Gold Price in India

Last Updated: 31st July 2021
  • 24 Carat Gold Rate (10 grams)
    ₹ 48,430 +70 (+0.14%)
  • 22 Carat Gold Rate (10 grams)
    ₹ 44,360 +70 (+0.14%)

If you're looking to invest in gold or to buy gold jewellery for personal use, find here all vital information you may need before going ahead with your purchase. Find here the latest prices for 24 carat gold and 22 carat gold in India and also compare them to make an informed decision. All prices have been updated today and are on a par with industry standards.

24 Carat Gold Price in India Today

Digital Gold Price
Gram 24K Gold Price Daily Price Change
1 gram
₹ 4,843 + ₹ 7
8 grams
₹ 38,744 + ₹ 56
10 grams
₹ 48,430 + ₹ 70
100 grams
₹ 4,84,300 + ₹ 700

22 Carat Gold Price in India Today

Gram 22K Gold Price Daily Price Change
1 gram
₹ 4,436 + ₹ 7
8 grams
₹ 35,488 + ₹ 56
10 grams
₹ 44,360 + ₹ 70
100 grams
₹ 4,43,600 + ₹ 700

Gold Rate Comparison (24K vs 22K) in India

Daily Gold Rate In India (15 Days)

Date Pure Gold (24K) Standard Gold (22K) % Change
30 July 2021
₹ 48,430 ₹ 44,360 +0.14%
29 July 2021
₹ 48,360 ₹ 44,300 +1.26%
28 July 2021
₹ 47,760 ₹ 43,750 +0.07%
27 July 2021
₹ 47,720 ₹ 43,720 -0.46%
26 July 2021
₹ 47,950 ₹ 43,920 +0.50%
25 July 2021
₹ 47,700 ₹ 43,700 0%
24 July 2021
₹ 47,700 ₹ 43,700 0%
23 July 2021
₹ 47,700 ₹ 43,700 +0.07%
22 July 2021
₹ 47,670 ₹ 43,670 -1.13%
21 July 2021
₹ 48,220 ₹ 44,170 0%
20 July 2021
₹ 48,220 ₹ 44,170 +0.20%
19 July 2021
₹ 48,130 ₹ 44,080 -0.32%
18 July 2021
₹ 48,270 ₹ 44,220 0%
17 July 2021
₹ 48,270 ₹ 44,220 0%
16 July 2021
₹ 48,270 ₹ 44,220 0%

Gold Price Today in Major Cities of India

City 24 Carat Gold Rate
(10 grams)
22 Carat Gold Rate
(10 grams)
₹ 49,760 ₹ 47,750
₹ 49,990 ₹ 45,824
₹ 49,930 ₹ 45,769
₹ 49,690 ₹ 47,430
₹ 49,900 ₹ 47,100
₹ 49,770 ₹ 45,620
₹ 51,710 ₹ 47,400
₹ 49,880 ₹ 45,723
₹ 49,370 ₹ 45,250
₹ 49,800 ₹ 47,600
₹ 49,940 ₹ 45,778
₹ 49,370 ₹ 45,250
₹ 49,975 ₹ 45,810
₹ 50,100 ₹ 47,400
₹ 51,710 ₹ 47,400
₹ 49,770 ₹ 45,620
₹ 49,370 ₹ 45,250
₹ 49,925 ₹ 45,764
₹ 48,380 ₹ 47,380
₹ 49,370 ₹ 45,250
₹ 48,380 ₹ 47,380
₹ 48,380 ₹ 47,380
₹ 49,870 ₹ 46,600
₹ 49,870 ₹ 46,600
₹ 49,760 ₹ 47,750
₹ 48,490 ₹ 47,040
₹ 49,370 ₹ 45,250
₹ 49,370 ₹ 45,250
* Gold rates are reflective of market trends and interest rates. They do not include GST, TCS and other levies. For the latest and exact prices contact your local jeweller. Making charges may apply.
Gold Rate Calculator
City
Quantity (gram)
Purity

Know About Gold Price

24 Carat Gold

Gold is deemed to be in its purest form at 24 carats. Pure gold or 24 carat gold signifies 99.9 percent purity and it doesn’t contain any other metals. The 24 carat gold is used to make gold coins, bars, etc. Various other purities for gold also exist and are measured in relativity to 24 carats.

22 Carat Gold

The 22 carat purity gold is ideal for jewellery making. It is 22 parts gold and two parts silver, nickel or any other metal. The mixing of other metals makes gold more stiff and appropriate for jewellery. The 22 carat gold often reflects 91.67 of gold purity.

