In January 2025, gold rates in India moved between ₹54,000 to ₹62,000 per 10 grams of 24-carat gold. This could be the result of a synergy of international and domestic forces.
Global Factors moving Gold Prices in January 2025
International Commodity Price: The global gold market is one of the biggest influencers of the local price. For January 2025, international gold prices turned rather volatile due to : Geopolitical tensions- The ambiguity of the international political environment leads people to look for safe haven assets, where demand for gold rises as an ideal investment. Variation in US Dollar Value- The variation in the US dollar value works inversely to affect gold prices. In general, the falling US dollar results in rising gold prices.
Interest Rates
Shifts in international interest rates affect the perception of investors toward gold. With lower interest rates, gold appears more attractive as an investment opportunity than interest-yielding instruments. Domestic Factors: Besides the global factors, some domestic factors influenced the prices of gold during January 2024 Festival Season: The price increases during the festival season of Akshaya Tritiya and Dhanteras due to higher demand for gold. Supply and Demand Dynamics: Any disruption in the supply of gold or a sudden increase in domestic demand can result in price increases.
Government Regulations
Import duties by the government can impact the landed cost of gold and hence, the retail price. City-Wise Variations in Gold Prices: Gold rates in the main Indian cities usually have the same pattern but are little different in their own cities depending on the local tax and transport cost. Let’s take a glance at gold rate fluctuations in some major cities during January 2024.
Mumbai: ₹54,000 – ₹62,000 per 10 grams (24-carat)
Delhi: ₹54,800 – ₹62,300 per 10 grams (24-carat)
Kolkata: ₹54,500 – ₹61,800 per 10 grams (24-carat)
Chennai: ₹55,000 – ₹62,500 per 10 grams (24-carat)
Bangalore: ₹54,700 – ₹62,200 per 10 grams (24-carat)
Conclusion
January 2024- A moderate gold price hike has been seen in the country. This came from a global as well as domestic mix. Even though during the festive period, demand surged, the total price range went within a predictible band. One must follow the market and research properly before investing in the yellow metal.
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