The fluctuation of gold prices has always been an important topic for investors and the general public. Recently, gold prices in India have declined on 5 December 2024. This decline was caused by several economic factors, such as demand for gold in the global market, international currency exchange rates and local market conditions. In this article, we will discuss today’s gold prices, the reasons behind them and future prospects.
today’s gold price
24 karat gold price in India on December 5, 2024 is ₹77,943 per 10 grams. Whereas the price of 22 carat gold is ₹71,463 per 10 grams. A slight decline has been seen in the prices of gold in the last few days. The table below gives details of gold prices in different cities:
| City | 24 carat (₹) | 22 carat (₹) |
| Delhi | 77,943 | 71,463 |
| Mumbai | 77,890 | 71,400 |
| Chennai | 77,891 | 71,400 |
| Kolkata | 77,895 | 71,400 |
| Bengaluru | 77,890 | 71,400 |
| Bhubaneswar | 77,890 | 71,400 |
Due to fall in gold prices
There are several reasons for the fall in gold prices:
- Global Demand: There has been a decline in the demand for gold at the international level. This has also affected the local market.
- Currency Exchange Rate: Gold prices are being affected due to the strength of the US dollar.
- Economic conditions: Global economic conditions and interest rates also impact gold prices.
Trend of last one month
There have been some fluctuations in gold prices in the last one month. However, today’s prices have remained stable compared to last week. The table below shows the trend for the last one month:
| date | 24 carat (₹) | Change (%) |
| 5th December | ₹77,943 | -0.03% |
| 28 November | ₹78,000 | +1.00% |
| 21 November | ₹76,500 | -0.50% |
| 14 November | ₹76,800 | +0.20% |
| 7 November | ₹76,600 | +0.15% |
Tips for investors
Gold is considered a safe investment. If you are thinking of buying gold, keep the following things in mind:
- Market Research: Always keep an eye on market trends.
- Long Term Investment: If you are thinking of making long term investment then gold can be a good option.
- Diversification: Invest in other assets as well to diversify your investments.
conclusion
Today, gold prices are influenced by various economic factors. The recent decline has forced investors to think whether this is the right time to buy gold or not. However, gold has always been a safe haven asset and its value has continued to increase over time.
Disclaimer: This information is for general information only and should not be construed as financial advice. It would be advisable to consult your financial advisor before investing. Take decisions keeping the current situation in mind and avoid any kind of speculation.
