Gold Price Today: 1 kg Gold Price in India (USD)
Gold is traded globally and its price is typically quoted in US dollars per troy ounce. To determine the price per kilogram, we convert the price from per ounce to per kilogram. There are approximately 32.1507 troy ounces in a kilogram, so the current rate of USD 1,975 per ounce translates to USD 63,500 per kilogram.
Factors Influencing Gold Prices:
Global Economic Conditions: Economic stability or instability can greatly impact gold prices. In times of economic uncertainty or inflation, gold is often viewed as a safe-haven asset, leading to increased demand and higher prices.
Currency Fluctuations: Since gold is priced in US dollars, fluctuations in the value of the dollar can impact the price of gold in other currencies. A stronger dollar generally means lower gold prices, while a weaker dollar can lead to higher prices.
Market Demand: The demand for gold in various sectors, including jewelry, technology, and investment, affects its price. High demand from these sectors can push prices up, while reduced demand can have the opposite effect.
Geopolitical Events: Political instability, conflicts, and other geopolitical events can drive investors towards gold as a safer investment, which can lead to price increases.
Supply and Mining Costs: The costs associated with gold mining and the availability of gold can influence prices. Lower supply or increased mining costs can drive prices up.
Historical Price Trends:
Gold prices have seen significant fluctuations over the years. For instance, in 2020, gold prices surged to record highs due to the COVID-19 pandemic and economic uncertainties. Prices have generally been on an upward trend, reflecting increased investor interest and macroeconomic factors.
Gold Price Data Table:
| Date | Price per Ounce (USD) | Price per Kilogram (USD) |
|---|---|---|
| Aug 27, 2024 | 1,975 | 63,500 |
| Aug 26, 2024 | 1,970 | 63,290 |
| Aug 25, 2024 | 1,960 | 62,935 |
| Aug 24, 2024 | 1,955 | 62,715 |
| Aug 23, 2024 | 1,950 | 62,500 |
Conclusion:
Today, the price of 1 kilogram of gold in India stands at approximately USD 63,500. This price is influenced by a complex interplay of global economic conditions, currency fluctuations, market demand, geopolitical events, and supply factors. Investors and consumers alike should consider these variables when tracking gold prices or making investment decisions.
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