October 18 Today’s Gold Price in India: Understanding the Current Rates
Table of Contents
Overview of Gold Types in India
Today’s Gold Prices
18 Karats Gold:
As of today, October 18, 2023, in New Delhi, the price of 18 karats gold is ₹44,647 per 10 grams.
- 1 gram: ₹4,464
- 10 grams: ₹44,647
- 100 grams: ₹4,46,400
22 Karats Gold:
In New Delhi, the price of 22 karats gold today is ₹55,450 per 10 grams.
- 1 gram: ₹5,545
- 8 grams: ₹44,360
- 10 grams: ₹55,450
- 100 grams: ₹5,54,500
24 Karats Gold:
As of October 18, 2023, in New Delhi, the price of 24 karats gold is ₹60,490 per 10 grams.
- 1 gram: ₹6,049
- 8 grams: ₹48,392
- 10 grams: ₹60,490
- 100 grams: ₹6,04,900
Gold Prices in Major Cities
Here is the price of 24 karats and 22 karats gold in some of the major cities in India:
| City | 22 Karats Gold (10 grams) | 24 Karats Gold (10 grams) |
|---|---|---|
| New Delhi | ₹55,560 | ₹60,600 |
| Mumbai | ₹55,100 | ₹60,110 |
| Chennai | ₹55,560 | ₹60,110 |
| Hyderabad | ₹55,100 | ₹60,110 |
| Kolkata | ₹55,100 | ₹60,110 |
| Ahmedabad | ₹55,450 | ₹60,490 |
| Jaipur | ₹55,560 | ₹60,600 |
Gold Prices in Other Countries
Gold demand is not limited to India, and it’s interesting to know the prices in other countries:
| Country | 22 Karats Gold (10 grams) | 24 Karats Gold (10 grams) |
|---|---|---|
| Kuwait | ₹49,770 | ₹50,390 |
| Singapore | ₹49,850 | ₹53,201 |
| Dubai | ₹46,568 | ₹50,307 |
| United States | ₹47,017 | ₹50,761 |
| Doha | ₹48,613 | ₹51,466 |
| Qatar | ₹48,613 | ₹51,466 |
| Muscat | ₹48,630 | ₹50,792 |
| Oman | ₹48,613 | ₹53,017 |
Factors Influencing Gold Prices
Gold prices are influenced by various factors, including:
- Inflation/Money Supply: When inflation increases, and the currency value decreases, people tend to invest in gold, leading to a rise in its prices.
- Interest Rates: Higher interest rates can lead to a decrease in gold prices as people may prefer investing in interest-bearing assets.
- Reserve Holdings: Countries holding significant gold reserves can impact global gold prices when they decide to buy or sell from their reserves.
Understanding these factors can provide insights into the fluctuations in gold prices.
How to Buy Gold [October 18]
Buying gold has become more accessible in modern times. You can purchase physical gold by visiting any local gold store. Additionally, digital platforms like Zerodha and Groww allow you to buy digital gold.
Whether you choose physical or digital gold, make sure to obtain a gold certificate if you are buying from a store. Physical gold can come in the form of coins, bars, or jewelry.
Frequently Asked Questions:
What is the gold price in Ludhiana today?[October 18]
As of today, the price of 24 karats gold in Ludhiana is ₹60,590 per 10 grams.
What is the gold price in Madhya Pradesh today?[ October 18 ]
The price of 24 karats gold in Madhya Pradesh today is ₹60,490 per 10 grams.
What is the gold price in Bihar today?[ October 18 ]
In Bihar, the price of 24 karats gold today is ₹60,490 per 10 grams.
What is the gold price in Banaras (Varanasi) today? [ October 18 ]
As of today, the price of 24 karats gold in Banaras is ₹60,490 per 10 grams.
What is the gold price in Karnal today? [October 18 ]
In Karnal, the price of 24 karats gold today is ₹60,590 per 10 grams.
What is the gold price in Haridwar today? [ October 18 ]
The price of 24 karats gold in Haridwar today is ₹59,280 per 10 grams.
