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On the seventh of January, the price of gold remained unchanged throughout the country. This information will be of great benefit to investors and buyers following harsh market developments. A decrease in the value of gold has been noted. The current value of a 10-gram of 24-carat gold is estimated to be 78,870.30 rupees while 72,310.30 rupees for 22-carat gold. The last recorded prices are similar to the previous day.
Despite the steady conditions that prevailed today, the gold prices were not constant over the past week and the one-month period. As for the price of gold on a 24-carat basis, a weekly depreciation was leveled to the tune of 1.47 percent while a trend on the monthly basis reflected depreciation of approximately 1.39 percent. These trends are indicative of a slight general bearish movement within the gold market, caused by both internal and external influences.
Some analysts speculate that the value of gold will stabilize in early 2025 while experiencing minor swings, thanks to its status as a safe haven, which will still satisfy investors during unpredictable periods in the international markets.
Check gold prices in different cities on January 7, 2024:
City
22 Carat Gold Rate (Per 10 gm)
24 Carat Gold Rate (Per 10 gm)
Delhi
Rs 72,290
Rs 78,873
Mumbai
Rs 72,140
Rs 78,700
Kolkata
Rs 72,140
Rs 78,700
Chennai
Rs 72,140
Rs 78,700
Ahmedabad
Rs 72,190
Rs 78,750
Pune
Rs 72,140
Rs 78,700
Lucknow
Rs 72,290
Rs 78,850
Bengaluru
Rs 72,140
Rs 78,700
Patna
Rs 72,190
Rs 78,700
Hyderabad
Rs 72,140
Rs 78,700
Why does the price of gold fluctuate?
Insights from knowledgeable jewelers are just a part of what explains the reasons why the price of gold changes. The most important ones are the world’s gold requirements, currencies exchange rates, interest rates, and also the laws concerning the purchase of gold. Other factors such as the condition of the economy in general and the value of the US currency in relation to other currencies also strongly influence the Indian market price of gold.
