Gold Rate Today

Todays gold rate in India:

  • 10g of 24K gold is 48,660 Indian Rupee
  • 10g of 22K gold is 44,610 Indian Rupee
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  • Gold Price In Indian Cities

    City Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    ADILABAD ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    AGARTALA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AGRA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    AHMEDABAD ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AHMEDNAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AIZAWL ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AJMER ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AKOLA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    ALIGARH ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    ALLAHABAD ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    AMBALA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    AMBIKAPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AMRAVATI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AMRITSAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    ANAND ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    ASANSOL ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    AURANGABAD ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BAHADURGARH ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    BALANGIR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BALASORE ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BALLARI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    BANGALORE ₹ 4,246 ₹ 33,968 ₹ 4,631 ₹ 37,048
    BANKURA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BAREILLY ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    BARIPADA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BATHINDA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    BELGAUM ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    BERHAMPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHADRAK ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHAGALPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHARUCH ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHILAI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHIMAVARAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    BHIWANI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    BHOPAL ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BHUBANESHWAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BIDAR ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    BIJAPUR-KARNATAKA ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    BIKANER ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BILASPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    BOKARO ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    CHANDIGARH ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    CHANDRAPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    CHENNAI ₹ 4,263 ₹ 34,104 ₹ 4,651 ₹ 37,208
    CHITRADURGA ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    CHITTOOR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    COIMBATORE ₹ 4,263 ₹ 34,104 ₹ 4,651 ₹ 37,208
    COOCH BEHAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    CUDDALORE ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    CUTTACK ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DARJEELING ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DAVANGERE ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    DEHRADUN ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    DEWAS ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DHANBAD ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DHARMAVARAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    DHULE ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DIBRUGARH ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DINDIGUL ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    DISPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    DURGAPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    ELURU ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    ERODE ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    FARIDABAD ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    GANDHIDHAM ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    GANDHINAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    GANGTOK ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    GAYA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    GHAZIABAD ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    GORAKHPUR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    GULBARGA ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    GUNTUR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    GURGAON ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    GUWAHATI ₹ 4,430 ₹ 35,440 ₹ 4,658 ₹ 37,264
    GWALIOR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    HALDWANI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    HARIDWAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    HASSAN ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    HISAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    HOSUR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    HOWRAH ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    HUBLI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    HYDERABAD ₹ 4,246 ₹ 33,968 ₹ 4,631 ₹ 37,048
    IMPHAL ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    INDORE ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    ITANAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JABALPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JAIPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JALANDHAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    JALGAON ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JALPAIGURI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JAMMU ₹ 4,388 ₹ 35,104 ₹ 4,607 ₹ 36,856
    JAMNAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JAMSHEDPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JHANSI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    JIND ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    JODHPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    JORHAT ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KADAPA ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KAITHAL ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    KAKINADA ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KANNUR ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    KANPUR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    KARIMNAGAR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KARNAL ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    KARUR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KAVARATTI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    KHAMMAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KHARAGPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KOCHI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    KOHIMA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KOLHAPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KOLKATA ₹ 4,492 ₹ 35,936 ₹ 4,762 ₹ 38,096
    KOLLAM ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    KORBA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KOTA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    KOZHIKODE ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    KUMBAKONAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    KURNOOL ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    LATUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    LUCKNOW ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    LUDHIANA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    MACHILIPATNAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    MADURAI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    MALAPPURAM ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    MANDYA ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    MANGALORE ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    MEERUT ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    MIRYALAGUDA ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    MOHALI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    MUMBAI ₹ 4,436 ₹ 35,488 ₹ 4,536 ₹ 36,288
    MUZAFFARPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    MYSORE ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    NAGAPATTINAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NAGERCOIL ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NAGPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    NALGONDA ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NANDED ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    NANDYAL ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NASIK ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    NELLORE ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NEW DELHI ₹ 4,461 ₹ 35,688 ₹ 4,866 ₹ 38,928
    NIZAMABAD ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    NOIDA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    ONGOLE ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PALWAL ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    PANAJI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    PANCHKULA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    PANIPAT ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    PANVEL ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    PATNA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    POLLACHI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PONDICHERRY ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PORT BLAIR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PRODDATUR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PUDUKKOTTAI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    PUNDRI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    PUNE ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    PURI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    PURULIA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RAICHUR ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    RAIGANJ ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RAIGARH ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RAIPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RAJAHMUNDRY ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    RAJKOT ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RAJNANDGAON ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RANCHI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RATLAM ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    RATNAGIRI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    REWA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    REWARI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    ROHTAK ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    ROURKELA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SALEM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    SAMBALPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SANGLI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SATARA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SATNA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SHILLONG ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SHIMLA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    SHIMOGA ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    SILCHAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SILIGURI ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SIRSA ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    SIVAKASI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    SOLAPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SONIPAT ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    SRI GANGANAGAR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SRIKAKULAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    SRINAGAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    SURAT ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    SURYAPET ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    TADEPALLIGUDEM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    TENALI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    THANE ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    THANJAVUR ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    THIRUVANANTHAPURAM ₹ 4,246 ₹ 33,968 ₹ 4,631 ₹ 37,048
    THOOTHUKUDI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    THRISSUR ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    TIRUCHIRAPALLI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    TIRUNELVELI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    TIRUPATI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    TIRUVANNAMALAI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    UDAIPUR ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    UDUPI ₹ 4,180 ₹ 33,440 ₹ 4,389 ₹ 35,112
    UJJAIN ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    VADODARA ₹ 4,323 ₹ 34,584 ₹ 4,539 ₹ 36,312
    VANIYAMBADI ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    VARANASI ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400
    VELLORE ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    VIJAYAWADA ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    VISAKHAPATNAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    VIZIANAGARAM ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    WARANGAL ₹ 4,238 ₹ 33,904 ₹ 4,450 ₹ 35,600
    YAMUNAGAR ₹ 4,333 ₹ 34,664 ₹ 4,550 ₹ 36,400

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Know about Gold Rate in India

    India is the largest consumer of gold in the world, accounting for almost a quarter of the world’s total consumption. It has, since long, maintained this position and, unlike countries like China, India uses gold primarily in the form of jewelry and investments. It is viewed as a solid instrument for investments and even traders who are into commodities trading, invest in gold bullion. These investments are usually dictated by the gold rates prevailing in the economy at that time.

    Even the global view of gold is that of a safe haven where you can invest even when investments in the economy of a country are not a good idea.

    Gold rate in India change on a daily basis, with a number of factors impacting their price in a particular place on a given day. Demand and supply, global market conditions and currency fluctuations are some of the most critical factors which go into determining the rate of gold in a country, with prices changing every day.

    Gold Rate in India for Last 5 Days (1g)

    Date 1 gram Standard Gold (22 K) 1 gram Pure Gold (24 K)
    04 Mar 2021 ₹ 4,461 ₹ 4,866
    03 Mar 2021 ₹ 4,424 ₹ 4,828
    02 Mar 2021 ₹ 4,521 ₹ 4,931
    01 Mar 2021 ₹ 4,481 ₹ 4,891
    28 Feb 2021 ₹ 4,553 ₹ 4,967
    27 Feb 2021 ₹ 4,553 ₹ 4,967

    Historical Gold Price in India

    Months Lowest Price 24 Karat Gold – ₹ Per 10 Grams Highest Price 24 Karat Gold – ₹ Per 10 Grams
    February 202149,27052,320
    January 202149,58054,710
    December 202048,60053,730
    November 2020 51,450 55,250
    October 2020 52,570 54,340
    September 2020 51,030 54,990
    August 2020 53,460 59,300
    July 2020 48,110 53,010
    June 2020 46,220 48,460
    May 2020 44,760 47,920
    April 2020 42,530 48,260
    March 2020 41,110 45,360
    February 2020 41,160 43,940
    January 2020 39,950 42,110

    Also check : Silver Rate in India

    Trend of Gold Rate in India for February 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    February 1 Rate Rs.5,232 per gram
    February 28 Rate Rs.4,967 per gram
    Highest Rate in February Rs.5,232 per gram on 1 February
    Lowest Rate in February Rs.4,927 per gram on 20 February
    Overall Performance Incline

    February 2021 - Week 1 (1 - 7):

    • Gold rate in India opened the month of February at Rs.5,232 per gram and showed a declining trend during the first week. The price of the metal was at its highest on the day and declined to Rs.5,228 per gram on 2 February.
    • The price of the metal on 3 February was Rs.5,159 per gram and dipped to Rs.5,115 per gram with the rise in the dollar value in the international market.
    • With a rising risk appetite and shift to the equities market, the gold rate declined to its lowest on 5 February at Rs.5,010 per gram and recovered marginally to Rs.5,115 per gram, closing at Rs.5,041 per gram on 7 February.

