Gold Rates: 5 factors that affect prices in India

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Gold rates in India

In a day of varying patterns, the price of gold in India remained stable, with the fundamental rate for 10 grams being around Rs 70,000. 

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Global market trends

The gold market influences the gold rate in India. When international markets are unstable, investors frequently gravitate to gold as a safe-haven asset, driving up its value. 

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Local demand and supply

Demand for gold jewellery during festivals and weddings can generate variations in the gold price. Supply disruptions or increases in import levies might impact local gold prices.

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International gold prices

Global tensions, economic uncertainty, fluctuations in the value of the US dollar, and central bank policies affect the overall sentiment in the gold market.

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Import Duties and Taxes

Government policies related to import duties, taxes, and regulations on gold imports directly impact its price in India. 

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Currency Exchange Rates

The value of the Indian rupee in major international currencies, especially the US dollar, has a significant impact on the price of gold in India. 

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