Gold Rate Today April 03, 2024

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Overview

Welcome to Bajaj Broking's series on investment insights. Let us delve into the captivating world of gold investment. Gold, revered across cultures and civilizations, has maintained its allure as a symbol of wealth and stability. In this comprehensive overview, we explore the reasons behind the enduring appeal of gold as an investment avenue, the intriguing disparities in today’s gold rates across India, and the key factors driving the fluctuation of gold prices in the market.

Why Invest in Gold: Unveiling the Benefits

Gold has stood the test of time as a reliable investment option, offering a myriad of benefits to investors. Whether you're a seasoned trader or a novice investor, understanding the advantages of incorporating gold into your portfolio is essential.

  • Hedge Against Inflation: Gold has historically served as a hedge against inflation, preserving wealth when fiat currencies depreciate in value.
  • Diversification: Adding gold to your investment portfolio can enhance diversification, mitigating risks associated with market volatility and economic uncertainties.
  • Safe-Haven Asset: During times of geopolitical instability or financial crises, gold often emerges as a safe-haven asset, safeguarding investments against market turbulence.
  • Store of Value: Unlike fiat currencies susceptible to devaluation, gold retains its intrinsic value over time, making it a reliable store of wealth.

Deciphering the Disparities in Gold Rates Across India

One intriguing aspect of gold investment is the notable variation in gold rates observed across different regions of India. While gold prices are influenced by global factors such as international market trends and geopolitical developments, local dynamics also play a significant role in shaping regional disparities in gold rates today.

  • Demand-Supply Dynamics: Variances in demand and supply of gold within specific regions can exert pressure on today’s gold rates. Factors such as cultural traditions, festivals, and occasions influence regional demand for gold, thereby impacting prices.
  • Transportation Costs: The logistical challenges involved in transporting gold from major trading hubs to remote regions contribute to differences in gold rates across India.
  • Taxes and Duties: Varied state-level taxes and duties imposed on gold transactions further contribute to the variation in gold rates observed across different states.

Navigating the Fluctuations in Gold Rates: Key Insights

The fluctuation of daily gold rates is an intrinsic aspect of the dynamic nature of financial markets. Understanding the primary drivers behind these fluctuations empowers investors to make informed decisions and capitalise on market opportunities.

  • Global Economic Indicators: Macroeconomic indicators such as interest rates, inflation rates, and currency movements exert a significant influence on gold prices. Economic data releases and central bank policies play a crucial role in shaping investor sentiment towards gold.
  • Geopolitical Uncertainties: Political tensions, conflicts, and geopolitical developments can trigger flight-to-safety flows into gold, leading to price spikes. Investors closely monitor geopolitical events for potential impacts on gold prices.
  • Market Sentiment and Speculation: Sentiment-driven factors such as investor sentiment, market speculation, and trading activity in derivative markets contribute to short-term fluctuations in gold prices. Psychological factors often drive volatility in gold markets, creating trading opportunities for astute investors.

Gold Rates Today

Delhi

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Purity and WeightPrice Today (date)Price Yesterday (date)Difference
22K (10 gm)₹ 64,874.00₹ 64,090.00+784.00
24K (10 gm)₹ 70,823.00₹ 69,968.00+855.00

Mumbai

Purity and WeightPrice Today (date)Price Yesterday (date)Difference
22K (10 gm)₹ 64,810.00₹ 64,782.00+28.00
24K (10 gm)₹ 70,754.00₹ 70,723.00+31.00

Kolkata

Purity and WeightPrice Today (date)Price Yesterday (date)Difference
22K (10 gm)₹ 64,495.00₹ 64,090.00+405.00
24K (10 gm)₹ 70,409.00₹ 69,968.00+441.00

Hyderabad

Purity and WeightPrice Today (date)Price Yesterday (date)Difference
22K (10 gm)₹ 64,242.00₹ 63,964.00+278.00
24K (10 gm)₹ 70133.00₹ 69,830.00+303.00

Gold Rates in Different Cities in India

Gold Rate Table (Rate in ₹/10gm)
CityGold Rate for 22KGold Rate for 24K
Ahmedabad₹64,179₹70,064
Amritsar₹63,484₹69,306
Bangalore₹64,242₹70,133
Bhopal₹65,063₹71,030
Bhubaneswar₹63,547₹69,375
Chandigarh₹63,484₹69,306
Chennai₹64,621₹70,547
Coimbatore₹63,926₹69,789
Delhi₹64,874₹70,823
Faridabad₹64,874₹70,823
Gurgaon₹64,874₹70,823
Hyderabad₹64,242₹70,133
Jaipur₹64,116₹69,995
Kanpur₹64,052₹69,926
Kerala₹63,610₹69,444
Kochi₹63,610₹69,444
Kolkata₹64,495₹70,409
Lucknow₹64,052₹69,926
Madurai₹63,863₹69,720
Visakhapatnam63,27269,075

Note: The gold rates mentioned in the above tables have been taken as of 03 April, 2024 at 09:54 AM

Popular Alternatives to Physical Gold

While physical gold remains a timeless investment choice, exploring alternative avenues can offer investors greater flexibility and efficiency in managing their portfolios. Let's delve into popular alternatives to physical gold, with a spotlight on virtual gold, Exchange-Traded Funds (ETFs), Mutual Funds (MFs), and Sovereign Gold Bonds (SGBs).

