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Gold prices in India surged on December 5, 24-karat gold reached Rs 130,260 per 10 grams, an increase of Rs 410 from the previous closing price. 22-karat gold was trading at Rs 119,405 per 10 grams.
Gold in India 15% Costlier Than Dubai
New Delhi: On December 5, gold prices in India saw a slight increase. 24-karat gold was trading at ₹130,260 per 10 grams, ₹410 higher than the previous closing price. The price of 22-karat gold was recorded at ₹119,405 per 10 grams, and 18-karat gold at ₹97,695 per 10 grams. According to experts, this increase is due to expectations of a potential interest rate cut by the US Federal Reserve in the global market.
Gold prices in India are significantly higher than in the international market. Today, the price of 24-karat gold in India was ₹130,260, while in Dubai it was ₹112,816 per 10 grams, meaning gold in India is approximately 15.46% more expensive than in Dubai. The same difference is observed in the prices of 22 and 18-karat gold. This difference is further amplified by import duties, taxes, and local demand.
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Gold prices are influenced by several factors. Recent economic data in the US and the strength of the dollar, changes in oil prices in the international market, and policies of the Federal Reserve all affect gold prices. A stronger dollar makes gold more expensive for foreign buyers, leading to a decrease in demand. Meanwhile, silver prices are being influenced by industrial demand, activities such as electronics and solar panel manufacturing.
Experts say that gold prices may rise further in the near future. Investors should keep an eye on both domestic and international gold prices. A strategy of investing in gold across different tenures can be adopted for liquidity and long-term investment. Additionally, investors can also include various options such as Gold ETFs and digital gold in their portfolios.
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Mumbai: 24 carat ₹130,260, 22 carat ₹119,405, 18 carat ₹97,695
Delhi: 24 carat ₹130,040, 22 carat ₹119,203, 18 carat ₹97,530
Chennai: 24 carat ₹130,640, 22 carat ₹119,753, 18 carat ₹97,980
Bengaluru: 24 carat ₹130,360, 22 carat ₹119,497, 18 carat ₹97,770
Kolkata: 24 carat ₹130,090, 22 carat ₹119,249, 18 carat ₹97,568
Investors and buyers should pay attention to global events and the dollar exchange rate and invest cautiously.