    February 2021 - Week 2 (8 - 14):

    • Gold prices in India opened the second week of the month at Rs.5,042 per gram on 8 February and declined marginally to Rs.5,039 per gram on 9 February due to fluctuations in the international prices.
    • On 10 February, the yellow metal’s prices increased to Rs.5,106 per gram and further to Rs.5,171 per gram on fresh hopes of a stimulus package from the United States as well as in India.
    • The value of gold dipped eased on 12 February at Rs.5,095 per gram and further to Rs.5,061 per gram and closed the week at Rs.5,062 per gram on 14 February.

    February 2021 - Week 3 (15 - 21):

    • In India, the price of gold at the start of the third week of February was Rs.5,062 per gram. There was no change in the rate when compared to the closing price of the previous week.
    • While the price of the yellow metal remained unchanged over the next two days, it started to slip from 18th February onwards and recorded its lowest price for the month till date on 20th February when a gram of 24-karat gold cost Rs.4,927.
    • Gold prices in India recovered slightly on the final day of the week and closed at Rs.4,944 per gram. The overall performance of the precious metal in the country witnessed a declining trend.

    February 2021 - Week 4 (22 - 28):

    • Gold prices in India opened the last week of the month at Rs.4,944 per gram on 22 February and increased marginally on 23 February at Rs.4,953 per gram due to fluctuations seen in the international market.
    • On 24 February, the gold rate in India crossed the Rs.5,000 per-gram mark at Rs.5,019 per gram and dipped marginally on the following day to Rs.5,009 per gram. Due to the dollar value recovering in the market, the price of gold dipped to Rs.4,968 per gram on 26 February.
    • Decreasing marginally be Re.1 to Rs.4,967 per gram on 27 February, gold closed the week and the month at a steady price of Rs.4,967 per gram on 28 February.

    Trend of Gold Rate in India for January 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.5,079 per gram
    January 31 Rate Rs.5,231 per gram
    Highest Rate in January Rs.5,471 per gram on 6 January
    Lowest Rate in January Rs.4,958 per gram on 17 January
    Overall Performance Incline

    January 2021 - Week 1 (1 - 9):

    • Opening the new year, the gold rate in India was Rs.5,079 per gram on 1 January and increased throughout the week on a lower risk appetite and higher demand for the bullion market. On 2 and 3 January, the price of the metal increased and held steady at Rs.5,099 per gram.
    • The price of the metal on 4 January, increased to Rs.5,352 per gram and increased marginally to Rs.5,353 per gram on the following day. On 6 January, gold prices increased further to Rs.5,471 per gram and were the highest price of the week.
    • At the end of the week, the price of the metal dipped to Rs.5,466 per gram on 7 January and dipped to Rs.5,417 per gram on 8 January and closed the week at the same price on 9 January.

    January 2021 - Week 2 (10 - 16):

    • Gold price in India at the start of the second week of January was Rs.5,286 per gram. When compared to the closing price of the previous week, the price for every gram was down by Rs.131.
    • Over the next two days, the price of the yellow metal slipped in the country and a gram of the 24-karat gold was priced Rs.5,241 on 12th December.
    • While the price of the yellow metal climbed on 13th December, it remained stagnant for the next two days before slipping on the final day of the week. Gold closed the week at Rs.5,251 per gram with the overall performance witnessing an inclining trend.

    January 2021 - Week 3 (17 - 23):

    • In India, gold prices dipped and opened the third week of the month at Rs.4,958 per gram which was the lowest price of the metal during the month. On 18 January, the price of the metal increased to Rs.5,150 per gram.
    • On 20 January, gold rate in India crossed the Rs.5,200 per-gram mark at Rs.5,216 per gram and further increased to Rs.5,227 per gram on 21 January. The price of the metal inclined further to Rs.5,281 per gram on 22 January.
    • However, due to the dollar value recovering in the market, gold prices declined and closed the week at Rs.4,988 per gram.

    January 2021 - Week 4 (24 - 31):

    • In India, a gram of the 24-karat gold was retailed for Rs.4,988 at the start of the final week of January was Rs.5,286 per gram. When compared to the closing price of the previous week, no change was recorded in the price of the yellow metal.
    • The price of gold shot up in the country over the next two days and was priced Rs.5,246 per gram before recording a decline in the rates.
    • Gold price in India witnessed an inclining trend in the last two days of the week and closed at Rs.5,231 per gram. The overall performance of the precious metal was one of incline.

    Trend of Gold Rate in India for December 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.5,111 per gram
    December 31 Rate Rs.5,331 per gram
    Highest Rate in December Rs.5,373 per gram on 22 December
    Lowest Rate in December Rs.4,860 per gram on 4 December
    Overall Performance Incline

    December 2020 - Week 1 (1 - 6):

    • Gold rate in India opened the first week of December at Rs.5,111 per gram. When compared to the closing price of the previous month, the price of the yellow metal was down by Rs.35 for every gram.
    • The price of gold climbed over the next two days before slipping to its lowest price for the month till date on 4th December when a gram was retailed for Rs.4,860.
    • Gold price recovered over the next two days and closed the opening week at Rs.5,265 per gram, the highest recorded price for the month till date. The overall performance of gold in the country witnessed an inclining trend.

    December 2020 - Week 2 (7 - 13):

    • In the second week of the month, the gold rate in India opened at Rs.5,266 per gram on 7 December and dipped marginally to Rs.5,243 per gram on the following day. The price of the metal increased to Rs.5,319 per gram on 9 December.
    • Hitting its highest on 10 December, gold price was at Rs.5,320 per gram and saw a substantial dip on 11 December at Rs.5,243 per gram.
    • After holding steady at the same price on 12 December, the price of gold increased marginally and closed the week at Rs.5,254 per gram on 13 December, recording an overall weekly incline.

    December 2020 - Week 3 (14 - 20):

    • In India, the price of gold was Rs.5,255 per gram at the start of the third week of December. Gold price witnessed a minimal increase when the rate was compared to what was charged on the final day of the previous week.
    • Gold price slipped in the country the following day and a gram was retailed for Rs.5,232. The price remained unchanged on 16th December before recording an incline in the rates.
    • Gold price in India closed the week at Rs.5,341 per gram. This was the highest recorded price of the yellow metal for the month till date. Gold’s overall performance witnessed an inclining trend in the rates.

    December 2020 - Week 4 (21 - 27):

    • Gold rate in India opened the fourth week of December at Rs.5,342 per gram on 21 December and showed an overall declining trend for the week, after increasing to its weekly high at Rs.5,373 per gram on 22 December.
    • However, due to vaccine optimism, the price of the metal fell to Rs.5,362 per gram on the following day, dipping further to Rs.5,319 per gram on 24 December.
    • On 25 December, the price of the metal was Rs.5,320 per gram, increasing marginally to Rs.5,321 per gram and closed the week on 27 December at Rs.5,322 per gram as investors awaited on the decision by the U.S. government on the stimulus package.

