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Gold prices in India edged lower on Friday, coinciding with the festival of Karwa Chauth. The precious metal saw a slight decline, with 24-karat gold priced at Rs 12,229 per gram, down by Rs 186, while 22-karat gold slipped by Rs 170 to Rs 11,210 per gram.

The price of 18-karat gold, often used in lighter jewellery, stood at Rs 9,172 per gram.

Festive Sentiment Amid Price Correction

The marginal fall in gold rates comes on the auspicious occasion of Karwa Chauth, a festival celebrated by married women across India as a symbol of love, devotion, and marital longevity. Traditionally, the day also marks an uptick in gold purchases, with consumers viewing it as an auspicious time to buy the yellow metal.

Gold has long served as a hedge against inflation and continues to attract investor interest as a safe-haven asset, especially during periods of market volatility.

Why Karwa Chauth Is Celebrated

As part of the day-long nirjala (waterless) fast, married women pray for the long life and good health of their husbands. The fast begins before sunrise with the ritual meal known as sargi and concludes after moonrise in the evening.

The festival’s spiritual significance often coincides with increased festive-season demand for gold, particularly for jewellery and gifts.

Gold Prices In Your City

Chennai: In Chennai, 24 karat gold is priced at Rs 12,284 per gram, 22 karat is price at Rs 11,260 per gram, and 18 karat is priced at Rs 9,330 per gram.

Mumbai: In Mumbai, 24 karat gold is priced at Rs 12,229 per gram, 22 karat is priced at Rs 11,210 per gram, and 18 karat is priced at Rs 9,172 per gram.

Delhi: In the national capital the yellow-metal is priced at Rs 12,244 per gram for 24 karat, 22 karat is priced at Rs 11,220 per gram, and 18 karat is priced at Rs 9,187 per gram.

Kolkata: In Kolkata, 24 karat gold is priced Rs 12,229 per gram, 22 karat is priced Rs 11,210 per gram, and 18 karat is at Rs 9,172 per gram.

Bengaluru: In Bengaluru, gold priced are at Rs 12,229 per gram for 24 karat, Rs 11,210 per gram for 22 karat, and Rs 9,172 per gram for 18 karat.

Gold Retains Long-Term Appeal

Despite the modest dip, gold continues to be viewed as a reliable store of value and a preferred investment during India’s festive season. Investors and consumers alike are likely to watch price movements closely as the festival and wedding seasons progress.