Gold prices across major Indian cities saw an uptick on July 22nd, with rates increasing for 18, 22, and 24 carat varieties compared to yesterday.
Understanding Gold Purity: Carats Explained
When you buy gold, you often hear terms like 18 carat, 22 carat, and 24 carat. These numbers indicate the purity of the gold.
24 carat gold is considered the purest form, being 99.9% pure. 22 carat gold, also known as ‘916 gold’, contains 91.6% pure gold, with the remaining percentage being other metals like silver or copper to increase durability. 18 carat gold has 75% pure gold, making it even harder and more suitable for intricate jewelry designs.
Gold as a Smart Investment
Gold has long been revered as a reliable investment, particularly during times of economic uncertainty. It serves as an ideal hedge against inflation, meaning its value tends to hold steady or even increase when the purchasing power of currency declines.
Over the years, gold has become an increasingly important asset in many investors’ portfolios, offering stability and a safe haven during market fluctuations.
Today’s National Gold Price Snapshot
On July 22nd, the price for 24 carat gold in India stands at ₹10,129 per gram. For 22 carat gold, the rate is ₹9,285 per gram, while 18 carat gold is priced at ₹7,597 per gram.
These rates reflect a general increase compared to yesterday, indicating an upward trend in the precious metal’s value across the country.
City-Wise Gold Rates on the Rise
Delhi Gold Price Update
In the capital city, 18 carat gold is available at ₹7,609 per gram today, up from ₹7,524 yesterday. Similarly, 22 carat gold rose to ₹9,300 per gram from ₹9,195, and 24 carat gold increased to ₹10,144 per gram from ₹10,030.
Mumbai Gold Price Update
Mumbai saw its 18 carat gold price reach ₹7,597 per gram today, compared to ₹7,511 yesterday. The 22 carat gold rate is now ₹9,285 per gram (yesterday ₹9,180), and 24 carat gold is at ₹10,129 per gram (yesterday ₹10,015).
Rates in Other Major Cities
Cities like Bangalore and Hyderabad reported prices mirroring Mumbai’s rates for 22 and 24 carat gold. Chennai, while sharing the same 22 and 24 carat rates as Mumbai, had a slightly higher 18 carat price at ₹7,650 per gram today.
- Gold prices across India show an upward trend on July 22nd.
- 24 carat gold is priced around ₹10,129 per gram nationally.
- Gold continues to be a strong inflation hedge and a crucial investment.
Staying informed about daily gold rates is essential for both investors and consumers, as prices can fluctuate based on various global and local economic factors.
