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Monday, Feb 6, 2023

Gold Rates Today in India

Updated on 06 Feb, 2023
580800.00
24 Carat Gold Rate (10 grams)
532500.00
22 Carat Gold Rate (10 grams)

India is world’s second biggest consumer of gold, after China. Bulk of the gold requirement is met through imports and domestic bullion recycled locally. So apart from international prices, which is denominated in dollar, import duties and other taxes play a role in determining domestic gold rates. Bullion is seen as a hedge against inflation but bond yields and the dollar rate also have a bearing on the prices of the precious metal. Here are latest gold prices in major Indian cities.

Graph of Gold Price in India

Gold Price in Metro Cities 06 undefined,2023

    Find Gold price in your region

    Gold Rate Comparison 22 Carat vs 24 Carat

    Gold Rate in Different Cities in India

    • City Name

    • 22 Carat Price

    • 24 Carat Price

    Show More

    Gold Rate for Last 15 Days

    • Dates

    • 22 Carat Price

    • 24 Carat Price

    • Feb 05, 2023
    • 53250 0.00
    • 58080 0.00
    • Feb 04, 2023
    • 53250 -510.00
    • 58080 -540.00
    • Feb 03, 2023
    • 53760 610.00
    • 58620 640.00
    • Feb 02, 2023
    • 53150 510.00
    • 57980 560.00
    • Feb 01, 2023
    • 52640 -160.00
    • 57420 -170.00
    • Jan 31, 2023
    • 52800 0.00
    • 57590 0.00
    • Jan 30, 2023
    • 52800 150.00
    • 57590 170.00
    • Jan 29, 2023
    • 52650 0.00
    • 57420 0.00
    • Jan 28, 2023
    • 52650 -600.00
    • 57420 -660.00
    • Jan 27, 2023
    • 53250 400.00
    • 58080 430.00
    • Jan 26, 2023
    • 52850 0.00
    • 57650 0.00
    • Jan 25, 2023
    • 52850 350.00
    • 57650 380.00
    • Jan 24, 2023
    • 52500 100.00
    • 57270 60.00
    • Jan 23, 2023
    • 52400 -100.00
    • 57210 -60.00

    More on Gold

    Gold is a precious metal and is considered an attractive investment option. The gold prices in India fluctuate as per market situation and are keenly monitored during the time of trading.

    There are two types of gold traded in India, i.e, 24K and 22K. The first one is considered the purest form of gold with a purity of 99.99 per cent. It is too soft to be moulded into jewellery. On the other hand, 22k gold is basically 22 parts of gold and two other metals like copper and zinc. It is used to make jewellery.

    India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms, the country imports 800-900 tonne of gold annually.

    The price of gold depends on several factors including currency, global developments, interest rates etc. If the rupee weakens against US dollar, the price of gold will go up. Gold price is also dependent on international factors like global economic growth, volatile policies and interest rates.

    In Indian cities, gold prices depend on various factors like demand, state taxes, octroi, interest levied etc. Gold can be bought in the form of bars, coins and jewellery. The investment options include physical gold, exchange trade funds and sovereign bonds.

    Currently, the import duty on gold in India stands at ten per cent. The central government keeps on changing the import duty depending on the need to curb imports.

    Gold is considered as a safe investment tool. It also acts as an excellent hedge against inflation. Amid the geopolitical situation, people have now turned to gold as a safe investment tool.

    In India, gold is officially marked by the Bureau of Indian Standards. It is called hallmarking and acts as a guarantee of the precious metal's purity. It protects the buyer from adulteration of gold.

    FAQs About Gold

    Why should you invest in gold?

    Gold is considered as a safe and reliable mode of investment. It acts as an excellent hedge against inflation. It is also an excellent portfolio diversifier

    What are the various forms of investing in gold?

    Gold is traded in the form of bars, coins, bullions, jewellery, exchanges, exchange trade funds etc

    Does India import gold?

    India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms, the country imports 800-900 tonne of gold annually.

    How are gold prices determined in India?

    Gold prices in India are determined on several factors including currency, global demand, interest rates and government policies. If the rupee slides against the US dollar in India, gold will become expensive.

    What is the difference between 22K and 24K gold?

    K or karats is a term used to measure the purity of gold. In simple words, 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc. It is harder than 24K gold due to presence of other metals. It is suited for making jewellery.

    What is pure gold?

    As mentioned earlier, 24 karat of gold is called pure gold with a purity of 99.99 per cent. It is liquid in the state and cannot be moulded to make bars, jewellery etc. As a result, it is mixed with other metals like copper and zinc to form an alloy. For example, 22K gold is a mix of 22 parts of gold.

    How are gold rates determined in cities in India?

    The gold prices in Indian cities depend on various factors like demand, state taxes, octroi charges, interest levied, bullion associations, transportation costs etc.

    What is hallmarking of gold?

    It is the official marking of precious metals by the Bureau of Indian Standards. It is the guarantee of a metal's fineness or purity.Its main objective is to protect the buyer from adulteration and also obligate the manufacturers to ensure legal standards of fineness.

    Who is responsible for hallmarking gold in India?

    The Bureau of Indian Standards (BIS) is a national body entrusted with the harmonious development of the activities of standardization, marking and quality certification of goods. It has a hallmarking system for gold and silver in India.

    What does KDM gold mean?

    It is an alloy of 92 per cent gold and eight per cent of Cadmium. Although it is considered a high purity gold, but it has not been verified by BIS.