    December 2020 - Week 5 (28 - 31):

    • The price of gold in India at the start of the final week of December was Rs.5,323 per gram. There was a minimal increase in the price of the yellow metal when the rate was compared to the closing price of the precious week.
    • Gold price in India climbed gradually over the week and closed at Rs.5,331 per gram.
    • The overall performance of gold in the country witnessed an inclining trend in the rates.

    Trend of Gold Rate in India for November 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.5,194 per gram
    November 30 Rate Rs.5,146 per gram
    Highest Rate in November Rs.5,525 per gram on 10 November
    Lowest Rate in November Rs.5,145 per gram on 30 November
    Overall Performance Decline

    November 2020 - Week 1 (1 - 8):

    • In the country, the gold rate in India in November opened the month at Rs.5,194 per gram on 1 November and showed an inclining trend for the first week due to the uncertainty around the U.S. elections.
    • On 3 November, the price of the metal had increased to Rs.5,268 per gram and further increased to Rs.5,416 per gram on 5 November as Europe’s lockdown continued due to the rise in COVID-19 cases.
    • The price of the metal on 7 November was Rs.5,461 per gram and increased to hit its weekly high at the end of the week at Rs.5,504 per gram on 8 October.

    November 2020 - Week 2 (9 - 15):

    • In India, gold opened the second week of November at Rs.5,505 per gram. When compared to the closing price of the previous week, the price of the yellow metal was up by Re.1.
    • The price of gold increased in the country the next day and was retailed at the highest recorded price for the month till date. A gram of the 24-karat gold was retailed for Rs.5,525 on the mentioned date.
    • Gold rate in India closed the week at Rs.5,428 per gram. The overall performance of gold witnessed an inclining trend.

    November 2020 - Week 3 (16 - 22):

    • Gold rate in India opened the third week of the month at Rs.5,429 per gram on 16 November and showed a declining trend as risk appetite amongst investors were high on speculations over the COVID-19 vaccine.
    • On 18 November, the price of the metal dipped to Rs.5,417 per gram and on the following day, the metal’s value dipped to below the Rs.5,400 per gram mark at Rs.5,384 per gram on 19 November.
    • After increasing marginally to Rs.5,386 per gram on 21 November, the gold rate decreased and closed the week at Rs.5,362 per gram in the country.

    November 2020 - Week 4 (23 - 30):

    • Gold rate in India opened the last week of the month at Rs.5,362 per gram on 23 November and dipped marginally on 24 November to Rs.5,361 per gram as the metal’s demand remained steady in the market.
    • On 25 November, the price of the metal showed a marginal incline at Rs.5,263 per gram and dipped substantially to Rs.5,199 per gram on 26 November as the value of the dollar rose in the market.
    • With progress seen in the making of potential COVID-19 vaccines, the risk appetite amongst investors increased and the metal hit its monthly low on 29 November and closed at Rs.5,146 per gram.

    Trend of Gold Rate in India for October 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    October 1 Rate Rs.5,342 per gram
    October 31 Rate Rs.5,267 per gram
    Highest Rate in October Rs.5,434 per gram on 13 October
    Lowest Rate in October Rs.5,257 per gram on 30 October
    Overall Performance Decline

    October 2020 - Week 1 & 2 (1 -11):

    • In India, gold price opened the month of October at Rs.5,342 per gram on 1 October and increased to Rs.5,380 per gram on 5 October as the demand for the metal was steady due to the rising number of COVID-19 cases.
    • However, as the value of the U.S. dollar increased, the price of gold fell to Rs.5,336 per gram on 6 October and increased again on 8 October at Rs.5,387 per gram. The metal hit its lowest price of the month on 9 October at Rs.5,335 per gram.
    • On 10 October, the gold rate in India increased to Rs.5,396 per gram as the rising number of cases provided support to the metal. Gold closed at its highest price at Rs.5,397 per gram.

    October 2020 - Week 3 (12 - 18):

    • A gram of the 24-karat gold was retailed for Rs.5,398 in India at the start of the third week of October. When compared to the closing price of the previous week, there was a minimal increase in the rates.
    • The price of gold recorded its highest price for the month till date on 13th October. Consumers were required to pay Rs.5,434 for a gram on the mentioned date.
    • Gold price in India closed the week at Rs.5,377 per gram after the rates witnessed slight fluctuations. The overall performance of the yellow metal witnessed an inclining trend.

    October 2020 - Week 4 (19 - 25):

    • Opening at Rs.5,378 per gram on 19 October, gold rate in India showed a declining trend as the value of the dollar recovered in the market ahead of the speculations surrounding the stimulus package in the United States of America.
    • The price of the metal on 22 October crossed the Rs.5,400 per gram mark at Rs.5,411 per gram and increased to hit its weekly high at Rs.5,413 per gram on 23 October.
    • However, at the end of the week, gold prices declined to Rs.5,301 per gram on 24 October and ended the week at Rs.5,290 per gram on 25 October.

    October 2020 - Week 5 (26 - 31):

    • Gold price in India opened the fifth week of October at Rs.5,290 per gram. When compared to the closing price of the previous week, there was no change in the rates.
    • While the price of the yellow metal remained unchanged the next day, it climbed to Rs.5,311 on 28th October. Gold price slipped to Rs.5,257 on 30th October to record its lowest price for the month.
    • Gold closed the week at Rs.5,267 per gram after recording an incline of Rs.10 for every gram. The overall performance of gold recorded a declining trend in the rates.

    Factors Affecting Gold Price in India

    Trading in gold is a preferred investment mode of investors who are financially savvy and have the required risk-appetite for this kind of market. It requires prudent monitoring of investments as gold prices are subject to change for many reasons. Maintaining or closing a position in this market depends on how well an investor can track, analyze and synthesize pricing information.

    Some of the key factors that affect gold prices are outlined below:

    1. Import costs: Since demand is primarily met through gold imports, import costs affect gold rate in India. Higher the costs, higher the price of gold.
    2. Interest rates on bank fixed deposits: Bank fixed deposits are the go-to investment option for Indians. It is only rivalled by investments in gold. When FD rates fall, investors prefer moving their money to gold. Hence, the demand for gold rises and thereby prices.
    3. Strength of the US dollar: When the US dollar weakens, gold rates in India rise and when the US dollar strengthens, gold prices in India fall. This is because central banks which maintain US dollar reserves tend to hedge against risks of a devaluing dollar by investing in gold. This pushes prices up. Also, India buys its gold from foreign countries and when the US dollar strengthens against the Indian rupee, it makes purchases of gold (usually done in USD), more expensive.
    4. Global economic stability: Gold prices rise during times of economic instability as gold is considered safer asset that others and people tend to move their money out of riskier assets into gold. Other assets bear the risk of being significantly devalued whereas gold which is has high liquidity continues to hold value even during times of crisis.
    5. Seasonality: In India, demand for gold during festivals, marriages and other auspicious occasions. Prices tend to be higher during these times.
    6. Inflation: Since gold is bought to hedge against inflation, gold prices tend to rise when inflation is on an upward trend.
    7. International prices: In general, when gold rates are on an upward trend, globally, gold prices in India also move upwards. Many central banks, especially in the US and in Europe hold huge gold reserves. When these banks or other financial organizations buy more gold, prices move upward.

      International gold prices are hugely affected by the prices fixed on the London Gold Market, twice a day i.e. once at 10:30 a.m. and once at 3 p.m. USD is the currency generally used when quoting prices although it is fixed in Pound Sterlings and Euros as well.

    8. Production costs: Mining companies increase prices at times on account of production costs. This is reflected in the price of gold imported in India.
    9. Supply: Domestic production and supply is limited in India. Supply constraints can push prices upwards. Similarly, lower supplies of gold globally can make the metal dearer in India.

