Gold is one of the most precious metals in the world, and its price is influenced by various factors such as demand and supply, inflation, interest rates, geopolitical events, and market sentiment. Gold is also considered a safe haven asset, which means that investors tend to buy it when there is uncertainty or volatility in the financial markets. In this blog post, we will explore how the gold rate today affects the stock market, especially the Indian stock market, which is represented by indices such as All Indices (Bank Nifty), Nifty 50, and Share Price Today.
The relationship between gold and the stock market is not straightforward, as it depends on the prevailing economic and market conditions. Sometimes, gold and the stock market move in the same direction, and sometimes they move in opposite directions. Generally speaking, when the economy is doing well and the stock market is bullish, the demand for gold tends to decrease, as investors prefer to invest in riskier assets that offer higher returns. This leads to a fall in the gold rate today. On the other hand, when the economy is facing a slowdown or a recession and the stock market is bearish, the demand for gold tends to increase, as investors seek to preserve their wealth and hedge against inflation and currency depreciation. This leads to a rise in the gold rate today.
However, there are exceptions to this general trend, as gold and the stock market can also move in the same direction under certain circumstances. For instance, when there is a global crisis or a war that threatens the stability of the world order, both gold and the stock market can rise, as investors look for safe and liquid assets that can retain their value. Similarly, when there is a surge in liquidity or a stimulus package that boosts the economic growth and consumer spending, both gold and the stock market can fall, as investors shift their funds from defensive to cyclical sectors that benefit from the economic recovery.
What is the Gold Rate Today?
The gold rate today (4th Feb 2024) is ₹ 5,810 per gram for 22 karat gold and ₹ 6,338 per gram for 24 karat gold (also called 999 gold). The 22 karat gold is also known as 916 gold, as it contains 91.6% pure gold and 8.4% other metals, such as silver, copper, zinc, etc. The 24 karat gold is the purest form of gold, containing 99.9% pure gold and no other metals.
The gold rate today varies from city to city, depending on the local market factors. Here are some of the major cities and their gold rates today (per 10 grams) for 22 karat and 24 karat gold:
| City | 22K Today | 24K Today |
| Chennai | ₹ 58,700 | ₹ 64,040 |
| Mumbai | ₹ 58,100 | ₹ 63,380 |
| Delhi | ₹ 58,250 | ₹ 63,530 |
| Kolkata | ₹ 58,100 | ₹ 63,380 |
| Bangalore | ₹ 58,100 | ₹ 63,380 |
| Hyderabad | ₹ 58,100 | ₹ 63,380 |
| Kerala | ₹ 58,100 | ₹ 63,380 |
| Pune | ₹ 58,100 | ₹ 63,380 |
| Vadodara | ₹ 58,150 | ₹ 63,430 |
| Ahmedabad | ₹ 58,150 | ₹ 63,430 |
In conclusion, the gold rate today has a complex and dynamic relationship with the stock market, and it can affect the performance of different indices, sectors, and stocks in different ways. Therefore, investors should keep an eye on the gold rate today and its impact on the stock market, and adjust their portfolio allocation and strategy accordingly.