22 Carat and 24 Carat Gold: Know the difference
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 Rate in Major Cities

Gold rates may vary from city to city based on various factors including demand, interests levied, octroi charges, state taxes, gold traders, bullion associations, transportation costs, making charges and other such.

Factors Affecting Gold Price in India

Gold is one of the most popular investment tools worldwide, especially in India. Like other financial assets, the price of gold also keeps fluctuating. While demand for gold is one of the key factors that determines its market price, a gamut of other factors have a role too. Find below some of the factors affecting daily gold rates.

1. Demand

Like any other commodity, demand and supply economics has a huge impact on gold prices. Increased demand with constrained or low supply usually results in a price hike. Similarly, an oversupply of gold with stagnant or weak demand can push the prices lower. In general, the demand for gold rises in India during the wedding and festive seasons.

2. Inflation

During inflation, the value of the currency goes down. In such a scenario, may prefer to hold onto money in the form of gold. This results in a spike in the prices of gold, which, in a way, acts as a hedging tool against inflationary conditions.

3. Interest rates

Gold and interest rates tend to have an inverse relationship. As the interest rates increase, people tend to sell off their gold to earn high interest. Similarly, when the interest rates decrease, people tend to buy more gold, thus increasing the demand.

4. Monsoon

A major part of gold demand in India comes from rural areas. This demand usually tends to escalate after a good monsoon, harvest, and resultant profits.

5. Government Reserves

Many governments have financial reserves that are composed primarily of gold, and India is no exception. However, if this reserve exceeds the gold sold by the government, the gold prices increase due to an insufficient supply. In India, this reserve is maintained by the Reserve Bank Of India.

6. Currency fluctuations

Gold trade in the international market transacts in US dollars. During import, when the US dollars are converted to Indian rupees, the gold price fluctuates. Usually, if the Indian rupee depreciates, gold import turns to be costlier.

7. Correlation with other assets

Gold has a low to negative correlation with all the major asset classes and thus, makes for a highly effective portfolio diversifier. As per the experts, gold protects one's portfolio from volatility because the factors that affect the returns from most asset classes do not influence the price of gold much. Some even believe that as the shares of a company fall, an inverse correlation might develop between gold and equities.

8. Geopolitical factors

During geopolitical turmoils, such as a war, the demand for gold tends to go up as a safe haven for parking funds. Thus, while a geopolitical turmoil negatively impacts the prices of most asset classes, it has a positive impact on gold prices.

9. Octroi charges and Entry tax

Octroi charge and entry tax are local taxes levied by the tax authorities when goods enter their jurisdiction (state/city). Octroi is levied when the goods enter a city, whereas Entry tax is levied when the goods enter a state. Furthermore, if your gold is valued at more than Rs. 30 lakhs, a wealth tax is levied on it.

10. Making charges

Making charges are usually levied on gold jewellery and may differ from piece-to-piece, depending on the design, as well as from jeweller-to-jeweller.

Gold Buying Guide

Gold has been at the top of investor’s list for centuries now. One of the most popular forms of investments in India, it is considered as an important tool of financial security.

Besides the financial aspect, this yellow metal also holds religious and cultural significance in many a culture, factors which also add to its market value.

Although the modern markets are flooded with digital gold, the charm of physical gold stays intact.

However, investing in gold can be a tricky business and requires careful consideration of many factors. Here is an extensive buying guide that’ll help you with your next gold purchase.

Gold Purity

Purity of gold is one of the most important factors to be considered before gold shopping and is defined in terms of “Carats”, with 24K being the purest form. However, 24K gold is present in a malleable liquid form and needs to be mixed with other metals for sturdiness. For instance, 22k gold is a mix of 22 parts of gold, i.e. 91.6% and 2 parts of other metal alloys. The greater the level of purity, the more expensive gold is.

Gold Type

Physical gold can be bought in many forms- coins, bars, jewellery.

Gold Coins:

Some of the collectable gold coins have a higher market value than other forms of gold. However, authenticity needs to be checked carefully before this purchase.

Gold Bar:

Investment quality bullions or gold bars usually come with purity levels of 99.5%-99.99%. You can find this information stamped on the bar along with the weight and manufacturer’s name.

Gold Jewellery -

This is the most popular form and has a cultural significance too. However, the meltdown value is usually not as high as the original price.