    Gold Rate is Different in Different Cities in India?

    Gold rates vary across different cities in India. Key reasons for this are:

    1. Taxes:State taxes differ from state to state. Some states levy higher taxes than others. This is one of the reasons why gold is more expensive in some cities than others.
    2. Demand: Owing to different population sizes and varying demographics, demand for gold also varies. Discounts are usually offered on larger volumes. So gold prices in cities like Mumbai are lower given larger quantums of transactions.
    3. Carriage: Indian imports a bulk of its gold requirements by sea. Gold prices at port cities e.g. Chennai are lower than those in interior cities e.g. Delhi because of the absence of inland transport charges.
    4. Local associations: Cities have their own local gold associations which have a say in setting the prices. This will also account for differences in gold prices between cities.

    Gold measurements

    Gold is measured in grams and troy weight. (Troy ounces, million ounces, grams, kilograms, tonnes, short tonne, metric tonnes, tolas etc.)

    Karat is used to represent purity when gold is mixed or alloyed with other base metals such as copper. 24K or 24 karat gold is pure gold. Fineness is to represent gold parts per thousand. (18K gold would be 18 of 24 karats out of 1,000 parts or a fineness of 750).

    What is the Difference Between Carat and Karat?

    Carat- It is a unit of weight used to measure precious gems such as diamonds as well as pearls. 200 milligrams or 0.2 grams make a metric carat. Carats are abbreviated to ct. Carats are often mistaken to denote size.

    Karat- It is a unit of finesse or purity used to measure gold. 24 karat gold denotes pure gold. When gold is mixed with another metal the purity is diluted. The purity is then expressed as the parts of gold out of 24. E.g. 22 karat gold (mixed with copper) will be 22 parts gold and 2 parts copper. Gold being soft is alloyed with another metal, usually copper, to attain form. Karat is abbreviated to kt.

    What is the Difference Between 22k and 24k Gold?

    Karats represent the finesse or purity of gold. Gold being a very malleable metal is too soft to attain form on its own. It is usually alloyed with another metal, mostly copper, in order to attain form. The purity of the gold is then represented in karats as the parts of gold present out of 24.

    24 karat gold is 99.99% pure gold whereas 22 karat gold is 91.67% pure. 22 karat gold means, the alloy consists of 22 parts gold and 2 parts of the alloyed metal.

    24k gold is priced higher than 22k gold being purer, however, some people prefer 22k gold being more durable. Import duties are generally lower for 24k gold and higher for 22k gold.

    Demand for Gold in India

    India’s primary demand for gold is for use as jewelry. Investments are the next greatest demand driver. Unlike China, the next highest consumer of gold in the world, whose primary demand for gold is for industrial purposes, India’s industrial usage of gold is minimal.

    Domestic production of gold in India is limited and, given its strong demand, India relies heavily on gold imports every year. Currently, the Kolar mines in Karnataka are the only operational mines in India, grossly unable to meet domestic demand.

    Gold imports in India constitute the next largest chunk of total imports after crude oil. Of late, the government has increased its focus on curbing the negative impact of heavy gold imports viz. a widening trade deficit and rupee devaluation.

    Why is Gold Considered so Valuable?

    Gold is considered valuable for many reasons, mainly

    1. Value: Although gold prices fluctuate in the near to medium term, its value tends to rise in the long-term. For this reason, people invest and hold on to gold for a long period of time. Gold tends to not be affected by geopolitical or economic turmoil. It is valuable during emergencies providing liquidity as it is easily traded. It is a hedge against inflation as well and acts as a great value addition to an investor’s portfolio.
    2. Industrial uses: Gold is used in certain manufacturing processes. Although not comparable to retail consumption, many countries use gold for production purposes.
    3. Versatile metal:Gold is available in many useful forms making it a versatile investment. It is popularly used as jewellery and other gift items and held in the form of coins, bars or bullion. It is also available in edible form or woven into fabrics. Besides all this, paperless gold instruments are now being used to represent physical gold.
    4. Gold reserves:Gold is maintained as reserves to back paper currencies by many countries. These paper currencies attain their values based on the value of the gold reserves that back them.
    5. Limited supply: The amount of gold that can be mined and produced in the world is limited. Due to this, gold attains more value as an irreplaceable asset.
    6. Tradition: Gold has traditionally been used for financial transactions. This has passed down through the ages and prevails even today.

    Indian gold reserves

    This is the amount of gold held by India’s Central Bank. Referred to as store value, it is against these reserves that currency is printed and circulated in the economy. Besides providing value to currency, these reserves act as security for amounts due to depositors or trading partners.

    Gold as an Investment in India

    Indians primarily invest in gold as a means to counter inflation. While the price of gold may fluctuate over time, the value of this metal remains relatively stable, especially in the long-run. Returns on gold are generally higher in the long-run as compared to other asset classes. Real estate and equity markets have proven to be the exceptions but for most Indian investors, gold still forms a huge part of their investment portfolios.

    Traditionally, investment in gold has been in the form of jewelry gold bars or gold coins. As financial markets developed over the years, new investment avenues have opened up. Gold is now increasingly being invested in through Gold ETFs (Exchange Traded Funds) or through mutual funds which invest in gold or through stocks of companies that are in the business of gold/gold-related activities. Gold is also traded as a commodity on commodity exchanges.

    Investments in gold commodities, ETFs, funds and stocks can be done online adding another dimension to gold investments in India.

    Gold Trading as a Commodity in India

    Gold is traded through spot contracts or derivative contracts i.e. investors can trade in gold without possessing gold in its physical form.

    • Gold spot contracts are whereby gold is bought and immediately delivered (i.e. sold and delivered right away).
    • Gold futures contracts are whereby gold is bought and sold at a later date as per the contract. Unlike most other commodities, gold futures are traded at spot prices and not at prices influenced by demand and supply.

    Gold is traded as a commodity on three major commodity exchanges in India:

    1. Multi Commodity Exchange (MCX)
    2. National Commodity & Derivatives Exchange (NCDEX)
    3. National Spot Exchange (NSEL)

    Gold Futures Contracts on MCX

    MCX is India’s leading commodities exchange and a leading exchange to trade in gold. Contracts traded here offer great liquidity and offer investors the option of contracts in four different sizes as outlined below with their other key features:

    Gold
    • Ticker GOLD
    • Trades during 6 months of the year i.e. February, April, June, August, October, December (Monday - Saturday)
    • 1 contract = 1 kg of gold
    • Initial margin: 4%
    • Daily price limit: 3%
    • Upper limit on positions: Up to 2.5 MT for individual clients; higher of 12.5 MT or 15% of open position on market for all clients together through a member
    • Quality: 995 purity, 999 purity
    Gold Mini:
    • Ticker GOLDM
    • Trades in all 12 months i.e. January to December (Monday - Saturday)
    • 1 contract = 100 grams of gold
    • Initial margin: 4%
    • Limits on positions: Up to 2.5 MT for individual clients; higher of 12.5 MT or 15% of open position on market for all clients together through a member
    • Quality: 995 purity, 999 purity
    Gold Guinea:
    • Ticker GOLDGuinea
    • Trades in all 12 months i.e. January to December
    • 1 contract = 8 grams of gold
    • Limits on positions: Up to 2 MT or up to 250,000 contracts at one time
    Gold Petal:
    • Trades in months as specified by the exchange
    • 1 contract = 1 gram of gold
    • Limits on positions: Up to 2,000,000 contracts at one time

    Information is now available online from a number of sources both authoritative as well as informational. This facilitates decision making to save time and effort. Besides the latest gold rates and factors that affect gold prices, information is available on gold production, trades, different forms of gold (physical and paperless), leading jewellers etc. Experts also publish their views on gold as an asset as well their outlook on the performance of gold.