The Benefits of Virtual Gold: Embracing Digital Convenience

Virtual gold, also known as digital or paper gold, presents a modern and convenient approach to gold investment. Through digital platforms and applications, investors can access fractional ownership of gold without the logistical constraints associated with physical possession.

  • Accessibility and Affordability: Virtual gold enables investors to purchase gold in smaller denominations, making it accessible to a broader range of investors with varying budgetary constraints.
  • Security and Transparency: Digital gold platforms offer enhanced security measures and transparent pricing mechanisms, providing investors with peace of mind and confidence in their investments.
  • Liquidity and Flexibility: Unlike physical gold, which requires physical storage and transportation, virtual gold can be easily bought, sold, or traded online, offering investors greater liquidity and flexibility.

Exchange-Traded Funds (ETFs): Harnessing the Power of Market Efficiency

ETFs represent a popular investment vehicle for gaining exposure to gold prices without the complexities associated with owning physical gold. These funds are traded on stock exchanges, offering investors a cost-effective and efficient way to invest in gold.

  • Diversification: Gold ETFs provide investors with diversified exposure to the gold market, spreading risk across multiple gold assets and reducing concentration risk associated with individual holdings.
  • Transparency and Liquidity: ETFs offer real-time pricing and high liquidity, allowing investors to buy or sell shares throughout the trading day at prevailing market prices.
  • Cost Efficiency: With lower expense ratios compared to actively managed funds, gold ETFs offer cost-effective access to gold investment opportunities.

Mutual Funds: Professional Management for Optimal Returns

 

Mutual funds offer investors access to professionally managed portfolios of gold-related assets, including gold bullion, mining stocks, and related securities. These funds pool resources from multiple investors to achieve economies of scale and diversification benefits.

  • Professional Management: Mutual funds are managed by experienced fund managers who employ sophisticated investment strategies to maximise returns while managing risks.
  • Diversification and Risk Management: Mutual funds diversify investments across a range of gold-related assets, reducing the impact of individual security risk and market volatility.
  • Accessibility: Mutual funds offer investors the opportunity to participate in the gold market with relatively low initial investment amounts, making them accessible to a wide range of investors.

Sovereign Gold Bonds (SGBs): Uniting Security with Sovereignty

Sovereign Gold Bonds issued by the Government of India offer a unique investment proposition, combining the allure of gold with the security of sovereign backing. These bonds allow investors to participate in the potential appreciation of gold prices while earning fixed interest income.

  • Safety and Security: SGBs are issued by the government, providing investors with the assurance of sovereign backing and repayment guarantees, mitigating credit risk associated with other investment options.
  • Interest Income: In addition to capital appreciation potential, SGBs offer investors fixed interest income at regular intervals, enhancing the overall return profile of the investment.
  • Tax Benefits: SGBs offer tax benefits such as exemption from capital gains tax on redemption and indexation benefits for long-term capital gains, making them a tax-efficient investment choice.

This table provides a concise overview of the key features and advantages of Gold ETFs, Sovereign Gold Bonds, and Mutual Funds as alternative investment choices in the gold market.

Investment Options Comparison
Investment OptionFeaturesAdvantages
Gold ETFsEfficient, cost-effective access to gold pricesHigh liquidity, transparency, real-time pricing
Sovereign Gold BondsSafety, security, fixed interest income with government backingTax benefits, exemption from capital gains tax
Mutual FundsProfessional management, diversified exposureAccessible, risk management, economies of scale

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What should investors consider before buying gold in India?

Answer Field

Investors should assess their investment objectives, risk tolerance, and the prevailing market conditions before buying gold, considering factors like purity, pricing, and storage options.

Are gold rates in India affected by the strength of the Indian rupee?

Answer Field

Yes, the strength or weakness of the Indian rupee against major currencies like the US dollar can influence gold prices in India, as gold is traded internationally in US dollars.

How do fluctuations in the global economy impact gold rates in India?

Answer Field

Economic uncertainties, inflation, interest rates, and geopolitical tensions on a global scale can influence investor sentiment towards gold, impacting its prices in India.

Do festivals and weddings affect gold rates in India?

Answer Field

Yes, festivals and wedding seasons typically drive up demand for gold in India, leading to short-term price increases due to higher consumer buying activity.

What role do government policies play in influencing gold rates in India?

Answer Field

Government policies such as import duties, GST rates, and regulations on gold imports can impact domestic gold prices by affecting supply and demand dynamics.

How can I track gold rates in India?

Answer Field

You can monitor gold rates through broking platforms, financial news websites, dedicated gold price tracking apps, or by contacting local jewellers and bullion dealers.

How often do gold rates change during the day?

Answer Field

Gold rates can change multiple times a day, reflecting real-time market conditions and fluctuations in international gold prices.

What are the primary factors influencing fluctuations in gold rates?

Answer Field

Global economic indicators, geopolitical tensions, currency movements, and supply-demand dynamics are key factors driving fluctuations in gold rates.

Why do gold rates vary across different cities in India?

Answer Field

Gold rates fluctuate due to factors like local demand, transportation costs, and regional taxes, causing variations in prices across cities.

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