Gold Prices in India Rise Slightly on December 30-2024

Gold prices in India experienced a slight uptick today, as compared to their prices on Saturday and Sunday. Although there is a slight upward movement, gold price today is similar to its price on Friday, 27 December. On Monday, December 30, the price of 24K gold in India was ₹7,800/ gm while 22K gold was ₹7,150/ gm as of 11:28 AM. 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 Across Cities on 30th December 2024 (11:28 AM)

Gold Rates Across Major Cities on 30th December 2024: As of December 30, 2024, gold prices have seen a moderate rise. The price of 22-carat gold has increased by ₹15, while 24-carat gold is up by ₹16 compared to yesterday. Gold price on Sunday, December 29 was ₹7,135/ gm for 22K gold and ₹7,784/ gm for 24K gold. 

• Gold Price Today in Mumbai: The price of gold in Mumbai today is ₹7,150 per gram for 22-carat gold and ₹7,800 per gram for 24-carat gold. As a major hub for gold trading, Mumbai often influences gold price trends across the country.
• Gold Price Today in Chennai: In Chennai, gold prices are ₹7,150 per gram for 22K gold and ₹7,800 per gram for 24K gold. The city’s cultural affinity for gold creates a growing market.
• Gold Price Today in Bangalore: Gold prices in Bangalore today are ₹7,150 per gram for 22-carat gold and ₹7,800 per gram for 24-carat gold, mirroring national price trends.
• Gold Price Today in Hyderabad: Hyderabad’s gold prices are ₹7,150 per gram for 22-carat gold and ₹7,800 per gram for 24-carat gold, aligning closely with other metro cities.
• Gold Price Today in Lucknow: In Lucknow, gold prices are slightly higher, with 22-carat gold priced at ₹7,165 per gram and 24-carat gold at ₹7,815 per gram.
• Gold Price Today in Delhi: The gold rates in Delhi today are ₹7,165 per gram for 22-carat gold and ₹7,815 per gram for 24-carat gold, potentially reflecting both domestic and international market influences.

Recent Gold Price Trends

Gold prices have been showing more or less an upward trend over the past few days, with minor fluctuations. The price of 22-carat gold today increased by ₹15 to reach ₹7,150 per gram, while 24-carat gold saw a rise of ₹16, priced at ₹7,800 per gram. On December 29, 22K gold was ₹7,135 per gram and 24K gold stood at ₹7,784 per gram.  

Earlier in the week, on December 27, gold prices also experienced a modest uptick, with 22K gold rising by ₹25 and 24K gold by ₹27 compared to the previous day. On that date, 22K gold was ₹7,150 per gram, and 24K gold was ₹7,800 per gram.  

In December, the highest gold prices were recorded on December 11, with 22K gold reaching ₹7,285 per gram and 24K gold hitting ₹7,947 per gram. Conversely, the lowest prices of the month were observed on December 20, when 22K gold was ₹7,040 per gram and 24K gold stood at ₹7,680 per gram.  

This fluctuating trend reflects the dynamic nature of gold prices, which may be driven by various factors like global market conditions and demand patterns.

Key Factors Influencing Gold Prices

Several factors have impacted gold prices in 2024 and are expected to continue influencing trends in 2025. Central bank policies have been a significant driver, with many easing interest rates. The US Federal Reserve, for instance, executed three rate cuts in 2024 and plans two more in 2025, boosting gold's attractiveness. Geopolitical tensions, including global conflicts and changes in US tariff policies, have reinforced gold's position as a preferred safe-haven investment. Moreover, ongoing inflation concerns, especially in the United States, have heightened demand for gold as a dependable hedge against economic instability.

In Conclusion

Gold prices in India today, i.e. on December 30, 2024, have seen a modest increase, potentially reflecting the dynamic nature of the market. The prices of 22K and 24K gold remain consistent across major cities, with slight variations in cities like Lucknow and Delhi. As we move into 2025, the key drivers of gold price movements, including global economic factors, central bank policies, and geopolitical tensions, are likely to continue influencing trends. For investors and gold enthusiasts alike, keeping an eye on these factors will be essential.