Gold Price in India
Gold Rate Today in India
| Gold Rate | Gold Rate In Bangalore | Gold Rate In Chennai | Gold Rate In Delhi | Gold Rate In Hyderabad | Gold Rate In Mumbai |
|---|---|---|---|---|---|
| 22 Carat | ₹58,500 | ₹47,927 | ₹58,650 | ₹58,500 | ₹58,500 |
| 24 Carat | ₹63,820 | ₹52,285 | ₹63,970 | ₹63,820 | ₹63,820 |
If you’re considering investing in gold or purchasing gold jewelry for personal use, it’s essential to gather relevant information before making your decision. Here, you’ll find the most recent prices for 24-carat and 22-carat gold in India, allowing you to compare them and make an informed choice. As of today, the gold rate in India is ₹62,620 per 10 grams for 24 Carat and ₹57,360 for 22 Carat. These prices have been updated today and align with industry standards.
24 Carat Gold Price in India Today
| Gram | 22K Gold Price | Daily Price Change |
|---|---|---|
| ₹ 5,736 | ₹ 0 | |
| ₹ 45,888 | ₹ 0 | |
| ₹ 57,360 | ₹ 0 | |
| ₹ 5,73,600 | ₹ 0 |
| Date | Pure Gold (24K) | Standard Gold (22K) | % Change |
|---|---|---|---|
| ₹ 62,620 | ₹ 57,360 | 0% | |
| ₹ 62,620 | ₹ 57,360 | 0% | |
| ₹ 62,620 | ₹ 57,360 | +0.02% | |
| ₹ 62,610 | ₹ 57,350 | -0.05% | |
| ₹ 62,650 | ₹ 57,380 | +0.26% | |
| ₹ 62,480 | ₹ 57,230 | -0.05% | |
| ₹ 62,510 | ₹ 57,260 | -1.00% | |
| ₹ 63,140 | ₹ 57,840 | 0% | |
| ₹ 63,140 | ₹ 57,840 | 0% | |
| ₹ 63,140 | ₹ 57,840 | +0.59% | |
| ₹ 62,780 | ₹ 57,500 | +0.14% | |
| ₹ 62,680 | ₹ 57,420 | +0.12% | |
| ₹ 62,610 | ₹ 57,350 | +0.16% | |
| ₹ 62,520 | ₹ 57,260 | +0.32% | |
| ₹ 62,310 | ₹ 57,080 | 0% |
Gold Price Today in Major Cities of India
| City | 24 Carat Gold Rate (10 grams) | 22 Carat Gold Rate (10 grams) |
|---|---|---|
Ahmedabad | ₹ 63,870 | ₹ 58,550 |
Amritsar | ₹ 52,200 | ₹ 47,850 |
Bangalore | ₹ 63,820 | ₹ 58,500 |
Bhopal | ₹ 52,200 | ₹ 47,850 |
Bhubaneswar | ₹ 63,820 | ₹ 58,500 |
Chandigarh | ₹ 63,970 | ₹ 58,650 |
Chennai | ₹ 52,285 | ₹ 47,927 |
Coimbatore | ₹ 64,530 | ₹ 59,150 |
Delhi | ₹ 63,970 | ₹ 58,650 |
Faridabad | ₹ 52,150 | ₹ 47,804 |
Gurgaon | ₹ 52,100 | ₹ 47,758 |
Hyderabad | ₹ 63,820 | ₹ 58,500 |
Jaipur | ₹ 63,970 | ₹ 58,650 |
Kanpur | ₹ 52,290 | ₹ 47,932 |
Kerala | ₹ 63,820 | ₹ 58,500 |
Kochi | ₹ 52,290 | ₹ 47,932 |
Kolkata | ₹ 63,820 | ₹ 58,500 |
Lucknow | ₹ 63,970 | ₹ 58,650 |
Madurai | ₹ 64,530 | ₹ 59,150 |
Mangalore | ₹ 63,820 | ₹ 58,500 |
Meerut | ₹ 52,275 | ₹ 47,918 |
Mumbai | ₹ 63,820 | ₹ 58,500 |
Mysore | ₹ 63,820 | ₹ 58,500 |
Nagpur | ₹ 63,820 | ₹ 58,500 |
Nashik | ₹ 63,850 | ₹ 58,530 |
Patna | ₹ 63,870 | ₹ 58,550 |
Pune | ₹ 63,820 | ₹ 58,500 |
Surat | ₹ 63,870 | ₹ 58,550 |
Vadodara | ₹ 63,870 | ₹ 58,550 |
Vijayawada | ₹ 63,820 | ₹ 58,500 |
Visakhapatnam | ₹ 63,820 | ₹ 58,500 |
Learn About Gold Prices
24 Carat Gold Gold
is considered to be in its purest form at 24 carats. Pure gold, or 24-carat gold, indicates 99.9 percent purity without any other metals. This form of gold is utilized in crafting gold coins, bars, and more. Additionally, there are various other purities for gold, measured in relation to 24 carats.
