Unraveling Today’s Gold Price in India – 18th February 2024
Gold Rate in India Today: Today’s gold rate in India stands at
₹61,740 per 10 grams for 24 Carat and ₹56,560 for 22 Carat. These prices have been updated on the 18th of February 2024 and are aligned with industry standards. Gold, historically known as a perfect hedge against inflation, continues to attract investors seeking stability amidst economic uncertainties.
Domestic Gold Price Analysis: In India, gold holds deep cultural significance and is integral to various ceremonies and traditions. The price of gold today reflects not only economic factors but also the enduring cultural affinity for this precious metal. Goodreturns (OneIndia Money) provides these updated gold rates for informational purposes, sourcing data from reputable jewellers across the country.
Factors Driving Gold Price Fluctuations:
- Global Economic Dynamics: The price of gold is intricately linked to global economic conditions. Factors such as inflation rates, interest rate decisions by central banks, and geopolitical tensions can significantly impact investor sentiment towards gold as a safe-haven asset.
- Domestic Demand Patterns: India, renowned for its affinity towards gold, boasts a vibrant market driven by cultural practices, auspicious occasions, and investment preferences. Weddings, festivals, and religious ceremonies fuel consistent demand for gold, regardless of economic fluctuations.
- Government Policies and Regulations: The Indian government’s policies regarding gold imports, taxes, and duties play a pivotal role in shaping the domestic gold market. Changes in regulations can affect the availability of gold and its pricing dynamics.
- International Market Trends: India stands as one of the largest consumers of gold globally, thus making it highly sensitive to international market trends. Fluctuations in global gold prices, influenced by factors like currency movements and geopolitical events, reverberate through India’s gold market. https://livesamacharnews.com/todays-gold-pric…uary-2024-an-ove/
Gold Price Breakdown:
- 24 Karat Gold: ₹6,240 per gram
- 22 Karat Gold: ₹5,720 per gram
- 18 Karat Gold: ₹4,680 per gram
Gold Rates in Major Countries (10g): Here’s a comparison of today’s gold rates (per 10 grams) in major countries:
| Country | 22 Karat Gold (INR) | 24 Karat Gold (INR) |
|---|---|---|
| Bahrain | ₹51,963.19 | ₹55,045.75 |
| Kuwait | ₹52,155.22 | ₹55,120.11 |
| Malaysia | ₹53,313.31 | ₹55,570.88 |
| Oman | ₹52,931.76 | ₹55,411.26 |
| Qatar | ₹52,812.48 | ₹56,113.26 |
| Saudi Arabia | ₹51,350.88 | ₹55,335 |
| Singapore | ₹52,131.03 | ₹57,553.64 |
| United Arab Emirates | ₹55,089.21 | ₹55,089.21 |
| United States | ₹53,955.92 | – |
Gold Rate Trends for Last 10 Days: Below is the gold rate trend (per 10 grams) for the last 10 days in India:
| Date | 22 Karat Gold (INR) | 24 Karat Gold (INR) | Change (compared to previous day) |
|---|---|---|---|
| Feb 18, 2024 | ₹57,200 (0) | ₹62,400 (0) | – |
| Feb 17, 2024 | ₹57,200 (100) | ₹62,400 (110) | – |
| … | … | … | … |
Weekly & Monthly Gold Price Trends: Graphs depicting the weekly and monthly trends of gold prices in India will be provided to illustrate the fluctuations over time.
In conclusion, today’s gold price in India reflects a combination of global economic trends, domestic demand, and cultural sentiments. Investors and consumers alike monitor these fluctuations closely, recognizing gold’s enduring value and its role as a cornerstone of financial stability.
Today’s Gold Price Snapshot: Here’s a snapshot of today’s gold prices (per 10 grams) in major Indian cities:
| City | 24 Karat Gold | 22 Karat Gold |
|---|---|---|
| Mumbai | 62,400 | 57,200 |
| Delhi | 62,550 | 57,350 |
| Kolkata | 62,400 | 57,200 |
| Chennai | 63,050 | 57,800 |
| Bangalore | 62,400 |