New Delhi: The Indian gold market is known for its constant fluctuations, and lately, the trend seems to be leaning towards a dip. If you’ve been eyeing those gold earrings or that shimmering necklace, here’s a detailed breakdown of today’s gold prices (March 19, 2024) to help you make an informed decision:
Good News for Gold Buyers: Prices Dip Across Purities
Today brings a welcome change for gold enthusiasts as prices across various carats have witnessed a decrease. This presents a potential buying opportunity, especially compared to recent highs. Here’s a quick look at the current prices as per India Bullion Jewelers Association (IBJA):
- 24 Carat Gold: Rs 65,296 per 10 grams (decrease from Rs 65,559)
- 22 Carat Gold: Rs 60,052 per 10 grams (decrease)
- 18 Carat Gold: Rs 49,169 per 10 grams (decrease)
- 14 Carat Gold: Rs 38,352 per 10 grams (decrease)
City-Wise Gold Price Comparison (As of March 19, 2024):
Planning to buy gold but unsure about the price variations across cities? We’ve got you covered! Here’s a table outlining the per 10-gram price of 22 carat and 24 carat gold in some major Indian cities:
| City | 22 Carat Gold (₹) | 24 Carat Gold (₹) |
|---|---|---|
| Delhi | 60,730 | 66,240 |
| Mumbai | 60,580 | 66,090 |
| Kolkata | 60,750 | 66,270 |
| Chennai | 61,140 | 66,700 |
| Jaipur | 60,900 | 66,420 |
| Patna | 60,800 | 66,320 |
| Bhubaneswar | 60,750 | 66,270 |
| Hyderabad | 60,750 | 66,270 |
Beyond the Numbers: Factors to Consider Before Buying Gold
While the dip in prices is an attractive proposition, here are some additional factors to ponder before making your gold purchase:
- Market Trends: Analyze past price movements and future predictions. Is this a temporary dip, or is a prolonged downward trend expected?
- Personal Needs: Are you buying for investment purposes, daily wear, or festive occasions? The purpose will influence your choice of carat and design.
- Making Charges: Making charges, which vary from jeweler to jeweler, add to the final price of the gold ornament. Compare charges before finalizing your purchase.
- Hallmarking: Always ensure you buy hallmarked gold, which guarantees its purity.
Gold as an Investment: Pros and Cons
Gold has traditionally been considered a safe haven investment in India. Here’s a quick look at the pros and cons:
Pros:
- Hedge Against Inflation: Gold prices often rise with inflation, protecting the value of your investment.
- High Liquidity: Gold is easily bought and sold, offering high liquidity.
- Cultural Significance: Gold holds immense cultural value in India, making it a good choice for gifting and family heirlooms.
Cons:
- Limited Returns: Gold doesn’t generate regular income like stocks or fixed deposits.
- Storage Costs: Safely storing physical gold might incur locker charges.
Alternatives to Physical Gold:
If you’re hesitant about buying physical gold, consider these alternatives:
- Digital Gold: Invest in digital gold through various platforms, offering easy buying and selling without storage hassles.
- Gold ETFs (Exchange Traded Funds): Invest in gold ETFs that track the price of gold, offering a more diversified investment option.
- Sovereign Gold Bonds: These government-backed bonds offer interest on your investment along with the benefit of gold price appreciation.
