gold price today:Gold has always been an important investment and means of security for Indians. Recently, a remarkable movement was observed in gold prices on January 9, which caught the attention of investors and the general public. In this article we will take a detailed look at the new gold prices, market trends and the reasons behind it.
Gold price fluctuations are influenced by many factors, such as the global economy, currency markets, and political stability. The change seen on January 9 created a new excitement in the market, prompting investors to rethink their portfolios.
Gold price: at a glance
To understand the change seen in gold prices on January 9, let’s take a brief overview:
| Description | price |
| 24 carat gold price (per 10 grams) | ₹63,220 |
| 22 carat gold price (per 10 grams) | ₹57,950 |
| daily change in gold price | increase of ₹110 |
| Silver price (per kg) | ₹74,500 |
| International gold price (per ounce) | $1,943 |
| value of dollar against indian rupee | ₹83.12 |
Gold Price Today: New price of 24 carat gold
A significant rise was seen in the price of 24 carat gold on January 9. At the rate of per 10 grams, the price of 24 carat gold reached ₹63,220. This represents an increase of ₹110 compared to the previous day. This growth is an important signal for investors and the jewelery industry.
Due to increase in prices
- Global Economic Uncertainty: The ongoing economic instability around the world has pushed investors towards safer investment options.
- Currency Depreciation: The fall in the value of the Indian rupee has increased the demand for gold.
- Festive Season: The demand for gold has increased due to the upcoming festive season.
- Policies of Central Banks: Monetary policies adopted by the central banks of various countries have also had an impact.
22 Carat Gold Rate: What is the new price?
The price of 22 carat gold also increased to ₹57,950 per 10 grams on January 9. This increase is in line with 24 carat gold prices. 22 carat gold is used more in making jewellery, hence changes in its price have a direct impact on jewelery prices.
22 carat vs 24 carat: What’s the difference?
- Purity: 24 karat gold is 99.9% pure, while 22 karat gold is 91.7% pure.
- Strength: 22 karat gold is stronger and suitable for making jewellery.
- Price: 24 karat gold is more expensive because it is pure gold.
Silver Rate Today: Fluctuations in the price of silver
The price of silver also reached ₹74,500 per kg on January 9. These changes in the price of silver follow the same path as the price of gold, but a few different factors are involved:
- Industrial Demand: Silver is used in many industries, which affects its price.
- As an alternative to gold: Many investors turn to silver when gold becomes expensive.
- Global Supply: Changes in the mining and supply of silver also affect prices.
International Gold Price: Impact of global market
The price of gold in the international market reached $1,943 per ounce. This indicates the demand and supply of gold at the global level. Indian gold prices are influenced by international prices, but there are some variations:
- Import Duty: Gold prices in India are high due to import duty.
- Local Demand: High demand for gold in India affects prices.
- Currency Exchange Rate: The value of the rupee against the dollar also affects the price of gold.
Gold Investment: Is it right to invest in gold right now?
There are several things to consider when deciding to invest in gold:
- Long Term Investment: Gold is considered a stable investment in the long term.
- Portfolio diversification: Gold can help keep your investment portfolio balanced.
- Inflation protection: Gold often acts as a hedge against inflation.
- Market Volatility: Consider current market conditions and future projections.
Gold ETF vs Physical Gold: What is the better option?
Investors have several options to invest in gold:
Physical Gold
- Advantages: Tactile property, use as ornaments
- Disadvantages: Safety concerns, storage costs
Gold ETF (Gold Exchange Traded Fund)
- Advantages: Easy buying and selling, low storage costs
- Disadvantages: No ownership of physical gold
Future of Gold Price: What can happen in the future?
It is difficult to predict the future of gold prices, but there are some factors that can affect it:
- Global economic situation: Economic recession or boom can affect gold prices.
- Geopolitical tensions: International conflicts could increase demand for gold.
- Policies of central banks: Changes in interest rates can affect the attractiveness of gold.
- Technological Innovation: New mining techniques can affect the supply of gold.
Gold Loan: Is it a good option?
The popularity of gold loans is increasing. Here are some important points:
- Quick Money: Gold loans can fulfill the need of emergency funds.
- Low interest rates: Lower interest rates compared to other personal loans.
- Security: Your gold remains safe with a bank or financial institution.
- Risk: Gold may be lost if loan is not repaid.
Digital Gold: New investment option
Digital Gold is becoming a new and attractive investment option:
- Convenience: Facility of online buying and selling.
- Low investment: Investment possible even with small amount.
- Secure Storage: No worries about physical storage.
- Purity Guarantee: Assured of certified purity.
Gold Schemes: Government Schemes
The Government of India has launched several gold related schemes:
- Sovereign gold bonds: Government-issued bonds that are linked to the value of gold.
- Gold Monetization Scheme: Opportunity to earn interest by depositing the gold lying at home in the bank.
- Hall Marking: Mandatory standard to ensure purity of gold.
Disclaimer
This article is for informational purposes only and should not be taken as financial advice. Gold prices constantly change according to market conditions. Always consult a qualified financial advisor before investing. The author or publisher is not responsible for the consequences of any investment decisions. Please note that the information given here is at the time of writing and may differ from the current situation.
