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Gold

Gold Prices in India Reach Historic Highs Amidst US Government Shutdown Concerns

Strategic Insights

— 2 min read

The price of gold in India reached historic highs at the start of October, driven by concerns over a potential US government shutdown, which led to increased demand for safe-haven assets, in addition to the festive seasonal demand in India. On October 13, Monday, gold prices have seen an upward trend across all purity levels, with the consistent price rise reflecting growing demand and market fluctuations influencing gold valuations. The yellow metal is considered an ideal inflation hedge, with 24-carat gold being the most expensive form of gold and commonly used for investment purposes, while 22-carat gold and 18-carat gold are primarily utilised for jewellery.

Key Takeaways:

  • The price of 24K gold is é 12,540 per gram, marking an increase of é 32 compared to the previous day.
  • 22K gold stands at é 11,495 per gram, up by é 30, while 18K gold is priced at é 9,405 per gram, showing a rise of é 24.
  • The current gold prices in major Indian cities are:

+ Chennai: é 12,573 for 24K, é 11,525 for 22K, and é 9,525 for 18K per gram.

+ Mumbai: é 12,540 for 24K, é 11,495 for 22K, and é 9,405 for 18K per gram.

+ Delhi: é 12,555 for 24K, é 11,510 for 22K, and é 9,420 for 18K per gram.

+ Bangalore: é 12,540 for 24K, é 11,495 for 22K, and é 9,405 for 18K per gram.

  • 24 KT gold is priced at é 1,00,320 for 10 grams, é 1,25,400 for 100 grams, and é 12,54,000 for 1000 grams in India today.
  • 22 KT gold is priced at é 91,960 for 10 grams, é 1,14,950 for 100 grams, and é 11,49,500 for 1000 grams in India today.
  • 18 KT gold is priced at é 75,240 for 10 grams, é 94,050 for 100 grams, and é 9,40,500 for 1000 grams in India today.

Statistics:

  • 24K gold: é 12,540 per gram, é 1,00,320 for 10 grams, é 1,25,400 for 100 grams, and é 12,54,000 for 1000 grams.
  • 22K gold: é 11,495 per gram, é 91,960 for 10 grams, é 1,14,950 for 100 grams, and é 11,49,500 for 1000 grams.
  • 18K gold: é 9,405 per gram, é 75,240 for 10 grams, é 94,050 for 100 grams, and é 9,40,500 for 1000 grams.

Sources:

  • GoodReturns
  • Contify.com
  • IE Online Media Services Pvt. Ltd.

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