Gold Price Today 8th October 2023, Gold Price in India & Delhi

In today’s ever-changing financial landscape, keeping track of gold price Today 8th October 2023 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.

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 8th October 2023 in India

As of 8th 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 5,315 per gram for 22k, while for 24k also known as 999 gold, prices are Rs 5,798 per gram.

Gold Price Today 8th October 2023 India 22 carat gold price (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,315 5,275 40
8 Gram 42,520 42,200 320
10 Gram 53,150 52,750 400
100 Gram 5,31,500 5,27,500 4,000

Gold Price Today 8th October 2023 India 24 carat gold price (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 5,798 5,754 44
8 Gram 46,384 46,032 352
10 Gram 57,980 57,540 440
100 Gram 5,79,800 5,75,400 4,400

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.

Gold Price Today 8th October 2023 in Indian Major Cities (10 g):-

City22 K Today24 K Today
Mumbai 53,150 57,980
Chennai 53,700 58,580
Delhi 53,300 58,130
Bangalore 53,150 57,980
Kolkata 53,150 57,980
Jaipur 53,300 58,580
Pune 53,150 57,980
Hyderabad 53,150 57,980
Kerala 53,150 57,980

Gold Price Today 8th October 2023 in India Last 10 Days(10 g):-

Date22 K Gold24 k gold
Oct 8, 2023 52,150 (400) 57,980 (440)
Oct 7, 2023 52,750 (250) 57,540 (310)
Oct 6, 2023 52,500 (100) 57,230 (70)
Oct 5, 2023 52,400 (-190) 57,160 (-210)
Oct 4, 2023 53,590 (-10) 57,380 (-10)
Oct 3, 2023 53,600 (-600) 57,380 (-660)
Oct 2, 2023 53,200 (-150) 58,040 (-160)
Oct 1, 2023 53,350 ( ~ ) 58,200 ( ~ )
Sept 30, 2023 53,350 (-300) 58,200 (-330)
Sept 29, 2023 53,650 (-250) 58,530 (-270)

Gold Price Today in Delhi

As of today, the price of gold changes day to day. As per recent date, gold prices in Delhi today are Rs 5,330 per gram for 22k, while for 24k also known as 999 gold, prices are Rs 5,813 per gram.

Gold Price Today 8th October 2023 in Delhi 22 carat gold price (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,330 5,290 40
8 Gram 42,640 42,320 320
10 Gram 53,300 52,900 400
100 Gram 5,33,000 5,29,000 4,000

Gold Price Today 8th October 2023 in Delhi 24 carat gold price (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 5,813 5,769 44
8 Gram 46,504 46,152 352
10 Gram 58,130 57,690 440
100 Gram 5,81,300 5,76,900 4,400

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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 rate 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 rates. 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 rates 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 rates 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 rate 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.