Distinguishing Between 24 Carat and 22 Carat Gold
| 24 Carat Gold | 22 Carat Gold |
|---|---|
| It is the purest form of gold and contains 99.5% of the precious yellow metal. | It has 91.6% parts of pure gold. Rest of the parts are metals such as silver, copper, or some others. |
| It is quite soft, pliable, brittle, and bendable. | It has a hard texture and thus cannot be easily moulded or bended. |
| It is mostly used in medical and electrical equipment including computers, phones, and more. | It is relatively inexpensive due to lesser percentage of pure gold. |
| This is the most expensive form of gold. | It is mostly used for making jewellery, bars, bullions, and coins. |
| It is bright yellow in colour. | It is usually tainted due to the presence of other metals. |
Gold Prices in Major Cities
The prices of gold can differ from one city to another due to several factors such as demand, imposed interests, octroi charges, state taxes, involvement of gold traders, bullion associations, transportation costs, making charges, and other relevant considerations.
Factors Influencing Gold Prices in India
Gold stands out as a favored investment globally, particularly in India. Similar to other financial assets, the value of gold experiences constant fluctuations. Although demand is a pivotal determinant of gold’s market price, various other factors also play a significant role. Below are some of the factors influencing daily gold rates.
- Demand: The principles of supply and demand significantly influence gold prices, as with any other commodity. Increased demand coupled with limited or low supply typically leads to a price increase. Conversely, an oversupply of gold with stagnant or weak demand can result in lower prices. Generally, gold demand in India rises during the wedding and festive seasons.
- Inflation: In times of inflation, the value of currency diminishes. In such circumstances, individuals often prefer to hold onto wealth in the form of gold, acting as a hedge against inflation. This can cause a surge in gold prices.
- Interest Rates: Gold and interest rates exhibit an inverse relationship. Rising interest rates often prompt individuals to sell their gold to pursue higher interest-earning opportunities. Conversely, when interest rates decline, people tend to invest more in gold, increasing its demand.
- Monsoon: A significant portion of gold demand in India originates from rural areas. This demand typically rises following a successful monsoon, harvest, and resultant increase in profits.
- Government Reserves: Many governments, including India’s, hold financial reserves predominantly in gold. If the government’s gold sales surpass the gold available, prices may increase due to insufficient supply. The Reserve Bank of India manages this reserve in India.
- Currency Fluctuations: Gold trade in the international market is conducted in US dollars. When converted to Indian rupees during import, the gold price fluctuates. A depreciation of the Indian rupee usually results in costlier gold imports.
- Correlation with Other Assets: Gold has a low to negative correlation with major asset classes, making it an effective portfolio diversifier. Experts suggest that gold can protect a portfolio from volatility, as factors affecting returns in most asset classes do not significantly impact gold prices.
- Geopolitical Factors: During geopolitical turmoil, such as a war, the demand for gold tends to increase as it is considered a safe haven for parking funds. While geopolitical turmoil negatively affects most asset classes, it positively impacts gold prices.
- Octroi Charges and Entry Tax: Local taxes like octroi charges and entry taxes are imposed by tax authorities when goods enter their jurisdiction (state/city). Octroi is levied when goods enter a city, and entry tax is imposed when goods enter a state. Additionally, if the value of your gold exceeds Rs. 30 lakhs, wealth tax is levied.
- Making Charges: Making charges are commonly applied to gold jewelry and can vary based on the design and the jeweler. These charges are specific to each piece of jewelry and each jeweler.
Gold Buying Guide
Gold has maintained its position at the forefront of investors’ preferences for centuries. Regarded as one of the most popular forms of investment in India, gold holds significant importance as a tool for financial security.
Beyond its financial appeal, this precious metal carries religious and cultural significance in various societies, contributing to its overall market value.
While modern markets offer digital gold options, the allure of physical gold remains enduring.
However, navigating the realm of gold investment demands careful consideration of numerous factors. This comprehensive buying guide aims to assist you in making informed decisions for your next gold purchase.
