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In a historic moment for the Indian bullion market, the gold rate today has touched a record high, with prices surpassing the ₹1 lakh mark for 10 grams of 24-carat gold. This unprecedented surge reflects growing investor interest in gold amid global economic uncertainties and a weakening rupee.
Gold Rate Today: Key Highlights
- As of Tuesday, gold prices in India have crossed ₹1,00,000 per 10 grams for the first time in history.
- Just a day earlier, on Monday, the price for 10 grams of 24-carat gold stood at ₹99,800.
- This surge is driven by rising demand due to the ongoing China-US trade tensions, fears of a global recession, and seasonal wedding demand.
- Since December 31, the price of gold has increased by ₹20,850 — a rise of approximately 26.4% in just four months.
Why Is the Gold Rate Rising So Rapidly?
Several economic and geopolitical factors are fueling this steep rise in gold prices:
- Safe-Haven Demand: Amid global market volatility and uncertainty, investors are turning to gold as a safe investment.
- Recession Fears: Speculations of an impending global recession have led to a spike in demand for stable assets like gold and silver.
- Weakening Rupee: The Indian rupee has depreciated by nearly 4% this year against the US dollar, increasing the cost of imports, including gold.
- Wedding Season Demand: With the Indian wedding season underway, demand for gold jewelry has significantly surged.
Gold Price Today in Major Indian Cities
According to data from Goodreturns.com, here’s the breakdown of gold prices today across major Indian cities for 24-carat and 22-carat gold:
| City | 24 Carat Gold (₹/g) | 22 Carat Gold (₹/g) |
|---|---|---|
| Delhi | ₹10,150 | ₹9,305 |
| Noida | ₹10,135 | ₹9,290 |
| Gurugram | ₹10,135 | ₹9,290 |
| Mumbai | ₹10,135 | ₹9,290 |
| Chennai | ₹10,135 | ₹9,290 |
| Bengaluru | ₹10,135 | ₹9,290 |
| Kolkata | ₹10,135 | ₹9,290 |
| Bhubaneswar | ₹10,135 | ₹9,290 |
In Bhubaneswar, the price of 18-carat gold (999 gold) is currently around ₹7,601 per gram.
Should You Invest in Gold Now?
Given the current bullish trend in gold prices, many investors are considering gold a safe bet against inflation, currency depreciation, and market volatility. However, potential investors should monitor the market closely and consider consulting financial advisors before making large investments, especially with prices at historic highs.
