Gold Rate Today 31 October 2023, Gold Prices in India 22 & 24 Carat

In today’s ever-changing financial landscape, keeping track of Gold Rate Today 31 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.

Vaarta bharat 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.

Also Read | Gold Price Today in Ludhiana 30 October 2023, Gold Rates in Punjab 22 & 24 Carat

Gold Rate Today 31 October 2023 in India

As of 29 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 5,670▼ per gram for 22k, while for 24k also known as 999 gold, prices are Rs 6,185▼ per gram.

Gold Rate Today 31 October 2023 in India 22 carat gold price (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,670 5,720 50 ▼
8 Gram 45,360 45,760 400 ▼
10 Gram 56,700 57,200 500 ▼
100 Gram 5,67,000 5,72,000 5,000 ▼

Also Read | Gold Price Today in Ludhiana 31 October 2023, Gold Rates in Punjab 22 & 24 Carat

Gold Rate Today 31 October 2023 in India 24 carat gold price (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 6,185 6,240 55 ▼
8 Gram 49,480 49,920 440 ▼
10 Gram 61,850 62,400 550 ▼
100 Gram 6,18,500 6,24,000 5,000 ▼

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 in Indian Major Cities (10 g):-

City22 K Today24 K Today
Mumbai 56,700 61,850
Chennai 57,150 62,350
Delhi 56,850 62,000
Bangalore 56,700 61,850
Kolkata 56,700 61,850
Jaipur 56,850 62,000
Pune 56,700 61,850
Hyderabad 56,700 61,850
Kerala 56,700 61,850

Also Read | Gold Price Today in Ludhiana 31 October 2023, Gold Rates in Punjab 22 & 24 Carat

Gold Price in India Last 10 Days(10 g):-

Date22 K Gold24 k gold
Oct 30, 2023 56,700 (500▼) 61,850 (550▼)
Oct 30, 2023 57,200 (210▼) 62,400 (230▼)
Oct 29, 2023 57,410 (10▲) 62,630 (10▲)
Oct 28, 2023 57,400 (600▲) 62,620 (660▲)
Oct 27, 2023 56,800 ( ~ ) 61,960 ( ~ )
Oct 26, 2023 56,800 (150▲) 61,960 (160▲)
Oct 25, 2023 56,650 (100▲) 61,800 (110▲)
Oct 24, 2023 56,550 (200▲) 61,690 (240▲)
Oct 23, 2023 56,350 (250▼) 61,450 (300▼)
Oct 22, 2023 56,600 ( ~ ) 61,750 ( ~ )

Gold Price in Major Countries (22 carat & 24 carat)

Country22 K Today24 K Today
Kuwait 51,823 54,785
Bahrain 51,648 54,738
Oman 52,556 55,043
Qatar 52,497 55,692
Singapore 51,675 57,342
United States 51,207 55,371
Dubai 50,666 54,746
Kuala Lumpur 52,084 54,880
Abu Dhabi 50,666 54,746

Also Read | Gold Price Today in Ludhiana 31 October 2023, Gold Rates in Punjab 22 & 24 Carat

Gold Rate in Delhi 22 & 24 Carat

As of today, the price of gold changes day to day. As per recent date, gold prices in Delhi today are Rs 5,685 per gram for 22k, while for 24k also known as 999 gold, prices are Rs 6,200 per gram.

Gold Rate in Delhi 22 carat gold (INR)

Gram22 K Today22 K YesterdayPrice Change
1 Gram 5,685 5,735 50 ▼
8 Gram 45,480 45,880 400 ▼
10 Gram 56,850 57,350 500 ▼
100 Gram 5,68,500 5,73,500 5,000 ▼

Gold Price in Delhi 24 carat gold (INR)

Gram24 K Today24 K YesterdayPrice Change
1 Gram 6,200 6,255 55 ▼
8 Gram 49,600 50,040 440 ▼
10 Gram 62,000 62,550 550 ▼
100 Gram 6,20,000 6,25,500 5,500 ▼

Also Read | Gold Price Today in Ludhiana 31 October 2023, Gold Rates in Punjab 22 & 24 Carat

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.

Understanding gold rate today 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.