Gold is a popular asset in the Indian household. The gold rate in India fluctuates based on current demand and supply, domestic and global factors, and more. Find today’s prices for 24-carat gold and 22-carat gold in India. Now you can invest in the top Gold Funds with Scripbox.
|Grammage||Today’s Price||Yesterday’s Price||1D Price Change|
|1 gram||₹ 5,720||₹ 5,711||₹ 9.5 (0.17%)|
|8 grams||₹ 45,764||₹ 45,688||₹ 76 (0.17%)|
|10 grams||₹ 57,206||₹ 57,111||₹ 95 (0.17%)|
|Grammage||Today’s Price||Yesterday’s Price||1D Price Change|
|1 gram||₹ 5,243||₹ 5,235||₹ 9.5 (0.17%)|
|8 grams||₹ 41,951||₹ 41,881||₹ 76 (0.17%)|
|10 grams||₹ 52,439||₹ 52,352||₹ 95 (0.17%)|
|City||24K Price||22K Price|
|ahmedabad||₹ 5,658||₹ 5,389|
|bangalore||₹ 5,660||₹ 5,390|
|bhubaneswar||₹ 5,702||₹ 5,430|
|chandigarh||₹ 5,654||₹ 5,385|
|chennai||₹ 5,642||₹ 5,373|
|coimbatore||₹ 5,642||₹ 5,373|
|delhi||₹ 5,654||₹ 5,385|
|hyderabad||₹ 5,642||₹ 5,373|
|indore||₹ 5,636||₹ 5,368|
|jaipur||₹ 5,658||₹ 5,389|
|kanpur||₹ 5,654||₹ 5,385|
|kerala||₹ 5,539||₹ 5,275|
|kolkata||₹ 5,702||₹ 5,430|
|lucknow||₹ 5,654||₹ 5,385|
|madurai||₹ 5,642||₹ 5,373|
|mangalore||₹ 5,660||₹ 5,390|
|mumbai||₹ 5,636||₹ 5,368|
|mysore||₹ 5,660||₹ 5,390|
|nagpur||₹ 5,636||₹ 5,368|
|nashik||₹ 5,636||₹ 5,368|
|patna||₹ 5,702||₹ 5,430|
|pune||₹ 5,636||₹ 5,368|
|surat||₹ 5,658||₹ 5,389|
|vadodara||₹ 5,658||₹ 5,389|
|vijayawada||₹ 5,642||₹ 5,373|
|visakhapatnam||₹ 5,642||₹ 5,373|
|Days||24K Price||22K Price|
|Wed, 08 Feb 2023||₹ 5,720||₹ 5,243|
|Tue, 07 Feb 2023||₹ 5,711||₹ 5,235|
|Mon, 06 Feb 2023||₹ 5,706||₹ 5,231|
|Sun, 05 Feb 2023||₹ 5,658||₹ 5,186|
|Sat, 04 Feb 2023||₹ 5,658||₹ 5,186|
|Fri, 03 Feb 2023||₹ 5,720||₹ 5,243|
|Thu, 02 Feb 2023||₹ 5,795||₹ 5,312|
|Wed, 01 Feb 2023||₹ 5,784||₹ 5,302|
|Tue, 31 Jan 2023||₹ 5,688||₹ 5,214|
|Mon, 30 Jan 2023||₹ 5,674||₹ 5,201|
|Sun, 29 Jan 2023||₹ 5,686||₹ 5,212|
Gold is the most precious metal for Indians and a preferred choice in the form of jewellery. Many investors prefer them in other forms like gold coins, bars, gold ETFs, digital gold, etc. Also, buying gold on festivals and occasions is considered to be auspicious. Furthermore, buying gold acts as a hedge against inflation whenever there is a fall in the economy. Thus, the gold rate in India fluctuates and is affected by many internal and external factors.
The following are the factors that affect gold rate in India –
The following are the reasons why gold rates are different in different cities in India –
Indians have a fascination towards gold. Gold is the most cherished metal and is flaunted in the form of jewellery on every occasion. But the gold rate in India is not fixed. It fluctuates every day based on market conditions.
There are several ways that affect the gold rate in India, which helps to determine the gold prices. One of the primary reasons is the geopolitical situation across the globe. For instance, when the Presidential elections were held in the USA, the price of gold rallied initially and then fell again. It was because investors felt that equity shares were performing better. Later on, investors understood that the new President’s policies might be volatile, leading to a gold price hike. There are several other factors that determine the gold rate in India –
The currency performance is the major determinant of global prices of this metal. And the most important currency is the USD. If USD appreciates, then gold rates are likely to move down worldwide. Domestically, when the Indian rupee is stronger, gold prices are lower.
Also Read How Gold Affects Currency Value?
The gold rate in India is dependent on the global prices of this metal. Also, India imports most of its gold. Therefore, whenever there is a change in the global rate of gold, the import prices are also altered accordingly. Moreover, the market price of gold in India is a reflection of import prices.
All nations have a central bank that holds gold and currency for future use. In India, the Reserve Bank of India also has a gold reserve. Therefore, when these banks across the world acquire more gold for reserve, it leads to a rise in gold prices.
There are certain reasons for the rise in consumer demand for gold. For instance, the demand for gold is higher during a wedding season or festival. When the demand is more, there is an imbalance in the demand-supply ratio. This leads to a rise in gold rates.
Apart from the above factors, several other factors determine the gold rate in India. At a particular time, the gold price will also depend on interest rates and inflation in the country. Hence, the price of this yellow metal will continue to fluctuate for several reasons.
The following are the various gold options available to buyers –
Read in detail about the types of gold investment options.
|Parameter||Physical Gold||Sovereign Gold Bond||Gold ETF||Gold Fund|
|Purity||High – Coins/bars|
Low – jewellery
|Liquidity||High||After 5 years||High||High|
|Minimum Investment||Approx INR 5000 (1 gram gold)||Approx INR 5000 (1 gram gold)||Approx INR 5000 (1 gram gold)||INR 500|
|Conversion||Coins/bars into jewellery||Not possible||ETFs into physical gold||Not possible|
|Charges||Making charges for jewellery||Brokerage charges if held through demat account||Expense ratio and brokerage fees||Exit load and expense ratio|
Read more about
The 24-karat gold is the purest form of gold which contains 99.99% of pure gold. There is no other higher form of gold other than 24K gold. It is only used for investment purposes because it is a very soft metal. On the other hand, 22-karat gold is 91.67% pure gold mixed with other metals to make it harder. Thus, it is suitable for jewellery making.
Read more Difference Between 24k and 22k Gold
A combination of factors like supply, demand, global conditions, interest rates, currency fluctuations, investor behaviour, and many more determine the per-gram gold price in India. Also, the gold association sets the gold price every day.
Yes, digital gold is safe because it is in a digital format and stored in an insured vault.
The best time to invest in gold is when the gold prices are expected to fall or are lower than the average gold rates for a particular period.