    Gold Weight Conversion Table

    To convert from To Multiply by
    Tonnes Troy ounces 32150.7
    Troy ounces Grains 480
    Kilograms Tolas 85.755
    Kilograms Bahts 68.41
    Kilograms Troy ounces 32.1507
    Troy ounces Grams 31.1035
    Million ounces Tonnes 31.1035
    Kilograms Taels 26.7172
    Troy ounces Penny weights 20
    Troy ounces Avoirdupois ounces 1.09714
    Avoirdupois ounces Troy ounces 0.911458
    Short tonne Metric tonne 0.9072
    Grams Troy ounces 0.0321507

    Why gold price is increasing in India?

    Gold rates in the country change on a regular basis, with a number of factors impacting rates. A close look at recent trends could highlight the reason for such changes. Some of the most common factors impacting gold rates in India are mentioned below.

    • Demand and supply – Gold rates increase when the demand exceeds supply. Gold, being a natural resource is available in limited quantities, and each time the supply reduces there is a spurt in gold rates.

    • International relations – International trends have a deep impact on gold rates in India, primarily due to the fact that India depends on imports to meet local demand. Any changes in international relations could translate into a change in local gold rates.

    • US dollar – The US dollar plays a key role in determining international gold rates. A strong dollar results in poor gold performance and vice versa, resulting in costlier gold each time the dollar underperforms.

    • Market conditions – Gold is inversely proportional to market performance, with prices going up each time there is pressure on markets.

    • Government taxes and duties – The government imposes taxes and duties on a number of commodities, including gold. Any increase in these taxes automatically pushes gold rates, pinching the pocket of buyers.

    There has been a recent increase in gold rates due to improved performance on the international front. The US Federal Policy rate change had a huge impact on prices, helping them pick up after a poor performance last year. One could see a further hike in rates in the coming weeks, as the US Central Bank is set to change its rates, which are likely to have a direct impact on gold.

    What are the different purity levels in gold?

    Gold is often purchased by weight and purity, with the purity measured in a unit called Karat. Gold is available in different purities, with the popular ones being 24 karat, 22 karat and 18 karat. While 24 karat gold is used extensively as an investment, 22 and 18 karat gold can be used to make jewellery and ornaments.

    22 karat gold is a mixture of gold and alloys, in the ratio 11:1. This essentially means that 1 gram of 22 karat gold has around 91.5% pure gold, with other metals making up the remaining portion. These impurities are added to pure gold to make it more malleable and ductile, thereby making it perfect for jewellery.

    Similarly, 18 karat gold is a mixture of gold and metals in the ratio 3:1, i.e. 75% pure gold and 25% metals. This is typically cheaper than 22 and 24 karat gold on account of impurities. 18 karat gold typically has a dull colour, making it easily recognisable.

    Other gold options include 14 karat gold (which has 58% gold), 10 karat gold (with 42% gold) and 6 karat gold (with 25% gold).

    Which is the best investment option: Physical Gold, Gold ETFs, or Sovereign Gold Bonds?

    In this section, we talk about all three investment options pertaining to gold and determine which of these is better.

    Factors Physical Gold Gold ETFs Sovereign Gold Bonds
    Liquidity Offers high liquidatable. It can be invested or exited any time an individual wants to. ETFs also offers highly liquidity option. It can be traded on the stock exchange and can be liquidated during a trading session. However, the cost of selling is quite low compared to physical gold. Can be bought from local banks and trade exchanges. Again, the cost of buying and selling is quite low compared to physical gold.
    Safety Is highly susceptible to thefts and burglary. Very safe as it is stored in a dematerialised form in a DEMAT account. Again, SGBs are kept in a DEMAT account and offers optimum safety.
    Loan facility Easily available. Loans can be availed against gold ETFs. Not available
    Investment flexibility Can be invested in a short time frame. Can be bought in shorter quantities and requires less maintenance. Can be bought in shorter quantities and requires less maintenance.
    Tax Liability All three avenues are taxed in a similar manner. To start off, any investment that is kept for more than three years is considered a long term holding and is eligible for Long Term Capital Gains (LTCG) tax, which currently remains at 20% after indexation. If they are held for less than 3 years, they are considered a short term holding and is taxed based on the individual’s tax slab Note that, Sovereign Gold Bonds offers one advantage on the tax front, wherein the gains are tax exempt if the investment is redeemed after the maturity period.

    Taxes on Gold in India

    Gold as a commodity attracts taxation in India, and depending on what it is used for, the taxes levied on the resource differ.

    Tax on Purchase of Gold

    Most gold in India is imported, with the result that gold is subject to customs duty. The customs duty payable on gold stands at 10% of the total value of the gold. In addition, processing charges associated with purchase would be taxed at 5%.

    The sale of gold in India brings it under the purview of GST (Goods and Services Tax) that was introduced in 2017. The GST on gold was set at 3%. As a result, the total tax payable on gold stands at 14% at present.

    Income Tax on Gold

    Any profit made from the sale of gold attracts income tax and both individuals as well as industry/jewellers are required to pay income tax in such a case.

    The profit derived from the sale of gold falls under ‘Capital Gains Tax’ and details of tax liabilities and possible exemptions are mentioned below:

    • Gold or gold jewellery bought and sold within a period of 3 years (36 months) is considered a short-term capital asset and would be taxed at the applicable rate (this is subject to change as announced by the government).
    • Gold or gold jewellery bought and sold after a period of 3 years (36 months) is considered a long-term capital asset. Whether the gold was bought or given as a gift or received in the form of an inheritance, it would come under the long-term capital asset category. The taxes and other surcharges would be calculated accordingly.
    • Gold received as a gift is exempt from tax if the value of the gold is less than Rs.50,000.

    In the event of gold being sold and no profit being made from the sale, there is no tax since it is considered a ‘capital loss’ and can be listed at the time of filing income tax returns.

    Gold Rate in the Most Popular Indian Cities

    Trend of Gold Rate in India for September 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.5,287 per gram
    September 30 Rate Rs.5,336 per gram
    Highest Rate in September Rs.5,499 per gram on 17 September
    Lowest Rate in September Rs.5,103 per gram on 26 September
    Overall Performance Incline

    September 2020 - Week 1 (1 - 6):

    • Gold price in India opened the month of September at Rs.5,287 per gram on 1 September after declining substantially compared to the closing price of the previous month at Rs.5,456 per gram.
    • On 2 September, the price of the metal increased marginally to Rs.5,292 per gram and crossed the Rs.5,400 per gram mark on the following day at Rs.5,461 per gram on 3 September.
    • At the end of the week, the gold rate closed at Rs.5,412 per gram with an overall incline for the week.

    September 2020 - Week 2 (7 - 13):

    • In India, gold opened the second week of September at Rs.5,413 per gram. There was a minimal increase in the rate of the yellow metal when compared to the closing price of the previous week.
    • The price of gold increased in the country over the next few days and recorded its highest price for the month on 11 September. A gram of the 24-karat gold was retailed for Rs.5,483 on the mentioned date.
    • Gold rate in India slipped over the last two days of the week and closed at Rs.5,439 per gram. The overall performance witnessed a declining trend in the rates.

    September 2020 - Week 3 (14 - 20):

    • Gold opened the third week of September at Rs.5,440 per gram in India. When compared to the closing price of the previous week, there was a minimal increase in the rate of the yellow metal.
    • The price of gold increased in the country over the next few days and recorded its highest price for the month on 17th September. On the mentioned date, a gram of the 24-karat gold was retailed for Rs.5,499.
    • Gold rate in India closed the week at Rs.5,287 per gram with the overall performance being stable.

