Gold prices in India on January 8.Image Source : FILE

Gold price today January 8: Check latest rates in Delhi, Chennai, Mumbai, Kolkata and other major cities

Gold prices are influenced by various factors, including global economic conditions, currency exchange rates, and geopolitical developments. Scroll down to check the latest city-wise gold prices in India.

by · India TV

Gold prices in India remained stable on Wednesday, with no change recorded in the rates of both 24-carat and 22-carat gold. As of January 8, the price of 24-carat gold stands at Rs 78,870.3 per 10 grams, while 22-carat gold is priced at Rs 72,310.3 per 10 grams.

Despite the stability observed on Wednesday, the market has seen slight fluctuations over the past week. The price of 24-carat gold registered a decline of 0.87% over the last seven days. On a monthly basis, the reduction in gold prices stands at 1.15%, reflecting a downward trend in the broader market.

Analysts predict that gold may continue to see moderate fluctuations in early 2025, with its safe-haven status keeping it in demand among investors amid uncertainties in global markets. 

Check gold prices in different cities on January 8, 2024:

CITY22 Carat Gold Rate (Per 10 gm)24 Carat Gold Rate (Per 10 gm)
DelhiRs 72,290Rs 78,850
MumbaiRs 72,140Rs 78,700
KolkataRs 72,140Rs 78,700
ChennaiRs 72,140Rs 78,700
AhmedabadRs 72,190Rs 78,750
PuneRs 72,290Rs 78,700
LucknowRs 72,290Rs 78,850
BengaluruRs 72,140Rs 78,700
PatnaRs 72,190Rs 78,750
HyderabadRs 72,140Rs 78,700

Why does the price of gold fluctuate? 

The price of gold fluctuates due to a variety of factors, including insights from esteemed jewellers. Key influences include global demand for gold, exchange rate fluctuations, prevailing interest rates, and government regulations governing gold trading. Additionally, international events such as the overall state of the global economy and the strength of the US dollar relative to other currencies significantly affect gold prices in the Indian market.