, 2024, offers a favorable opportunity for buyers and investors. However, it’s essential to stay informed about the factors influencing these prices to make well-informed decisions. Whether you’re looking to invest or purchase gold jewelry, keeping an eye on the market trends can help you make the most of your investment.