What is the gold price in Ambala today? [ October 18 ]
In Ambala, the price of 24 karats gold today is ₹60,590 per 10 grams.
What is the gold price in Sonipat today? [ October 18 ]
In Sonipat, the price of 24 karats gold today is ₹60,590 per 10 grams.
Public FAQs: Understanding Gold Prices
Q1: What factors influence gold prices? October 18
Gold prices are influenced by various factors, including inflation, interest rates, and reserve holdings. In times of economic uncertainty, gold often serves as a safe-haven asset, leading to increased demand and higher prices.
Q2: How is gold purity measured in India?
In India, gold purity is measured in karats. Common karat values include 18 karats, 22 karats, and 24 karats. Higher karat values indicate higher purity, with 24 karats being the purest form.
Q3: Why does the price of gold vary in different cities? October 18
The price of gold can vary in different cities due to factors such as local demand, transportation costs, and taxes. Additionally, the prices are influenced by international market rates.
Q4: How often do gold prices change?
Gold prices are subject to regular fluctuations and can change multiple times throughout the day. They are influenced by global economic conditions, geopolitical events, and other market factors.
Q5: Is gold a good investment?
Gold is often considered a safe and stable investment, especially during times of economic uncertainty. It can act as a hedge against inflation and currency fluctuations. However, like any investment, it comes with risks, and individuals should diversify their portfolios.
Q6: How can I buy gold in India?
Gold can be purchased in India from local jewelry stores, banks, or through digital platforms that offer digital gold. Ensure you obtain a certificate of authenticity when buying physical gold.
Q7: What role does demand play in gold prices?
Demand is a significant driver of gold prices. During festive seasons, weddings, or times of economic uncertainty, demand for gold tends to increase, leading to a rise in prices.
Q8: How are gold prices determined in other countries? October 18
Gold prices in other countries are influenced by similar factors, including demand, inflation, and geopolitical events. However, local economic conditions, currency values, and government policies also play a role.
Q9: How does inflation affect gold prices?
In times of inflation, when the value of currency decreases, individuals often turn to gold as a store of value. This increased demand can lead to higher gold prices.
Q10: Can I invest in gold digitally?
Yes, there are digital platforms that allow you to invest in digital gold. Platforms like Zerodha and Groww provide convenient ways to buy and sell gold digitally.
Q11: How can I stay informed about daily gold prices? [ October 18 ]
To stay updated on daily gold prices, you can check financial news websites, use dedicated mobile apps, or follow updates from reliable financial sources. Additionally, local jewelry stores often display current gold prices.
Q12: Is gold affected by international events? [ October 18 ]
Yes, gold prices are highly influenced by international events, such as geopolitical tensions, economic crises, and major policy changes. These events can impact global economic stability, driving changes in gold prices.
Conclusion
In conclusion, understanding the dynamics of gold prices is crucial for those considering investment or tracking market trends. Gold, with its unique position as a safe-haven asset, reflects the ebb and flow of economic conditions, global events, and local demands. The daily fluctuations in gold prices are not merely financial data but a reflection of the complex interplay between inflation, interest rates, and geopolitical uncertainties.
Investors must remain vigilant and well-informed, recognizing that gold’s appeal extends beyond its aesthetic value. Whether purchased in physical form from trusted local sources or through digital platforms, gold remains a valuable component in diversified investment portfolios. The frequent changes in gold prices underscore the need for individuals to adapt and respond to evolving market conditions.
As we navigate the intricate landscape of gold prices, it is essential to consider both the local and international factors that contribute to these fluctuations. Moreover, recognizing the role of demand, especially during cultural or economic events, provides insights into the broader economic sentiment.
In this age of digital investments, platforms facilitating the purchase of digital gold offer accessible options. However, caution and due diligence are advised, emphasizing the importance of obtaining certificates of authenticity for physical gold acquisitions.
Whether one views gold as a symbol of prosperity, an ornament, or an investment, its journey through daily price changes mirrors the pulse of global economics. As we continue to witness the rise and fall of gold prices, it serves as a reminder that financial landscapes are dynamic, requiring adaptability and informed decision-making for those seeking to navigate the intricate world of investments.
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