    September 2020 - Week 4 (21 - 27):

    • In the fourth week of the month, gold prices opened at Rs.5,488 per gram on 21 September and showed a declining trend throughout the week. On 22 September, gold price in India dipped marginally to Rs.5,477 per gram.
    • On 24 September, the metal fell below the Rs.5,400 per gram mark at Rs.5,347 per gram and decreased further on the following day at Rs.5,319 per gram.
    • The gold rate hit its lowest on 26 September at Rs.5,103 per gram due to the rise in the dollar value and increased risk appetite. At the end of the week, gold closed at Rs.5,303 per gram.

    September 2020 - Week 5 (28 - 30):

    • Gold price opened the final week of September at Rs.5,304 per gram in India. There was an increase of Re.1 when compared to the closing price of the previous week.
    • While the price of gold slipped the next day, it recovered on the final day of the month.
    • Gold price in India closed September at Rs.5,336 per gram. The overall performance of the yellow metal witnessed a declining trend in the rates.

    Trend of Gold Rate in India for August 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.5,481 per gram
    August 31 Rate Rs.5,456 per gram
    Highest Rate in August Rs.5,930 per gram on 9 August
    Lowest Rate in August Rs.5,346 per gram on 2 August
    Overall Performance Decline

    August 2020 - Week 1 (1 - 9):

    • At the beginning of August, gold price in India opened at Rs.5,481 per gram and had inclined by Rs.180 compared to its previous closing at Rs.5,301 per gram at the end of August.
    • Gold rate showed an inclining trend with the rising number of COVID-19 cases all over the world along with stimulus packages being released by the U.S. Federal Reserve to help the economy stabilise.
    • The metal crossed the Rs.5,500 per gram mark on 6 August and hit record highs at Rs.5,930 per gram on 9 August, closing the week at an overall incline.

    August 2020 - Week 2 (10 - 16):

    • Gold price in India at the start of the second week of August was Rs.5,562 per gram. There a massive drop in the rate of the precious metal when compared to the closing price of the previous week.
    • Gold price saw a lot of fluctuations over the week in the country. While the rates fell on 11th and 12th of August, gold price recovered and climbed to Rs.5,591 per gram on 14th August.
    • The price of the yellow metal closed the week at Rs.5,510 per gram with the overall performance witnessing an inclining trend.

    August 2020 - Week 3 (17 - 23):

    • Gold price in India during the third week of August opened at Rs.5,511 per gram on 17 August and dipped marginally on 18 August to Rs.5,510 per gram. The metal held steady on 19 August.
    • On 20 August, the value of the metal increased to more than Rs.5,600 per gram to Rs.5,657 per gram and dipped yet again on 21 August to below the Rs.5,600 per gram mark to Rs.5,586 per gram.
    • Gold rate on 22 August was Rs.5,596 per gram, increasing marginally compared to the previous day’s closing value. Gold price decreased and closed at Rs.5,596 per gram.

    August 2020 - Week 4 (24 - 31):

    • Gold price in India at the start of the final week of August was Rs.5,562 per gram. When compared to the closing price of the previous week, there was an increase of Re.1 in the price of the fuel.
    • Gold price slipped in the country over the next few days before increasing to Rs.5,521 per gram on 28th August. The price of the precious metal dipped again the following day before increasing over the last two days of the month.
    • The price of gold closed the month at Rs.5,456 per gram with the overall performance witnessing a declining trend.

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    • Gold prices dip to 8-month low on weak global trends

      Prices of gold fell to an eight-month low of Rs.46,772 per 10 grams.

      The rate of gold prices for delivery in April on the MCX opened on poorly at Rs.46,800 and dropped to a low of Rs.46,459 per 10 grams only to recover at Rs.46,899 on Wednesday.

      Silver for March delivery traded at Rs.69,507/kg and touched a low of Rs.68,560.

      Rate of gold in the spot market slumped 2% to Rs.46,644 per 10 grams against Rs.47,407. Gold prices have dropped 4% from Rs.48,745 per 10 grams logged on February 1 due to extra tax being levied upon it after the Union Budget. Silver fell 6% from Rs.73,043 at the start of February.

      19 February 2021

    • Gold prices see a marginal decline due to international trends

      The price of gold in the market dipped due to a muted trend seen in the international market. On the Multi Commodity Exchange, gold contracts for April delivery were traded lower by 0.13% at Rs.47,195 per 10 grams. Silver futures for March also recorded a marginal decline by 0.27% at Rs.68,555 per kg.

      On 5 February, both gold and silver prices recorded positive trends in the domestic market. Gold futures for April were at Rs.47,256 per 10 grams and silver for March was at Rs.68,738 per kg.

      According to sources, gold prices has seen support at the $1,800 - $1,784 per ounce level and silver would have support at the $26.40 - $25.88 per ounce levels.

      9 February 2021

    • Yellow metal holds above Rs 49,100

      The prices of gold dropped in Indian markets on January 25. On the Multi-Commodity Exchange (MCX), February gold contracts traded lower by 0.04% at Rs.49,119 for 10 grams . March silver dropped 0.34% percent at Rs.66,871 a kilogram.

      Prices of Gold and silver settled on a weaker note in global markets on January 22.

      25 January 2021

    • Gold lacklustre as a strong dollar weighs heavy

      Gold showed a lacklustre performance in the domestic market in the early trade on January 18, due to the rise in the US dollar.

      On the Multi-Commodity Exchange (MCX), February gold contracts dropped by 0.07% percent at Rs.48,668 for 10 grams.

      Gold prices slipped to Rs.48,702 per 10 gram in the previous trading session on January 15, as investors increased their short position. Gold ended with a loss of Rs.116 or 0.24% for the week.

      18 January 2021

    • Gold rates increase to one-month high

      Gold and silver rates had increased in the Indian markets and tracked firm global prices. On the MCX, the gold futures for February had increased by 1.4% and reached a one-month high and reached Rs.51,009 per 10 gram and the silver futures had increased by 5.4% (Rs.3,600) and reached Rs.71549 per kg.

      In the international markets, the gold rates had increased after top U.S. lawmakers agreed on a $900 billion COVID-19 economic relief package. The spot gold had risen by 1.1% and reached $1,900.57 per ounce. The silver rates had increased by 4.5% and reached $26.93 per ounce.

      21 December 2020

    • Gold rates increase in the international market

      Gold futures on the MCX had increased by 0.62% (Rs.305) and reached Rs.49,252 per 10 grams. Silver futures had increased by 0.77% and reached Rs.63,812 per kg.

      In the spot market, gold rates had increased to Rs.48,169 per 10 gram.

      4 December 2020

    • Gold prices traded higher at the end of the previous week

      Gold prices in India increased on 23 October after recording a decline in the previous session due to international factors. The price of the metal dipped by 1% in the session on Thursday. On the Multi Commodity Exchange, gold contracts for December were trading higher by 0.15% at Rs.50,844 per 10 grams. Silver futures for December, however, was trading marginally low by 0.04% at Rs.62,587 per kg.

      Gold and silver rates dipped late last week after the dollar value increased in the international markets as the talks about a stimulus package faded.

      In the international market, gold prices were holding at $1,904.60 per ounce after a loss of 1% and silver prices settled at $24.71 per ounce, recording a decline of more than 2%.

      27 October 2020

    • Gold prices steady at Rs 51,147/10 gm

      Prices of gold gold remained flat at Rs 51,147 per 10 gram in the Mumbai retail market due to a weaker rupee and negative global cues. The yellow metal traded flat as dollar rebounded after hitting a session low of $1,915/oz.

      The US dollar index traded marginally higher at 93.23 levels up 0.14% .

      The price of 10 gram 22-carat gold in Mumbai was Rs.46,851 plus 3% GST, while 24-carat 10 gram was Rs.51,147. The 18-carat gold was recorded to be at Rs.38,360 in the retail market.

      The gold/silver ratio stands at 82.24 to 1, which means the amount of silver required to buy one ounce of gold.

      Silver prices dropped Rs.418 to Rs 62,188 per kg from its closing on October 12.

