Gold Rate Today in Dubai, USA, India, Singapore

On December 2, 2022, the gold rate in India for both 22 and 24 carat  have significantly increased. 10 grams of 24 carat gold priced at Rs 53,730 in India, while 10 grams of 22 carat gold cost Rs 49,250. Whereas the silver prices dipped to Rs 61,400.

The dollar’s decline on hopes that the US Federal Reserve will slow the pace of interest rate hikes helped gold prices, which were flat on December 2 in the international markets, have their best week in three weeks ahead of the US jobs report.

As of 00:37 GMT, spot gold rate was little changed at $1,800.78 per ounce after earlier in the session reaching its highest level since August 10. At $1,814.60, US gold futures were stable.

⚠️Market Alert:
The #Gold price jumps 1.6%, breaking the symbolic $1,800 per ounce level, for the first time in 5 months pic.twitter.com/nPjLv7Dvzh

— Goldavenue EN (@GoldavenueEN) December 1, 2022

Gold price in India

Gold was the most expensive in Chennai, South India, with a price of Rs 53,880 for the 24-carat variety and Rs 49,400 for the 22-carat variety. In Delhi, 24-carat gold rate was Rs 53,780 per 10 grammes, while 22-carat gold rate was Rs 49,300. Gold rate in Bengaluru were Rs 53,730 for 24-carat gold and Rs 49,250 for 22-karat gold. The yellow metal costs the same in Kolkata, Hyderabad, and Mumbai. Ten grammes of 22-carat gold cost Rs 49,250, while the same amount of 24-carat gold cost Rs 53.730.

Gold Price in USA

Gold prices were flat on Friday, but they were on track for their best week in three ahead of the US jobs report, aided by the dollar’s decline on expectations that the US Federal Reserve will slow the pace of interest rate hikes.

Spot gold was little changed at $1,800.78 per ounce at 0037 GMT, having reached its highest level since August 10 earlier in the session. US gold futures GCv1 remained unchanged at $1,814.60.

Gold Price in Singapore

The current 24kt gold price per gramme in Singapore is SGD 78.233, while the current 22kt gold price per gramme in Singapore is SGD 71.688.

Gold Price in Dubai

After skyrocketing on Tuesday, the price of gold in Dubai is now significantly lower. 24 Karat Gold: At the start of the markets, the 24K gold rate in the Dubai remained stable at Dh212.25 per gramme. 22K, 21K, and 18K carat gold: 22K, 21K, and 18K carat gold rate were trading slightly higher at Dh199.5, Dh190.25, and Dh163.25 per gramme, respectively.

Conclusion

Gold is used as an asset class to diversify one’s investment portfolio and as a hedge against long-term inflation. Many experts advise against increased gold accumulation and recommend keeping exposure to 5-10% of the total portfolio. Because a price drop cannot be ruled out in the near future, it is best to buy gold in stages.

Also Read: Check Yellow Metal Latest Price In India, Dubai, Singapore, USA

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