Gold Price Today: Good News! Gold becomes cheaper, know what is the price of gold in your city

Gold Price Today: As we all have heard from our parents and relatives, investing in gold is a very good and secure option, which is why most people in India invest their money in gold. However, before investing your money in anything, it is important to have complete knowledge about your investments.

Therefore, in today’s post, you will learn about the gold price today in India’s major cities and how it going to be investing in gold in 2023 so that if you are considering investing in gold, you have the complete information you need to make your decisions wisely.

According to a report by the World Gold Council in 2019, Indian households have around 25,000 tons of gold which is more than the top 15 countries’ gold reserves altogether. Maybe this is because we Indians understand that gold and silver are god’s money and paper money is human-made. The hunger for this gold is generations old as we understand that having gold and silver is the real wealth.

There is data that shows that Indian housewives hold 11% of the world’s gold. So, I think now it is clear that if you are not investing in gold in this huge demand then you are not properly diversifying your portfolio for better and confirmed returns.

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In this post, you will receive daily updates on the current gold prices. Today’s gold price in India (21st of October, 2023) has also been updated.

In India, people normally purchase gold in 18 carats, 22 carats, and 24 carats. 22-carat gold is about 91% pure, and the remaining 9% consists of a combination of copper and zinc. On the other hand, 24-carat gold has a purity of 99.9%, and as the purity increases the price of gold increases.

18 Carat Gold Price Today

On October 21, 2023, in New Delhi, India, the price of 18-carat gold is ₹45,941 per 10 grams.

Gram	18-Carat Gold Price Today
1 Gram	4,594
10 Gram	₹45,941
100 Gram	₹4,59,414

22 Carat Gold Price Today

Gold Price Today: On October 21, 2023, in New Delhi, India, the price of 22-carat gold is ₹56,150 per 10 grams.

Gram	22 Carat Gold Price Today
1 Gram	5,615
8 Gram	44,920
10 Gram	56,150
100 Gram	5,61,504

24 Carat Gold Price Today

Gold Price Today: On October 21, 2023, in New Delhi, India, the price of 24-carat gold is ₹61,255 per 10 grams.

Gram	24 Carat Gold Price Today
1 Gram	6,125
8 Gram	49,004
10 Gram	61,255
100 Gram	6,12,550

Find out the gold prices in your city.

Gold Price Today: Below, you can find the information on today’s, October 21st, gold prices for 24-carat and 22-carat gold in major cities of India.

City	22-Carat Gold Price	24-Carat Gold Price
New Delhi	56,150	₹61,155
Chandigarh	56,150	₹61,155
Mumbai	56,008	₹61,080
Kurukshetra	56,150	₹61,155
Amritsar	56,150	₹61,155
Ludhiana	56,150	₹61,155
Jaipur	56,150	₹61,155
Chennai	56,008	₹61,080
Kolkata	56,008	₹61,080
Bengaluru	56,008	₹61,080
Agra	54,160	₹61,155
Hyderabad	56,008	₹61,080
Varanasi	56,150	₹61,155
Kochi	56,008	₹61,080
Shimla	56,150	₹61,155
Puducherry	56,008	₹61,080
Kanpur	56,150	₹61,155
Merut	56,150	₹61,155
Gurugram	56,150	₹61,155

Gold Price Today: Gold (Sone) is in demand in many countries apart from India. Therefore, so you can compare the prices of gold with other countries, we have provided information about the current gold prices in other countries below.

Country	22-Carat Gold Price	24-Carat Gold Price
Dubai	Rs. 45,209	Rs. 46,285
Saudi Arabia	Rs. 42,379	Rs. 46,140
Honk Kong	Rs. 42,360	Rs. 46,120
Switzerland	Rs. 42,338	Rs. 46,095

How does the price of gold change in India?

Gold is a financial asset whose price fluctuates a lot. Sometimes, the price of gold decreases, and at other times, it increases. It’s important to note that gold is considered a good investment option not only in India but also worldwide, which contributes to its demand. The primary driver for determining the price of gold is its demand, but several other factors influence it.

When there is low supply and high demand for gold, the prices tend to rise. Conversely, when there is reduced demand and higher supply, gold prices tend to decrease. For example, during festive seasons and wedding seasons in India, the demand for gold tends to increase, which often leads to higher gold prices.

In addition to demand, several other factors can affect gold prices:

1. Inflation: A nation’s currency loses value when it undergoes inflation. People might want to hold their riches in the form of gold as a result. The cost of gold typically rises in these circumstances.
2. Interest Rates: Bank-set interest rates can fluctuate, which might impact gold prices. People may decide to sell their gold and put their money in interest-bearing accounts as interest rates increase. This might cause gold prices to drop. In contrast, when interest rates decline, consumers could prefer to invest in gold, which raises the price of gold.
3. Reserve Holdings: Governments have substantial gold stockpiles. A government’s decision to sell some of its gold holdings may result in higher gold prices if there is greater demand for the metal. It’s important to note, though, that the Indian government has kept its gold holdings at a sensible level.

How to Buy Gold?

In modern times, is quite straightforward. If you want to purchase physical gold, you can visit a local jewelry store or a goldsmith’s shop. They offer gold in various forms such as coins, bars, or jewellery. When buying physical gold, make sure to obtain a gold certificate, which verifies its authenticity.

If you prefer digital gold, there are several platforms available, such as Angel One and Groww, where you can invest in gold digitally. These platforms allow you to buy and sell gold online, and your investment is backed by physical gold stored in secure vaults.

Please note that gold prices can vary from one seller to another within the same city, and they are subject to change due to market conditions and other factors. It’s advisable to check with local jewelers or trusted sources for the most up-to-date and accurate gold prices.

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