The Current Gold Rates in India vary slightly depending on the time, place and karat:
Current Gold Rate for 24 Karat Gold as of June 2, 2024 (Jaipur):
[table id=16 /]- 10g of 24k gold (99.9%) in Jaipur is 74,710.00 Indian Rupee
Disclaimer: These rates are constantly changing, so it’s important to check with a reliable source for the most up-to-date information before making any investment decisions. Above results are for only example and education/learning purpose.
Why Gold rates vary from place to place due to following factors:
- Local Demand and Supply: Cities or regions with higher demand for gold jewelry or investment purposes may have slightly higher prices due to increased competition among buyers. Conversely, areas with lower demand might have slightly lower prices as sellers try to attract customers.
- Local Taxes and Duties: Different states or cities may have varying tax structures and import duties on gold, which can affect the final price for consumers.
- Transportation Costs: Gold is a physical commodity that needs to be transported securely. The cost of transportation, including insurance and security, can be added to the gold price, and this can vary depending on the distance and mode of transportation.
- Operational Costs of Jewelers: Jewelers in different areas might have varying operational costs, including rent, labor, and making charges, which they factor into the price of gold jewelry.
- Purity Levels: Gold prices vary depending on their karat value, with higher karat gold commanding higher prices due to its purity. Cities with a preference for purer gold might experience slightly higher prices.
- Local Association Influence: In some regions, local jewelry associations play a role in determining the daily gold rate, taking into account factors like international gold prices, currency fluctuations, and local market conditions.
- Market Competition: The number of jewelers and gold dealers in a particular area can influence prices. More competition can lead to more competitive pricing.
- Making Charges: The intricate designs and craftsmanship involved in making gold jewelry can vary across regions, and these making charges are often included in the final price.
It’s important to note that while these factors can cause variations in gold rates, the differences are usually not significant. Gold prices are largely influenced by global market trends, and local variations are relatively minor in comparison.
About Gold:
Gold is a chemical element with the atomic number 79. It is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal in its purest form.
Gold Properties:
- Noble metal: Gold is relatively unreactive and resistant to corrosion. It does not react with oxygen, so it does not rust or tarnish.
- Malleability and Ductility: Gold is the most malleable and ductile of all known metals. It can be hammered into extremely thin sheets (gold leaf) and drawn into long wires without breaking.
- Conductivity: Gold is an excellent conductor of heat and electricity.
- Density: Gold is a very dense metal. One cubic foot of gold weighs about 1200 pounds (544 kg).
Gold Uses:
- Jewelry: Gold is primarily used for jewelry, accounting for about 50% of global gold demand. It is alloyed with other metals to increase its strength and durability.
- Investment: Gold is a popular investment option due to its value and relative stability. People buy gold bars, coins, or jewelry as a hedge against inflation or economic uncertainty.
- Electronics: Gold is used in electronic connectors, contacts, and printed circuit boards due to its excellent conductivity and resistance to corrosion.
- Dentistry: Gold alloys are used in dentistry for fillings, crowns, bridges, and orthodontic appliances due to their biocompatibility and resistance to corrosion.
- Other uses: Gold is also used in medical devices, aerospace applications, and certain industrial processes.
Gold Karats:
Gold purity is measured in karats. Pure gold is 24 karats, but it is too soft for most jewelry uses. It is alloyed with other metals like silver, copper, and zinc to increase its strength and durability. Common gold karats include 18K (75% gold), 14K (58.3% gold), and 10K (41.7% gold).
Interesting facts about gold:
- The world’s largest gold bar weighs 250 kg (551 lb) and is worth millions of dollars.
- Gold is so malleable that one ounce of gold can be beaten into a sheet that covers 300 square feet.
- The chemical symbol for gold, Au, comes from the Latin word “aurum,” meaning “shining dawn.”
- Gold is not poisonous and can be eaten. Edible gold leaf is sometimes used to decorate food and drinks.
Source: AI, Manual Search, Research & Study