Gold Price Today 1st October 2023, Gold Price in India & Delhi

Gold Price Today 1st October: In today’s ever-changing financial landscape, keeping track of gold prices in India is of utmost importance. Whether you are a seasoned investor, a jeweler, or simply someone interested in the economic trends of the nation, knowing the current gold rates can significantly impact your decisions. This article will provide you with up-to-date information on gold prices in India, including historical context, factors influencing the prices, and how to make the most of this valuable data.

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Introduction

Gold has been a symbol of wealth and prosperity in India for centuries. Its value transcends mere economic considerations, often taking on cultural and emotional significance. Understanding the dynamics of gold prices in India is essential, as it affects not only individual investors but also the broader economy.

Gold Price Today India

As of 1st October 2023, the value of Gold is especially important for experts. Following the price of gold is important for those who view it as an investment and who want to check the stability of its value.

Taken from jewellers. Gold prices in India today are Rs 5,335 per gram for 22k, while for 24k also known as 999 gold, prices are Rs 5,820 per gram.

Gold Price Today 1st October India 22 carat gold price (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,335 5,335 0
8 Gram 42,680 42,680 0
10 Gram 53,350 53,350 0
100 Gram 5,33,500 5,33,500 0

Gold Price Today 1st October India 24 carat gold price (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 5,820 5,820 0
8 Gram 46,560 46,560 0
10 Gram 58,200 58,200 0
100 Gram 5,82,000 5,82,000 0

You should keep in mind that small fluctuations can occur in the value of gold, and this may include market conditions, economic signals, and global events.

Indian Major Cities Today’s Gold Price 1st October Today(10 g):-

City22 K Today24 K Today
Mumbai 53,350 58,200
Chennai 53,600 58,470
Delhi 53,500 58,350
Bangalore 53,350 58,200
Kolkata 53,350 58,200
Jaipur 53,500 58,350
Pune 53,350 58,200
Hyderabad 53,350 58,200
Kerala 53,350 58,200

Gold Price Today 1st October in India Last 10 Days(10 g):-

Date22 K Gold24 k gold
Sept 30, 2023 53,350 (-300) 58,200 (-330)
Sept 29, 2023 53,650 (-250) 58,530 (-270)
Sept 28, 2023 54,900 (-600) 59,800 (-650)
Sept 27, 2023 54,500 (-250) 59,450 (-280)
Sept 26, 2023 54,750 (-200) 59,730 (-220)
Sept 25, 2023 54,950 ( ~ ) 59,950 ( ~ )
Sept 24, 2023 54,950 ( ~ ) 59,950 ( ~ )
Sept 23, 2023 54,950 (100) 59,950 (110)
Sept 22, 2023 54,850 (-200) 59,840 (-210)
Sept 21, 2023 55,050 (-150) 60,050 (-180)

Gold Price Today Delhi

As of today, the price of gold changes day to day. As per recent date, gold prices in Delhi today are Rs 5,350 per gram for 22k, while for 24k also known as 999 gold, prices are Rs 5,835 per gram.

Gold Price Today Delhi 1st October 22 carat gold price (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,350 5,350 0
8 Gram 42,800 42,800 0
10 Gram 53,500 53,500 0
100 Gram 5,35,000 5,35,000 0

Gold Price Today Delhi 1st October 24 carat gold price (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 5,835 5,835 0
8 Gram 46,680 46,680 0
10 Gram 58,350 58,350 0
100 Gram 5,83,500 5,83,500 0

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Factors Influencing Gold Prices

Global Economic Conditions

The global economic climate plays a pivotal role in determining gold prices. During times of economic uncertainty, investors often flock to gold as a safe-haven asset, driving up its demand and price.

Currency Fluctuations

Gold prices are closely tied to currency fluctuations, particularly the strength of the Indian Rupee against the US Dollar. A weaker Rupee typically leads to higher gold prices.

Geopolitical Events

Political instability, conflicts, and international events can create sudden spikes in gold prices as investors seek refuge from uncertainty.

Demand and Supply Dynamics

The basic principles of supply and demand also apply to gold. Increased demand, especially during festive seasons, can drive prices up.

Central Bank Policies

Decisions made by central banks, such as interest rate changes or monetary easing, can impact gold prices. Lower interest rates often lead to higher gold prices.

How Gold Prices Are Determined in India

In India, gold prices are primarily determined by the bullion markets, where physical gold is bought and sold. These prices are influenced by various factors, including import duties and taxes and the exchange rate between the Rupee and the Dollar.

To make informed decisions about gold investments, it’s essential to review historical price trends. Over the last decade, gold prices in India have experienced significant fluctuations.

The Role of Gold in Indian Culture

Gold is deeply embedded in Indian culture, from weddings to festivals. It’s not just a form of investment; it’s a symbol of tradition and prosperity.

Investing in Gold: Strategies and Options

Investors have multiple avenues for investing in gold, ranging from physical gold to Gold Exchange-Traded Funds (ETFs). Timing and diversification strategies can maximize returns.

Where to Find Reliable Gold Price Information

Accessing accurate and up-to-date gold price information is crucial. Reliable sources include government websites, financial news portals, and mobile apps.

How to Interpret Gold Price Data

Understanding gold price charts and patterns can help investors make educated predictions about future price movements.

The Impact of Gold Prices on Other Assets

Gold prices can have a ripple effect on other asset classes, including stocks, real estate, and even cryptocurrencies.

Buying and Selling Gold in India

Navigating the Indian gold market involves various options, from traditional jewelry stores to online platforms. Each has its pros and cons.

Safety and Security Concerns

Storing physical gold safely and being aware of potential scams is paramount when dealing with this precious metal.

Taxation on Gold Transactions

Investors need to be aware of taxation rules, including capital gains tax and GST on making charges, when buying or selling gold.

Gold Price Predictions for the Near Future

Expert opinions and market sentiments often provide valuable insights into where gold prices might be headed.

Conclusion

Understanding today’s gold prices in India is not just a financial endeavor but a cultural and economic one. Armed with knowledge, individuals and businesses can make informed decisions, ensuring that gold remains a valuable part of their portfolios.