      14 October 2020

    • Price of gold soars above Rs.50,000 today

      The gold futures in October in India were trending above Rs.50,000 per 10 gm on 29 September 2020, on the back of positive trends in global spot prices. On the Multi-Commodity Exchange (MCX), gold contracts in October traded 0.13% higher, priced at Rs.50,199 per 10 gram. Silver futures of December traded at Rs.60,592 per kg which was 0.3% higher. This was a rebound from the lows that gold and silver had due to a weak dollar and was on the basis of hopes around a US Federal reserve stimulus that would further support the US economy in the midst of the coronavirus pandemic. The December futures of gold finally consolidated at Rs.50138 per 10 gram. The December futures of silver was Rs.60396 per kg previously.

      29 September 2020

    • Gold prices see a marginal increase in India on 16 September 2020

      Gold futures prices in India increased marginally on 16 September 2020 even though the trend was muted in the international markets. The value of the US gained as well. Gold futures prices for the month of October increased by 0.06% and were at Rs.51,800 for 10 grams. Due to the recovery in the value of the dollar, the prices of gold recovered on 15 September 2020. In the international markets, the prices of gold were at $1,966.20 for an ounce. In the case of any currency debasement or inflation, investors move towards gold. Gold prices in the country are inclusive of 3% GST and 12.5% import duty. On 7 August, the prices of gold hit record highs in India.

      17 September 2020

    • Gold prices increase; silver priced in the Rs.66,000 per kg levels

      Gold prices increased marginally to cross the Rs.50,000 per 10-gram mark at Rs.50,882 per 10 grams on the Multi Commodity Exchange. Gold futures for October increased by Rs.80 after hitting an intraday high at RS.50,977 per 10 grams compared to its previous closing price of Rs.50,742 per 10 grams.

      The marginal rise in prices was due to a minor pullback amongst investors in the global equity markets ahead of the United States government releasing their Monthly payroll data.

      Silver futures for September was trading flat at Rs.66,875 per kg after hitting an intraday high at Rs.66,711 per kg. The metal had previously hit a lifetime high at Rs.77,949 per kg in the previous month.

      In the international market, spot gold was trading marginally higher by 0.3% at $1,935 per ounce and Comex gold was trading at $1,934 per ounce. Silver price increased by 0.2% and was $26.67 per ounce.

      4 September 2020

    • Gold rates increase and silver rates stand at Rs.68,500

      Gold rates had reversed from losses and gained amidst a recovery in global markets. This had been on the back of weak U.S. dollar that dipped after the U.S. labour market looked weak.

      The metal had then bounced back to gains overseas after the U.S. jobless claims had topped one million and the FOMC minutes had hinted at a lot of concerns about an economic recovery. On the MCX, gold had increased 41.5% to a high since the beginning of the year.

      23 August 2020

    • Gold prices plummet by 7.5% from record highs on a stronger dollar value

      Gold prices on 13 August dropped due to profit booking amongst investors as the U.S. dollar value increased against other currencies in the market. The development of a vaccine for COVID-19 from Russia also increased the risk appetite amongst investors. Gold prices fell by 3.4% in the previous session below the $1,900 per ounce levels.

      On the Multi Commodity Exchange, gold futures for October decreased by Rs.265 with a percentage decline of 0.51% to Rs.51,980 per 10 grams. Silver futures for September dropped marginally by 0.33% to Rs.66,354 per kg.

      Gold prices had hit its all-time high in the previous week at Rs.56,191 per 10 grams and silver prices hit an all-time high at Rs.77,949 per kg. The yellow metal dipped by more than Rs.4,000 per 10 grams and silver recorded a drop of more than Rs.10,000 at Rs.11,4115 per kg compared to its highest price.

      13 August 2020

    • Gold prices hit another record high in India on 4 August 2020

      Gold prices in India continued to hit record highs on 4 August 2020. Gold futures prices for the month of October on MCX increased by 0.2% and are at Rs.53,865 for 10 grams. In the last session, gold prices increased by Rs.267. In the international markets, the prices of spot gold were steady at $1,976.36 for an ounce. In the previous session, spot gold prices hit record highs. The main reason for the increase in prices were the worries about the economy because of the rise in the number of coronavirus cases. In the case of inflation and currency debasement, gold is considered as a safe haven. Gold prices in India are inclusive of 12.5% import duty and 3% GST. In the international markets, the prices of gold have increased by 30% in 2020.

      4 August 2020

    • Gold prices firm and value of silver increases as U.S. dollar value dips

      The price of gold increased marginally by Rs.72 to Rs.49,217 per 10 grams in Mumbai. With the rise in COVID-19 cases all over the country and the world, along with the value of the U.S. dollar dipping in the market, gold prices inclined. 22-karat gold in Mumbai was priced at Rs.45,083 per 10 grams and 24-karat gold was Rs.49,217 per 10 grams.

      With mixed global trends, gold prices were holding firm as the regional economy in Europe was struggling to recover. In the international market, gold prices held above the $1,800 per ounce level on Monday with increased safe-haven demand keeping its trend steady.

      Silver prices increased by Rs.605 to Rs.52,345 per kg on 21 July compared to its closing price in the previous week. In the futures market, gold futures for August increased by 0.06% at Rs.48,996 per 10 grams for a turnover of 8,055 lots.

      23 July 2020

    • Gold prices reduced for the fourth time over the last five days on 7 July 2020

      Due to muted prices in the international markets, the prices of gold reduced in India on 7 July 2020 (early trade). Gold futures prices for the month of August on MCX reduced by 0.03% and are at Rs.48,210 for 10 grams.

      This is the fourth time over the last five days that the prices of gold have fallen. However, the fall in rates has not been huge because of the rise in the number of coronavirus cases. In the last session, the prices of the yellow metal had increased by 0.34%. Last week, gold rates hit record highs and were at Rs.48,982 for 10 grams. In the international markets, the prices of spot gold increased and were at $1,784.99 for an ounce. Last week, the prices of spot gold hit an eight-year high and were at $1,788.96 for an ounce. According to John Hopkins University, over 1.15 crore people have been infected by the coronavirus. In times of financial and political uncertainties, investors move towards the yellow metal. According to a note provided by Kotak Securities, the increase in the number of coronavirus cases has led to expectations that more stimulus measures would be introduced by central banks and governments. There has been support for gold due to this. A weak US dollar also ensured that the prices of gold were cheaper for other currency holders.

      7 July 2020

    • Prices of gold decrease in India on 23 June 2020 after hitting record highs

      After hitting record highs in the previous session, the prices of gold reduced in India on 23 June 2020. Gold futures prices on MCX reduced slightly and are at Rs.47,920 for 10 grams.

      In the previous session, the prices of gold hit record highs and were at Rs.48,289 for 10 grams. In the international markets, the prices of gold increased due to the rise in the number of coronavirus cases. The number of coronavirus cases all over the world crossed the 9 million mark. According to the World Health Organisation, the number of infections has increased since the economies opened all over the world. Spot gold prices increased by 0.2% and are at $1,758.03 for an ounce. Gold futures prices in the US increased by 0.2% and are at $1,770.10 for an ounce. The global equity markets improved after the US President said that the trade agreement is still on with China. The prices of gold in India are inclusive of 3% GST and 12.5% import duty.

      23 June 2020

    • Gold prices decrease after increasing by Rs.700 in the previous session

      Due to the improvement in riskier assets, the prices of gold fell sharply in India on 5 June 2020. The reopening of economies was the reason for the improvement in riskier products.

