GOLD PRICE TODAY IN DIFFERENT CITIES.REASON BEHIND THE RISE IN PRICE :
Today gold price in Bhubaneswar is ₹9,571 per gram for 24 carat gold and ₹9,115 per gram for 22 carat gold. This information is specific to today's date April 29,2025.
* 24 Carat Gold : ₹9,571 per gram, ₹95,710 per 10 grams.
*22 Carat Gold :₹9.115 per gram ,₹91,150 per 10 grams.
On April 22,2025, gold briefly surpassed the Rs 1 lakh mark for the first time in India. As Akshaya Tritiya approaches yesterday ,which is considered an auspicious occasion to buy gold in India.
Reason why gold prices are rising:
According to experts, gold prices are rising due to geopolitical and US President Donald Trump's unpredictable actions of imposing reciprocal tariffs on countries. Several factors drive the increase in gold prices which are explain below -
1.Economic Uncertainty:
During periods of economic instability, such as recession or financial crises, investors often turn to gold as a safe haven asset. This increased demand for gold drives its prices higher, as people seek security amid unpredictable market conditions.
2.Geopolitical tension:
Event such as wars, international conflicts or political instability can lead to uncertainty in global markets.In such situations, gold become a preferred investment, as it tends to retain its value when traditional financial system falter.
3. Inflation hedge:
As inflation rises, the value of paper currency declines, reducing purchasing Power. Gold, however, holds its value over time, making it an attractive hedge against inflation. Investors flock to gold to protect their wealth, pushing prices upward.
4. Weakening Currency :
When the value of the local currency weakens, gold prices tend to increase. A depreciating currency makes gold more expensive to purchase, especially in countries that rely on gold imports, like India.
Different city have different price of Gold:
One of the primary reasons for variations in gold rates is the difference in local taxes and duties imposed by state governments .The price of gold varies slightly across different cities in India. For 24 carat gold, Bhubaneswar,Kolkata,Mumbai, Pune and Bangalore are all around ₹97,540 per 10 grams, while Chennai is around ₹97,541 and Delhi is ₹97,693.
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