Today, July 9, gold prices in India show slight increases across various carats and cities, reinforcing gold’s status as a key investment asset.
Gold’s Enduring Appeal as an Investment
Gold has long been considered a safe haven asset, especially during times of economic uncertainty. Its ability to act as a hedge against inflation makes it a popular choice for investors looking to protect their wealth.
Over the years, the precious metal has consistently proven its worth, growing in significance within investment portfolios nationwide.
Understanding Gold Carat Values Today
The price of gold varies based on its purity, measured in carats. On July 9, 2024, the national average rates for different purities are:
- 24 Carat Gold: ₹9,885 per gram
- 22 Carat Gold: ₹9,061 per gram
- 18 Carat Gold: ₹7,414 per gram
These rates reflect a marginal increase of ₹1 per gram compared to yesterday’s prices, a common daily fluctuation in the gold market.
City-Wise Gold Price Overview
While there’s a national average, gold prices can differ slightly from city to city due to local taxes, transportation costs, and demand. Here’s a look at today’s rates in major Indian cities.
Delhi’s Gold Market Update
In the capital city, Delhi, gold prices saw a slight uptick. 24 carat gold is priced at ₹9,900 per gram, up from ₹9,899 yesterday. For 22 carat gold, the rate is ₹9,076 per gram, and 18 carat gold stands at ₹7,426 per gram, both also showing a ₹1 increase from the previous day.
Gold Rates in Mumbai and Bangalore
Mumbai, India’s financial hub, mirrors the national average closely. 24 carat gold is available at ₹9,885 per gram, 22 carat at ₹9,061 per gram, and 18 carat at ₹7,414 per gram. Bangalore shares these exact same rates, indicating a consistent pricing trend across these major metropolitan areas, each showing a ₹1 increase from yesterday.
Chennai and Hyderabad: What’s the Price?
Chennai’s gold rates show a slight variation for 18 carat gold, priced at ₹7,476 per gram today, which is marginally higher than Mumbai or Bangalore. However, its 22 carat and 24 carat rates align with Mumbai and Bangalore at ₹9,061 and ₹9,885 per gram, respectively. Hyderabad follows the same pricing as Mumbai and Bangalore across all three carats, with slight daily increases noted across the board.
Key Takeaways for Gold Investors
- Gold prices today show a slight increase across all carats and major cities in India.
- 24 carat gold hovers around ₹9,885 – ₹9,900 per gram, depending on the city.
- 18 and 22 carat gold prices follow a similar upward trend.
- Gold continues to be a preferred investment for hedging against inflation.
Keeping an eye on these daily fluctuations is essential for both buyers and investors in the dynamic gold market.
