Gold price on January 2: Gold prices saw a modest uptick on Thursday, with the cost of 24-carat gold in India reaching Rs 78,180.30 per 10 grams, marking an increase of Rs 4,600 compared to previous rates. Meanwhile, the price of 22-carat gold in the country rose to Rs 71,680.30 per 10 grams, reflecting a hike of Rs 420.
This increase follows a relatively stable trend for gold prices over the past week, with the price of 24-carat gold showing a slight dip of -0.35 per cent. Meanwhile, over the course of the last month, the price change has been even more modest at -0.28 per cent.
Despite these fluctuations, gold remains a key investment for many, with prices continuing to reflect both global market trends and domestic demand. 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 2, 2024:
| City | 22 Carat Gold Rate (Per 10 gm) | 24 Carat Gold Rate (Per 10 gm) |
| Delhi | Rs 71,660 | Rs 78,183 |
| Mumbai | Rs 71,510 | Rs 78,695 |
| Kolkata | Rs 71,510 | Rs 78,925 |
| Chennai | Rs 71,510 | Rs 78,330 |
| Ahmedabad | Rs 71,560 | Rs 78,975 |
| Pune | Rs 71,510 | Rs 78,695 |
| Lucknow | Rs 71,660 | Rs 78,199 |
| Bengaluru | Rs 71,510 | Rs 78,985 |
| Patna | Rs 71,560 | Rs 78,950 |
| Hyderabad | Rs 71,510 | Rs 78,995 |
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.
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