Gold Rate Today In India: Gold (Gold Price Today) is at a new record high in the domestic and global market. Gold is witnessing continuous strength amid the cut in interest rates in the US after four years last Wednesday and the increasing possibility of further sharp cuts. The rate of 10 grams of gold in India reached its record high of 78,250 in Delhi yesterday. According to the All India Sarafa Sangh, gold remained at a record high for the second consecutive day yesterday.
However, today on Friday 27 September 2024, there has been a slight decline in the price of gold (Gold Price Today). This slight decline is at Rs 20 per 10 grams. There has been a continuous rise in the rate of gold for the last several days. Due to continuous rise in prices in the international market and rising domestic demand, there was a continuous rise in the price of gold.
The price of 22 carat gold is trading above Rs 70,700 in big cities of the country (Gold Prices in Metro Cities) like Delhi, Noida, Ghaziabad, Lucknow, Jaipur, Mumbai, Kolkata. While the rate of 24 carat gold is above Rs 77,180. The rate of silver is trading at Rs 94,900. Check the rate of gold in 15 big cities of the country.
Gold Prices in Metro Cities (22 and 24 carat gold rates):
| City | 22 Carat Gold Rate | 24 Carat Gold Rate |
|---|---|---|
| Delhi | ₹70,740 | ₹77,160 |
| Mumbai | ₹70,590 | ₹77,010 |
| Ahmedabad | ₹70,640 | ₹77,060 |
| Chennai | ₹70,590 | ₹77,010 |
| Kolkata | ₹70,590 | ₹77,010 |
| Gurugram | ₹70,740 | ₹77,160 |
| Lucknow | ₹70,740 | ₹77,160 |
| Bengaluru | ₹70,590 | ₹77,010 |
| Jaipur | ₹70,740 | ₹77,160 |
| Patna | ₹70,640 | ₹77,060 |
| Bhubaneswar | ₹70,590 | ₹77,010 |
| Hyderabad | ₹70,590 | ₹77,010 |
Gold Prices in Global Market
The record rise in the prices of gold in the global market is supporting domestic prices. In the global market, spot gold reached a record level of $ 2,660.43 an ounce on Friday, September 27, 2024. Similarly, the benchmark US December gold futures (Gold COMEX Dec 24) is also $ 2,692.10 an ounce. Gold prices have seen a rise of about 30 percent so far this year. According to experts, due to the possibility of further reduction in interest rates in the US, gold is currently witnessing a great rise.
Experts believe that if other major central banks, including the US, continue to cut interest rates further, then investors in Western countries may again turn towards gold and there may be a more clear and sustainable rise in gold going forward. The figures also confirm that for the last two months, the interest of retail investors in Western countries has started increasing regarding gold. If these experts are to be believed, then investors from Western countries may play a bigger role in the future rise in gold.
Apart from this, there are many other factors which are currently supporting gold. The rising investment in gold ETF is one of those important factors. According to the report of the World Gold Council, an increase in investment (inflow) in gold ETF was recorded for the fourth consecutive month in August at the global level. During August 2024, investment in gold ETF increased by $ 2.1 billion (equivalent to the value of 28.5 tonnes of gold) at the global level.
Investments in gold ETFs increased by $3.7 billion (equivalent to the value of 48.5 tonnes of gold) at the global level during July 2024. Investments in gold ETFs also increased by $1.4 billion (equivalent to the value of 17.5 tonnes of gold) at the global level during June 2024. Earlier, net investment in gold ETFs increased by $0.5 billion (equivalent to the value of 8.2 tonnes of gold) in May after 12 consecutive months of decline.
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