Today's Gold Rate in India

Gold Prices by Weight Today

Gold Rate Today in Major Indian Cities

Gold prices can vary slightly across different cities due to local taxes, transportation costs, and jewellers' association rates. Here are indicative rates for 10 grams of 24K and 22K gold:

Rates are indicative and subject to change. Always check with local jewellers for exact prices.

Recent Gold Price Trend (Last 10 Days)

Rates are indicative.

Estimate Your Gold Value

This is an indicative price based on today's base rates per 10 grams and does not include GST, making charges, or other levies. Actual prices will vary.

What Affects Gold Prices in India?

• Global Demand & Supply: International market trends, central bank buying/selling, and mining output.
• US Dollar Value: An inverse relationship often exists – a weaker dollar can boost gold prices (in INR too, usually).
• Interest Rates: Higher rates can make non-yielding gold less attractive compared to bonds.
• Inflation: Gold is traditionally seen as a hedge against rising inflation.
• Geopolitical Stability: Uncertainty and conflict often increase demand for gold as a safe-haven asset.
• Indian Rupee (INR) Exchange Rate: Directly impacts the cost of imported gold.
• Local Demand: Strong seasonal buying during festivals and weddings.
• Government Policies: Import duties and taxes like GST significantly impact the final retail price.

Understanding Gold: Purity, Forms & Hallmarking

Purity (Karats):

• 24 Karat (24K): Purest form (99.9% or 999+ fineness), very soft. Primarily used for gold bars, coins, and sometimes in intricate traditional jewellery or as a component in alloys.
• 22 Karat (22K): 91.6% pure gold (marked 916), mixed with alloys (like copper, silver, zinc) for durability. Ideal and most common for plain gold jewellery in India.
• 18 Karat (18K): 75% pure gold (marked 750), with 25% alloys. More durable and often more affordable, commonly used for diamond-studded jewellery and pieces requiring greater rigidity.
• Other Karats: Lower karats like 14K (58.3% pure, marked 585) or 10K (41.7% pure, marked 417) are also available, offering higher durability and lower cost, but are less common in India for traditional gold purchases.

Common Forms of Gold:

• Jewellery: The most popular form for personal use and adornment. Comes in various karats, designs, and includes making charges.
• Coins: Often bought for investment, gifts, or during festivals. Typically available in 24K or 22K purity.
• Bars (Bullion): Preferred for larger investments, available in various weights and typically 24K purity. Lower making charges than jewellery.

BIS Hallmarking:

Hallmarking in India is a system for certifying the purity of gold (and silver) items sold. As of June 2021, hallmarking of gold jewellery and artefacts is mandatory in specified districts across India. Always look for the 3 mandatory marks on new hallmarked gold jewellery:

1. BIS Standard Mark (Triangle Logo): Signifies that the gold item has been hallmarked by a BIS-recognised A&H centre.
2. Purity/Fineness Grade: Indicates the purity of gold in Karats and fineness (e.g., 22K916 for 22 Karat gold, 18K750 for 18 Karat).
3. 6-digit Alphanumeric HUID (Hallmark Unique ID): A unique code for each piece of jewellery, traceable to the jeweller and hallmarking centre.

Hallmarking guarantees the purity of gold you are paying for and protects you from under-karatage.

Glossary of Gold Terms

Assay

A process of testing and analyzing the purity and composition of a metal, typically gold or silver, to determine its quality and fineness.

Bullion

Gold (or silver) in the form of bars, ingots, or coins, valued by its weight and purity rather than its face value as currency. Typically traded in bulk.

Fineness

A measure of the purity of gold, often expressed in parts per thousand. For example, 999 fineness means 99.9% pure gold (equivalent to 24 Karat).

Hallmarking

The official marking or stamping of precious metal items, like gold jewellery, to certify their purity and fineness according to set standards. In India, BIS hallmarking is prevalent.

Karat (K)

A unit of purity for gold, where 24 Karat represents pure gold. 22K gold is 22/24 parts pure gold (91.67%), and 18K is 18/24 parts pure gold (75%).

Making Charges

The cost associated with designing and crafting gold jewellery from raw gold. These charges vary based on design complexity and jeweller.

Premium/Discount

The amount by which the local price of gold is above (premium) or below (discount) the international spot price, often influenced by local demand, import duties, and supply factors.

Spot Price

The current market price of gold for immediate delivery. This price fluctuates constantly based on global trading.

Troy Ounce

A unit of weight commonly used for precious metals. One troy ounce is approximately 31.1035 grams (distinct from the standard avoirdupois ounce of ~28.35 grams).

