Gold price on January 7: Gold prices in India remained stable on Tuesday, providing some relief to investors and buyers amid recent fluctuations. The cost of 24-carat gold is currently priced at Rs 78,870.30 per 10 grams, while 22-carat gold is available at Rs 72,310.30 per 10 grams. Both rates have shown no change compared to the previous day.
Despite the stability observed today, gold prices have shown slight fluctuations over the past week and month. The price of 24-carat gold recorded a weekly decline of 1.47%, while the monthly trend shows a decrease of 1.39%. These trends indicate a mild downward movement in the gold market, influenced by global and domestic factors.
Analysts predict that gold may continue to see moderate fluctuations in early 2025, with its safe-haven status keeping it in demand among investors amid uncertainties in global markets.
Check gold prices in different cities on January 7, 2024:
| City | 22 Carat Gold Rate (Per 10 gm) | 24 Carat Gold Rate (Per 10 gm) |
| Delhi | Rs 72,290 | Rs 78,873 |
| Mumbai | Rs 72,140 | Rs 78,700 |
| Kolkata | Rs 72,140 | Rs 78,700 |
| Chennai | Rs 72,140 | Rs 78,700 |
| Ahmedabad | Rs 72,190 | Rs 78,750 |
| Pune | Rs 72,140 | Rs 78,700 |
| Lucknow | Rs 72,290 | Rs 78,850 |
| Bengaluru | Rs 72,140 | Rs 78,700 |
| Patna | Rs 72,190 | Rs 78,700 |
| Hyderabad | Rs 72,140 | Rs 78,700 |
Why does the price of gold fluctuate?
The price of gold fluctuates due to a variety of factors, including insights from esteemed jewellers. Key influences include global demand for gold, exchange rate fluctuations, prevailing interest rates, and government regulations governing gold trading. Additionally, international events such as the overall state of the global economy and the strength of the US dollar relative to other currencies significantly affect gold prices in the Indian market.
