Gold Prices in India has Increased as on January 3, 2025
Gold prices in India have risen again today, January 3, 2025, following an upward trend observed in recent days. The price of 22-carat gold increased by ₹80 to ₹7,260 per gram, while the rate for 24-carat gold rose by ₹87, now priced at ₹7,920 per gram.
This increase in gold prices highlights the growing demand for the yellow metal amidst global market fluctuations and domestic economic factors.
City-Wise Gold Price Breakdown
Here’s a detailed look at today’s prices across major cities in India:
- Mumbai: 22K gold is ₹7,260 per gram, and 24K gold is ₹7,920 per gram.
- Chennai: Matches Mumbai’s rates, with 22K gold at ₹7,260 per gram and 24K at ₹7,920 per gram.
- Bangalore: Similar rates as Mumbai and Chennai, at ₹7,260 (22K) and ₹7,920 (24K).
- Hyderabad: Gold prices remain consistent with Mumbai and Chennai, at ₹7,260 (22K) and ₹7,920 (24K).
- Kerala: Aligns with the national average, pricing 22K gold at ₹7,260 and 24K at ₹7,920.
- Delhi: Slightly higher rates at ₹7,275 per gram (22K) and ₹7,935 per gram (24K).
Recent Gold Price Trends
Gold prices in India have been fluctuating recently, reflecting both global influences and domestic conditions:
- January 2: 22K gold was ₹7,180 per gram, and 24K gold stood at ₹7,833.
- January 1: Prices rose modestly, with 22K at ₹7,150 and 24K at ₹7,800 per gram.
- December 31: A slight dip saw 22K gold at ₹7,110 and 24K at ₹7,756 per gram.
A depreciating rupee, which continues to trade at all-time low levels against the US dollar, has contributed significantly to the domestic price hike. Internationally, gold serves as a hedge against currency devaluation, and the weaker rupee directly impacts gold prices in India.
Global and Local Factors Influencing Gold Prices
Gold prices are influenced by global trends, currency fluctuations, and domestic seasonal demand. As an investment asset, gold often sees a surge in demand during uncertain economic periods, especially when the rupee weakens against the dollar.
Conclusion
Today’s gold prices in India reflect a consistent upward trend, making it crucial for investors and buyers to monitor these changes closely. Whether for investment or personal purchases, understanding the factors behind gold price movements is key to making informed decisions in the dynamic gold market.