Gold Buying Considerations

• Check Live Rate: Prices fluctuate, verify the current market rate for the correct purity (24K/22K/18K) before purchasing.
• Verify Purity & Hallmarking: Always buy hallmarked gold. Check for the three mandatory BIS marks.
• Understand Making Charges: These are labour costs and vary significantly between jewellers and designs (plain vs. intricate). Ask for a clear breakdown.
• Know the Weight: Ensure the weight mentioned is accurate and distinguish between net gold weight and gross weight (if stones are present).
• GST & Other Levies: Be aware of applicable Goods and Services Tax (GST) and any other local taxes.
• Get a Detailed Bill: Obtain a proper tax invoice mentioning purity, net gold weight, rate per gram, making charges, stone details (weight, cost if any), HUID, and GST.
• Compare Jewellers: Rates, making charges, and buy-back policies can differ; compare offers from reputable jewellers.
• Investment vs. Jewellery: For pure investment, consider Sovereign Gold Bonds (SGBs), Gold ETFs, or digital gold, which typically have lower associated costs than physical jewellery.
• Buy-back Policy: Understand the jeweller's policy for exchanging or selling back the gold in the future.

Tips for Selling Your Gold

• Know Your Gold: Before selling, understand the purity (Karat) and weight of your gold items. If you have original bills, they can be helpful.
• Check Current Market Rate: Be aware of the prevailing gold price for the purity you intend to sell.
• Get Multiple Quotes: Visit several reputable jewellers or gold buyers to get different offers. Prices offered can vary.
• Understand Deductions: Jewellers may deduct for impurities (if not hallmarked or of lower purity than claimed) or for melting losses. Ask for a clear explanation of any deductions.
• Remove Stones: If your jewellery has stones, clarify if their weight is excluded and if you can keep them. Some buyers might not value the stones or offer a very low price for them.
• Hallmarked Gold: Hallmarked gold generally fetches a better price and involves a more transparent selling process.
• Choose Reputable Buyers: Sell to well-known and trusted jewellers or certified gold buyers to avoid being cheated on weight or purity assessment.
• Ask for a Detailed Receipt: When you sell, get a receipt detailing the weight, purity assessed, rate applied, and final amount paid.
• Beware of "Too Good to Be True" Offers: High headline rates might come with hidden deductions or unfair assessment practices.

Gold Investment Avenues

Beyond physical jewellery, here are some popular ways to invest in gold:

• Physical Gold (Coins & Bars): Tangible assets, offering direct ownership. Consider storage and insurance. Purity is key (typically 24K).
• Sovereign Gold Bonds (SGBs): Government securities denominated in grams of gold. Offer interest income and tax benefits on redemption. Issued by RBI.
• Gold Exchange Traded Funds (ETFs): Units representing physical gold held in dematerialized form. Traded on stock exchanges like shares. Require a Demat account.
• Gold Mutual Funds: Funds that invest primarily in Gold ETFs or gold mining company stocks. Offer diversification through fund managers.
• Digital Gold: Allows investment in small fractions of gold online through platforms partnered with gold refiners. Can be accumulated over time and later redeemed for physical gold or cash.

Each option has its own benefits, risks, liquidity, and cost structure. Research thoroughly before investing.

Quick FAQs about Gold

Q1: How often do gold prices change in India?

Gold prices can change multiple times a day. They are influenced by live international gold prices, the USD-INR exchange rate, local demand and supply, and other market factors. Jewellers often update their rates based on these fluctuations.

Q2: Is 24K gold the best for making jewellery?

While 24K is the purest form of gold (99.9%), it's also very soft and malleable. This makes it unsuitable for intricate or everyday-wear jewellery as it can easily bend or scratch. 22K gold (91.6% purity) is generally preferred for plain gold jewellery in India due to its better durability while still retaining a high gold content. 18K gold is often used for studded jewellery.

Q3: What is HUID on gold jewellery?

HUID stands for Hallmark Unique ID. It's a 6-digit alphanumeric code laser-engraved on each piece of hallmarked gold jewellery. It provides traceability, ensuring the purity and authenticity of the gold item. Each HUID is unique to a specific piece of jewellery.

Q4: Do gold rates include GST and making charges?

The gold rates typically displayed (e.g., per 10 grams for 24K or 22K) are usually the base price of gold. GST (currently 3% on gold value) and making charges (which vary widely) are added on top of this base price to arrive at the final retail cost of gold jewellery.

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