The price of gold in India for both 22 and 24 carat has drastically increased as of December 2, 2022. In India, 10 grammes of 24 carat gold cost Rs 53,730, compared to Rs 49,250 for 10 kilos of 22 carat gold. Silver prices, meanwhile, fell to Rs 61,400.
Prior to the US jobs report, gold prices, which were flat on December 2 in the international markets, had their best week in three weeks thanks to the dollar’s slide on expectations that the US Federal Reserve will halt the rate of interest rate increases.
A little changed at $1,800.78 per ounce as of 00:37 GMT, spot gold prices had earlier in the session reached their highest level since August 10. US gold futures remained steady at $1,814.60.
Check the 24k and 22k prices per gramme of gold today in Dubai, the USA, India, and Singapore.
India’s price of gold
Chennai, South India, had the highest price for gold, costing Rs 53,880 for 24-carat gold and Rs 49,400 for 22-carat gold. In Delhi, the price of 10 grammes of 24-carat gold was Rs 53,780 and 22-carat gold was Rs 49,300. In Bengaluru, the price of gold was Rs 49,250 for 22-karat gold and Rs 53,730 for 24-karat gold. Kolkata, Hyderabad, and Mumbai all charge the same price for the yellow metal. Ten grammes of 24-carat gold cost Rs 53.730 as opposed to Rs 49,250 for ten grammes of 22-carat gold.
Gold cost in the USA
With the dollar falling on anticipation that the US Federal Reserve will pause the pace of interest rate hikes, gold prices were flat on Friday but were on course for their best week in three ahead of the US employment report.
At 00:37 GMT, spot gold was little changed at $1,800.78 per ounce after earlier in the session reaching its highest level since August 10. The price of US gold futures GCv1 stayed the same at $1,814.60.
Singapore’s price of gold
The price of 24kt gold per gramme is currently SGD 78.233 in Singapore, but the price of 22kt gold per gramme is SGD 71.688 at the moment.
Price of gold in Dubai
Tuesday saw a big increase in the price of gold in Dubai, which has since drastically decreased. 24 Karat Gold: At the opening of the markets, the price of 24 Karat gold in Dubai was steady at Dh212.25 per gramme. Gold in the following carat weights: 22K, 21K, and 18K. The prices for 22K, 21K, and 18K gold were somewhat higher at Dh199.5, Dh190.25, and Dh163.25 per gramme, respectively.
Conclusion
In order to diversify one’s investment portfolio and protect against long-term inflation, gold is utilised as an asset class. Many experts suggest keeping exposure to gold around 5–10% of the overall portfolio and caution against further gold holdings. It is preferable to purchase gold gradually because a price decline cannot be completely ruled out in the near term.
