Gold Price Today on 27th December 2024 Across Major Cities

Continuing yesterday’s trend, gold prices in India experienced a slight uptick today. On December 27, 2024 (at 12:17 pm), the price of 24K gold in India was ₹7,800/ gm while 22K gold was ₹7,150/ gm. In this article, we look at the gold prices today in cities such as Mumbai, Chennai, Bangalore, Hyderabad, Lucknow, and Delhi as well as the primary drivers of these movements.

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Gold Rates on 27th December 2024 

Gold Rates Across Major Cities on 27th December 2024: As of December 27, 2024, gold prices have seen a modest rise. The price of 22-carat gold has increased by ₹25, while 24-carat gold is up by ₹27 compared to yesterday. Notably, a similar price hike was observed yesterday as well.

• Gold Price Today in Mumbai: The gold price in Mumbai today is ₹7,150 per gram for 22-carat gold and ₹7,800 per gram for 24-carat gold. As a leading gold trading center, Mumbai may often influence gold price trends across India.
• Gold Price Today in Chennai: Chennai’s gold prices today are ₹7,150 per gram for 22K gold and ₹7,800 per gram for 24K gold. The city’s rich cultural heritage and demand for gold creates an active and vibrant market.
• Gold Price Today in Bangalore: In Bangalore, the price of 22-carat gold stands at ₹7,150 per gram, while 24-carat gold is priced at ₹7,800 per gram. The city’s gold market reflects national trends.
• Gold Price Today in Hyderabad: Hyderabad reports gold prices at ₹7,150 per gram for 22-carat gold and ₹7,800 per gram for 24-carat gold. Gold prices in this city align closely with other major metros.
• Gold Price Today in Lucknow: Gold prices in Lucknow are slightly higher today, with 22-carat gold priced at ₹7,165 per gram and 24-carat gold at ₹7,815 per gram. 
• Gold Price Today in Delhi: In Delhi, the current gold rates are ₹7,165 per gram for 22-carat gold and ₹7,815 per gram for 24-carat gold. As the nation’s capital, Delhi’s gold prices generally reflect both domestic and global market movements.
   

2024 Trends in Gold Prices

Gold prices in India have trended downward for most of December but have risen modestly over the past two days. Despite this fluctuation, gold has been a standout performer in 2024, achieving a remarkable 27% gain. The highest rates this month were seen on December 11, with 22K gold priced at ₹7,285 per gram and 24K gold at ₹7,947 per gram. The lowest rates were recorded on December 20, at ₹7,040 per gram for 22K gold and ₹7,680 per gram for 24K gold.

Key Factors Influencing Gold Prices

Several key factors have influenced gold prices in 2024 and are likely to shape trends in 2025. Monetary policy played a significant role, with central banks worldwide easing rates. The US Federal Reserve implemented three rate cuts in 2024, with two additional cuts planned for 2025, enhancing gold's appeal. Geopolitical risks, including ongoing global conflicts and shifting US tariff policies, have further solidified gold's status as a safe-haven asset. Additionally, persistent inflation concerns, particularly in the US, have driven increased demand for gold as a reliable hedge against economic uncertainties.

In Conclusion

Gold is widely regarded as a dependable investment during periods of economic instability and global uncertainty. This year, the precious metal has delivered strong overall performance. Whether you are in Chennai, Mumbai, Bangalore, Hyderabad, Lucknow, or Delhi, keeping track of today’s gold prices is essential for making informed and strategic investment choices.