<p><strong>Current Indian Gold Rate:</strong> On January 09, 2024, gold prices varied in different Indian cities. Ten grams was the typical fee, which was almost Rs 63,000. To be more precise, 10 grams of 24-carat gold cost an average of Rs 63,050, whereas the same quantity of 22-carat gold cost Rs 57,800. At the same time, the price of silver continued to soar, hitting Rs 76,400 per kilogram.</p>
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<p>India’s current gold rate is as follows: January 9 retail gold price</p>
<p><strong>Mumbai’s current gold rate</strong></p>
<p>Ten grams of 22-carat gold now cost Rs 57,800 in Mumbai, but the same amount of 24-carat gold is worth Rs 63,050.</p>
<p><strong>Delhi’s Current Gold Rate</strong></p>
<p>Ten grams of 22-carat gold costs Rs 57,950 in Delhi, whereas the same quantity of 24-carat gold costs Rs 63,200.</p>
<p><strong>Chennai’s current gold rate</strong></p>
<p>Ten grams of 22-carat gold costs Rs 58,300 in Chennai, whereas the same quantity of 24-carat gold costs Rs 63,600.</p>
<p>Examine current gold prices in several cities on January 9, 2024. (In grams/Rs)</p>
<p>22-carat gold price in the city; 24-carat gold price</p>
<p>Ahmedabad 63,100- 57,850</p>
<p>Gurugram 63,200- 57,950</p>
<p>Kolkata 63,050- 57,800</p>
<p>Bengaluru 57,800- 63,050</p>
<p>Lucknow 57,950- 63,200</p>
<p>Jaipur 63,200- 57,950</p>
<p>Patna 57,850-63,100</p>
<p>Bhubaneshwar 64,050 -57,800</p>
<p>Hyderabad 63,050- 57,800</p>
<p><strong>Exchange of Multiple Commodities</strong></p>
<p>Gold futures with an expiration date of February 5, 2024, were selling at Rs 62,257 on the Multi Commodity Exchange on January 9. The price of silver futures with an expiration date of March 5, 2024, was Rs 72,398.</p>
<p>Customers in the nation pay what is known as the retail price of gold. A number of factors influence this pricing, including the price of gold globally, the strength of the rupee, and the costs associated with labor and materials needed to make gold jewelry.</p>
<p>Because of its cultural importance, financial potential, and customary usage in festivals and weddings, gold has great significance in India.</p>
<p><strong>The following are a few variables that might affect the price of gold:</strong></p>
<p><strong>Market Forces and Gold Value:</strong> Supply and demand dynamics have a major impact on gold value. The price of gold usually rises when there is a spike in public demand for it. On the other hand, if there is an abundance of gold on the market, its value may drop.</p>
<p><strong>Global Economic Dynamics:</strong> The overall health of the world economy has a big impact on gold prices. Gold gains in value because investors flock to it as a safe haven during recessions and downturns in the economy.</p>
<p><strong>Impact of Political Uncertainty:</strong> The price of gold may be significantly impacted by political unrest. Situations of unpredictability or crises in crucial nations or areas may prompt investors to buy in gold as a means of protecting their wealth, hence increasing demand and driving up the price of gold.</p>
<p><strong>Forecast for 2024: Rs 70,000 for 10 grams of gold</strong></p>
<p>This year, gold prices are predicted to reach a record high of Rs 70,000 per 10 grams due to geopolitical tensions and current global economic uncertainty, according to a statement released on Tuesday by the All India Gem and Jewellery Domestic Council (GJC). This situation presents gold as a safe haven for investors and a potent inflation hedge.</p>