Gold Purity
The purity of gold is a crucial factor to consider when shopping for gold and is denoted in terms of “Carats,” with 24K representing the purest form. However, 24K gold exists in a malleable liquid state and requires blending with other metals for durability. For example, 22k gold is a composition of 22 parts gold (91.6%) and 2 parts other metal alloys. Generally, the higher the purity level, the more expensive the gold.
Types of Gold
Physical gold is available in various forms, including coins, bars, and jewelry.
- Gold Coins: Some collectible gold coins may have a higher market value than other gold forms, but authenticity must be carefully verified before purchase.
- Gold Bars: Investment-grade bullion or gold bars typically boast purity levels of 99.5%-99.99%. This information, along with the weight and manufacturer’s name, is usually stamped on the bar.
- Gold Jewelry: This is the most popular form and holds cultural significance. However, the melt-down value is usually not as high as the original purchase price.
Certification of Authenticity
In India, gold purity is certified by the Bureau of Indian Standards through hallmarking, which involves marking precious metals. Opting for hallmarked gold is recommended for assurance of purity and legality.
Gold Cost per Gram
The price of gold fluctuates based on the current market situation. It’s essential to regularly check gold prices from reputable websites.
While predicting gold price fluctuations is challenging, staying in touch with jewelers for estimates is advisable. Additionally, if planning to incorporate other precious stones, weigh the gold separately to ensure accurate pricing.
Buy Back Terms
“Making charges” refer to the cost of producing and designing gold jewelry. This is add to the final jewelry cost before applying the Good and Services Tax (GST).
Some jewelers have a fixed making charge, typically fluctuating between 8-16%, while others calculate it based on a certain percentage of the total jewelry weight. These charges vary depending on the design and whether the piece is handmade or machine-made.
Physical Gold vs. Gold ETFs vs. Sovereign Gold Bonds
| Physical Gold | Gold ETFs | Sovereign Gold Bonds | |
|---|---|---|---|
| Storage | You can store gold in form of jewellery, coins, and bars. The security of these assets is the responsibility of the investor. | ETFs are electronic and hence there is no storage requirement or fear of theft | Do not require physical storage and can be safely traded |
| Interest | There is no interest to be enjoyed. Gold is thus considered a safe but dead investment by many | There is no interest rate to be enjoyed but the return on the investment could vary | Some rate of interest can be enjoyed |
| Tax | A wealth tax is levied on gold if their valuation is above Rs. 30 lakhs | Gold ETFs are taxed as non-equity funds . Short-term gains and long-term gains are taxed as per the tax slab | Sovereign gold bonds are taxed if sold before maturity. If they are held till maturity, there is no tax on capital gains. Any interest earned is taxed. |
Table for Gold Weight Conversion
| To Convert From | To | Multiply By |
|---|---|---|
| Troy ounces | Grams | 31.1035 |
| Troy ounces | Grains | 480 |
| Kilograms | Troy ounces | 32.1507 |
| Grams | Troy ounces | 0.032151 |
| Kilograms | Tolas | 85.755 |
| Kilograms | Bahts | 68.41 |
Frequently Asked Questions
What does the “Today Gold Price in India” signify?
The “Today Gold Price in India” signifies the present market value of gold within the country. It serves as a critical indicator for investors, jewelry manufacturers, and individuals engaged in buying or selling gold. This price is influenced by diverse factors, including global market trends, currency fluctuations, and the dynamics of supply and demand.
How frequently does the “Today Gold Price in India” change?
Gold prices in India can experience fluctuations throughout the day, reflecting real-time market conditions influenced by international trends and economic factors. Regularly checking the gold prices is advisable, particularly for those considering transactions involving gold.
Where can I find accurate and reliable information on the “Today Gold Price in India”?
For precise and trustworthy information on the “Today Gold Price in India,” refer to reputable financial news websites, government-recognized bullion dealers, or utilize specialized mobile applications providing real-time updates on precious metal prices.
What factors impact the “Today Gold Price in India”?
The gold prices in India are influenced by various factors, including global economic conditions, geopolitical events, inflation rates, interest rates, and currency values. Understanding these factors is essential for informed decision-making when buying or selling gold.
How does the “Today Gold Price in India” compare to international prices?
The “Today Gold Price in India” is often influenc by international market trend. It’s crucial to compare local prices with the global market to gauge how India’s gold prices align with broader trends. Such a comparison can be valuable for investors and those involved in international trade.
Are there specific times during the day when the “Today Gold Price in India” is more likely to change?
Gold prices in India may experience fluctuations at various times, especially during significant market events or economic releases. However, given that gold markets operate globally 24/7, price changes can occur at any time. Staying informed about market trends and news updates can help anticipate potential shifts in gold prices.