Genuine Gold Certification

In India, the purity of gold is certified by the Bureau of Indian Standard via hallmarking, defined as putting up marks on precious metals. It is advised to always go for hallmarked gold, for an assurance of purity, as well as, legality.

Gold Cost per gram

The price of gold keeps fluctuating depending upon the current market situation. Make sure that you keep a regular check on the gold prices from credible websites.

Although it’s not possible to accurately predict a surge or downfall in the prices of gold, you can keep in touch with jewellers for estimation. Also, make sure to get the gold weighed separately if you are planning to get it studded with other precious stones, to ensure accuracy in prices.

Buy Back Terms

“Making charges” refer to the cost of producing and designing any piece of gold jewellery. It is added to the final cost of the jewellery, before levying the Goods and Services Tax (GST).

While some jewellers have a fixed making charge that usually fluctuates between 8-16%, others may charge it based on a certain percentage of the total jewellery weight. These charges vary depending upon the design and whether the piece is man-made or machine-made.

Physical Gold vs. Gold ETFs vs. Sovereign Gold Bonds

Physical gold, Exchange Traded Funds (ETFs), Sovereign Gold Bonds are some investment options in gold, which have been the choice of various investors since long.

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.
Gold Weight Conversion Table

Refer to the following table to find out the value of gold in different units. Gold is often measured in grams, kilograms, troy ounce, bhats, and tonnes.

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 are the various forms of investing in gold?

    Gold is touted as one of the safest financial tools against inflation and is traded across the world in the form of bars, coins, bullions, jewellery, exchanges, mutual funds, mining stocks, Exchange Traded Fund (ETF), Futures and Options as well as digital gold.

  • What is the purest form of gold?

    The purity of gold is measured in terms of the standard unit ‘Carats’, with 24 carats being the purest form. However, the gold is liquid in this state and cannot be moulded into jewellery, coins, or even bars.

    Therefore, it is mixed with other metals such as silver and nickel to form an “alloy”. For instance, 22 carat gold is a mix of 22 parts of gold, i.e. 91.6% and two parts of other metal alloys. The greater the level of purity, the more expensive the gold is.

  • What is hallmarking of gold?

    Hallmarking is the official marking of precious metals by the Bureau of Indian Standards (BIS), as a guarantee of their fineness or purity. It provides a third-party assurance and satisfaction of quality to both the seller as well as the buyer. BIS is the National Standard Body of India that has a standardised hallmark system for gold as well as silver jewellery sold in India. This system or the BIS Hallmarking Scheme has been aligned with International criteria on hallmarking. The principal objective of the Hallmarking Scheme is to protect the buyer from adulteration and to obligate manufacturers to maintain legal standards of fineness. The gold is checked in one of the assaying centres in the country.

  • Which are the logos to look for before buying jewellery?

    Hallmarked gold is laser engraved with details such as:

    • BIS logo
    • Retailer’s logo
    • Purity (916, 958 etc.)
    • Year of certification
    • Assaying centre’s logo
  • Why should you buy hallmarked gold jewellery when it is only 91.6% pure?

    Hallmark guarantees purity. When you buy hallmarked or BIS verified gold, you are charged only for the gold percentage in your purchase. For instance, if you buy 22 carat gold, you’ll be charged as per the current 22K gold rate with respect to its weight.

  • What does ‘916 Gold’ mean?

    916 Gold is another name of 22 carat gold. It is used to denote the purity of gold in the final product, i.e. for every 100 grams of alloy, there is 91.6 grams of pure gold in it. 916 Gold is ideal for making jewellery and is also verified by BIS. In a similar way, 958 Gold is 23 carat gold, and 750 Gold is 18 carat gold.

  • What is KDM Gold?

    KDM gold is an alloy of 92 percent gold and 8 percent cadmium. Although it is considered high purity gold, it is not verified by BIS. This is due to the health issues related to cadmium for the artisans.

  • Why should you invest in gold?
    • Gold has been viewed as a safe and reliable investment tool throughout the pages of history.
    • Gold acts as an excellent hedge against inflation. As the standard of living increases, gold prices also raise.
    • In times of geopolitical instabilities or global crises, people have had turned to gold as a safe investment tool.
    • It is an excellent portfolio diversifier.
    • Although the price of gold may be volatile in short term, its value is maintained over the long term.
    • It holds greats cultural significance globally.
    • Since gold is a good conductor of electricity, it also enjoys demand in the fields of dentistry, heat shield as well as electronics and gadgets.
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