      Gold futures prices on MCX decreased by 0.7% and are at Rs.46,369 for 10 grams. In the early trade, the equities market was firm. Procedures have been set by the health ministry for offices, hotels, restaurants, and shopping malls so that the spread of COVID-19 can be contained. Economies will further reopen from 8 June 2020. In the international markets, the prices of gold increased because of a weaker dollar. Spot gold prices increased by 0.2% and are at $1,714.78 for an ounce. Traders will be closely watching the US payroll data which will be announced later on 5 June 2020. A larger stimulus package has been approved by the European Central Bank. Gold prices hit record highs and crossed Rs.48,000 for 10 grams earlier in May. The tensions between China and the US ensured that the prices of gold remained high. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

      5 June 2020

    • Prices of gold increase again in India on 20 May 2020

      Due to the firmness of gold in the global markets, the prices of the yellow metal increased in India on 20 May 2020. Gold futures prices for the month of June on MCX increased by 0.6% and are at Rs.47,331 for 10 grams.

      Over the last six sessions, the prices of gold have increased five times, tracking global rally. Earlier this week, the prices of gold hit record highs and were at Rs.47,980 for 10 grams. Gold prices were also supported by the rupee depreciating. In India, the prices of gold include 3% GST and 12.5% import duty. In the international markets, the prices of gold increased as well. The tensions between China and the US also ensured that gold is considered a safe haven. The prices of gold are at $1,750.19 for an ounce. The prices of the yellow metal were also supported due to expectations that there would be additional measures that will be introduced by Central Banks. According to reports, Nasdaq may come out with restrictions that will make it difficult for certain Chinese companies to be listed there. Gold has been considered as a safe haven due to the coronavirus outbreak and the subsequent lockdown.

      20 May 2020

    • Gold prices increase in India after falling for three days in a row

      The prices of gold increased in India on 30 April 2020 after seeing a huge fall in the previous session. Gold futures prices for the month of June on MCX increased by 0.35% and are at Rs.45,700 for 10 grams.

      In the previous session, the prices of gold fell by Rs.566. Gold prices have fallen over the last three sessions. Earlier in April, gold rates hit record highs and were above Rs.47,000 for 10 grams. However, the prices have remained volatile since then. In the international markets, gold prices decreased slightly due to an improvement in risk appetite. Spot gold prices decreased by 0.1% and are at $1,708.85 for an ounce. Gold prices have been supported due to an increase in the number of coronavirus cases across the world. According to Kotak Securities, even though the yellow metal may witness a choppy trade, there will be support for gold because of a weak US dollar and the introduction of several measures by the Central Banks to help the economy. Gold prices in the country are inclusive of 12.5% import duty and 3% GST. In the case of currency debasement and inflation, the yellow metal tends to benefit. The fear of a global recession has also seen the prices of gold increase.

      30 April 2020

    • Prices of gold fall on 27 March 2020 after increasing by about Rs.4,000 in four days

      Tracking an appreciation of the rupee against the dollar and a fall in global rates, the prices of gold fell in India on 27 March 2020. Gold futures prices for the month of April on MCX reduced by 0.8% and are at Rs.43,195 for 10 grams.

      In the previous session, the prices of gold increased by Rs.1,300 for 10 grams. Gold futures prices for the month of June decreased by 0.5% and are at Rs.43,420 for 10 grams. Over the last four days, gold futures prices for the month of April have increased by Rs.3,700 for 10 grams. According to exchanges, commodities derivatives trading in the country will be reduced from 30 March 2020 and 14 April 2020. In the international markets, the prices of gold reduced slightly due to profit-taking. Spot gold prices decreased by 0.5% and are at $1,621.07 for an ounce. This week, the prices of gold have increased by more than 8%. The prices of gold have been affected by the coronavirus outbreak. The number of coronavirus cases has crossed the 5-lakh mark all over the world. According to a note from Kotak Securities, there have been concerns about the physical market activity and consumer demand due to the coronavirus outbreak. In India, the prices of gold are inclusive of a 3% GST and a 12.5% import duty.

      27 March 2020

    • Gold prices skid third day in a row

      The gold prices in India dipped again for the third day in a row. On the MCX, the gold futures had dropped by 0.1% to Rs.43,314 per 10 grams. The price of this precious metal has been very volatile in India post reaching a height of Rs.45,000 per 10 grams. When it comes to the overseas market, the price of gold had increased after WHO had declared the coronavirus to be a pandemic. The price of spot gold had risen by 0.6% to $1,645 per ounce.

      The announcement by WHO had also pulled the U.S. Dow Jones industries into a bear market and the index had dipped to 1,500 points.

      Silver had witnessed a much bigger fall in its prices as the metal had dipped by 1.3% to Rs.45,225 per kg. In the global market, the white metal had gained by 0.6% to $16.85 per ounce.

      12 March 2020

    • Gold prices hit record highs for the third consecutive day on 20 February 2020

      The prices of gold in India increased again on 20 February 2020 for the third day in a row. Gold futures prices for the month of April increased by 0.5% and hit Rs.41,798 for 10 grams.

      The prices of gold in India tracked the rates in the global market, which hit around seven-year highs. According to a note made by SMC Global, gold prices could move towards the Rs.41,900 levels and may take support near the Rs.41,600 levels. In the international market, the prices of gold nearly hit a seven-year high due to the impact of the coronavirus. The prices of gold in the international markets have increased by around 6% so far this year. Prices of spot gold were steady and were trading at $1,610.43 for an ounce. China announced that the interest rates have been cut in a move to improve the economy. The economy has been down due to the impact of the coronavirus. Expectations are also there for China to take certain measures to improve the economy. According to a few analysts, the prices of gold could go above $1,650 in the coming weeks. US Central Bank policymakers are optimistic that the interest rates can be held steady this year. However, they acknowledged the presence of new risks due to the coronavirus outbreak.

      20 February 2020

    • Union Budget 2020 to not be favourable to the bullion industry

      The Union Budget 2020 which was announced on 1 February 2020 by Finance Minister, Nirmala Sitharaman. The budget targeted many sectors in order to stablilize the slowing economy in the country. By offering balanced resources to sectors such as agriculture, infrastructure and commerce, the budget did not favour the bullion industry.

      India, being one of the largest contributors to the gem and jewellery industry contributes 29% of the world’s global jewellery consumption. However, the budget did not seem to target the issues faced by jewellers in the country such as cutting down the import duty of precious metals.

      Duties and taxes which were increased have prevented the involvement of retail investors. Catering to the Current Account Deficit, the import duty on gold was increased to 12.5% in the last budget from 10%. Due to higher import duty, smuggling and illegal import of the metal can increase and the threat of the grey-market by organised traders has been on a rise.

      If the import duty on the metal could be cut down, the chances of illegal import of gold could be cut down. Due to these and other factors, gold imports have been at the lowest level falling 12% compared to the previous year.

      Other proposals regarding the gold market were not considered for the budget either such as increasing the purchase limit of the metal to Rs.5 lakh instead of Rs.2 lakh without a PAN card.

      4 February 2020

    • Gold rates fall in India after three consecutive days of increasing

      The prices of gold in India reduced on 20 January 2020, following the prices in the international market. Gold futures prices for the month of February reduced by 0.08% and touched Rs.39,915 for 10 grams.

      This is the first reduction in prices after three sessions. According to a note made by SMC Global, the price of gold may see a sideways movement. The note further added that the prices of gold may move towards the Rs.40,100 levels and may take support near the Rs.39,600 levels. In the international markets, the prices of gold remained around the same levels as well as investors shifted towards riskier assets. The prices of gold increased by 0.1% and touched $1,558.47 for an ounce. The investment towards gold was also mixed. Even though the prices of gold reduced after reaching record highs, the demand for gold in India has been low. Earlier this month, the prices of gold hit record highs of Rs.41,000 for 10 grams. 3% GST and 12.5% import tax are included in the prices of gold. According to a report from Reuters’, dealers in the country were offering $11 for an ounce as a discount last week. This has increased from the previous week, where they were offering a 7% discount. However, with the wedding season coming soon, jewellers expect the demand to increase.

      21 January 2020

    Gold Rate In Metro Cities
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