Gold Price Update for October 17: Discover 18K, 22K, and 24K Rates Across Chennai, Mumbai, Delhi, and Kolkata
Gold prices in India have surged as of October 17, reflecting a growing demand for the precious metal. This increase coincides with significant cultural events such as Dhanteras and Diwali, wherein gold is traditionally purchased.
Current Gold Prices Across Major Cities
As of today, the rates for gold across major Indian cities are as follows:
| Gold Purity | Price per Gram (INR) | Price Increase (INR) |
|---|---|---|
| 24K | ₹13,277 | ₹333 |
| 22K | ₹12,170 | ₹305 |
| 18K | ₹9,958 | ₹250 |
Factors Influencing Gold Prices
The continuing rise in gold prices is primarily due to investor interest in safe-haven assets. Concerns regarding economic volatility, including possible US government shutdowns, have heightened demand for gold.
Gold as an Inflation Hedge
Gold is widely viewed as a reliable hedge against inflation, making it a preferred choice for many investors during uncertain times. The different purities cater to both investment and jewelry needs:
- 24K Gold: Most expensive, ideal for investments.
- 22K Gold: Popular for jewelry, provides a balance of affordability and value.
- 18K Gold: Commonly used in jewelry, offers durability and aesthetic appeal.
As celebrations approach, prices are likely to continue fluctuating. Buyers should stay informed about current trends to make educated purchasing decisions.
