Current Gold Price in India (28th June 2023)

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Current Gold Price in India (28th June 2023)

Gold has always been a reliable hedge against inflation, making it a popular investment choice for many investors. If you’re interested in knowing the latest gold prices in India, you’ve come to the right place. Goodreturns (OneIndia Money) is here to provide you with up-to-date and accurate information about gold prices in India.

As of June 28, 2023, the price of gold in India is ₹5,405 per gram for 22-carat gold, while for 24-carat gold, also known as 999 gold, the price is ₹5,896 per gram.

Let’s take a closer look at the gold rates for different quantities:

Today’s 22 Carat Gold Price Per Gram in India (INR)

  • 1 gram: ₹5,405 (Decreased by ₹30 compared to yesterday)
  • 8 grams: ₹43,240 (Decreased by ₹240 compared to yesterday)
  • 10 grams: ₹54,050 (Decreased by ₹300 compared to yesterday)
  • 100 grams: ₹5,40,500 (Decreased by ₹3,000 compared to yesterday)

Don’t forget to check today’s silver rate as well!

Today’s 24 Carat Gold Rate Per Gram in India (INR)

  • 1 gram: ₹5,896 (Decreased by ₹22 compared to yesterday)
  • 8 grams: ₹47,168 (Decreased by ₹176 compared to yesterday)
  • 10 grams: ₹58,960 (Decreased by ₹220 compared to yesterday)
  • 100 grams: ₹5,89,600 (Decreased by ₹2,200 compared to yesterday)

Please note that the above gold rates are indicative and do not include GST, TCS, and other levies. For the exact rates, it is always advisable to contact your local jeweler.

Gold Rates in Major Indian Cities Today

If you’re looking for gold rates in specific cities across India, here are the rates for some major cities:

  • Chennai: 22K – ₹54,460 | 24K – ₹59,410
  • Mumbai: 22K – ₹54,050 | 24K – ₹58,960
  • Delhi: 22K – ₹54,200 | 24K – ₹59,110
  • Kolkata: 22K – ₹54,050 | 24K – ₹58,960
  • Bangalore: 22K – ₹54,050 | 24K – ₹58,960
  • Hyderabad: 22K – ₹54,050 | 24K – ₹58,960
  • Kerala: 22K – ₹54,050 | 24K – ₹58,960
  • Pune: 22K – ₹54,050 | 24K – ₹58,960
  • Vadodara: 22K – ₹54,100 | 24K – ₹59,010
  • Ahmedabad: 22K – ₹54,100 | 24K – ₹59,010

Please note that these rates may vary slightly based on the local market conditions.

Gold Rates in Major Countries Today

For those interested in gold rates outside of India, here are the rates in some major countries:

  • Bahrain: 22K – BHD225 | 24K – BHD238
  • Kuwait: 22K – KWD184 | 24K – KWD194.50
  • Malaysia: 22K – MYR2,870 | 24K – MYR3,010
  • Qatar: 22K – QAR2,640 | 24K – QAR2,790
  • Saudi Arabia: 22K – SAR214 | 24K – SAR226
  • UAE: 22K – AED209 | 24K – AED221
  • United Kingdom: 22K – GBP46.10 | 24K – GBP48.80
  • United States: 22K – USD1,433 | 24K – USD1,515

Please note that these rates are based on the international market prices and may vary slightly based on the local market conditions and currency exchange rates.

Factors Influencing Gold Prices

Gold prices are influenced by various factors that can cause fluctuations in the market. Some of the key factors include:

  1. Global Economic Conditions: Gold is often considered a safe-haven asset during times of economic uncertainty. Economic events such as inflation, recession, geopolitical tensions, and fluctuations in currency values can impact the demand for gold and subsequently its price.
  2. Interest Rates: Gold prices have an inverse relationship with interest rates. When interest rates are low, the opportunity cost of holding gold decreases, making it more attractive for investors. Conversely, when interest rates rise, investors may prefer interest-bearing assets over non-interest-bearing gold, leading to a decrease in demand and potentially lower prices.
  3. Currency Fluctuations: Gold prices are typically quoted in US dollars. Therefore, fluctuations in currency exchange rates can affect the price of gold in different countries. A stronger local currency can make gold relatively cheaper, leading to increased demand.
  4. Central Bank Policies: Central banks, especially those of major economies, can influence gold prices through their monetary policies. Actions such as quantitative easing or tightening, gold reserves management, and interest rate decisions can impact the gold market.
  5. Investor Sentiment and Demand: Investor sentiment and market speculation can significantly impact short-term gold prices. Large-scale buying or selling by institutional investors, hedge funds, and retail investors can create volatility in the market.
  6. Jewelry and Industrial Demand: Gold is not only an investment asset but also widely used in the jewelry and industrial sectors. Fluctuations in demand from these sectors, influenced by factors such as consumer preferences, economic growth, and technological advancements, can affect the overall demand for gold and its price.

It’s important to note that predicting the future movement of gold prices is challenging as it depends on multiple dynamic factors. Therefore, it is advisable to stay updated with the latest market trends and consult financial experts before making any investment decisions.

DISCLAIMER: The gold rates mentioned in this article are for informational purposes only and may not reflect the actual prices at which gold is traded. The prices mentioned are based on the available data at the time of writing and are subject to change. For accurate and real-time gold prices, it is recommended to refer to reliable sources or consult with authorized dealers.

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