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Gold Rate Today In India

India is one of the world's largest consumers of gold, from weddings to festivals, gold is used almost every time we celebrate. On the other hand, gone are the days when women used gold for mere adornment as an investment in gold is now universally recognised as one of the most effective ways to multiply savings.

Since time immemorial gold has been in use in the form of currencies and even today the importance of this golden metal is such that people from all walks of life use it for wealth creation. Considering the demand for gold, the gold price or rate keeps fluctuating.

Today Gold Price in Major Indian Cities

City22 Carat Gold Price Today24 Carat Gold Price Today
Jabalpur ₹57,600₹60,480
Hosur ₹57,600₹60,480
Udupi ₹57,600₹60,480
Jammu ₹57,600₹60,480
Vizianagaram ₹57,600₹60,480
Belgaum ₹57,600₹60,480
Gurgaon ₹57,600₹60,480
Nagercoil ₹57,600₹60,480
Erode ₹57,600₹60,480
Solapur ₹57,600₹60,480
Meerut ₹57,600₹60,480
Thrissur ₹57,600₹60,480
Chandigarh ₹57,600₹60,480
Raipur ₹57,600₹60,480
Amritsar ₹57,600₹60,480
Surat ₹57,600₹60,480
Proddatur ₹57,600₹60,480
Jalgaon ₹57,600₹60,480
Mangalore ₹57,600₹60,480
Ludhiana ₹57,600₹60,480
Bhopal ₹57,600₹60,480
Thane ₹57,600₹60,480
Nellore ₹57,600₹60,480
Bhubaneswar ₹57,600₹60,480
Nashik ₹57,600₹60,480
Kochi ₹57,600₹60,480
Visakhapatnam ₹57,600₹60,480
Salem ₹57,600₹60,480
Nagpur ₹57,600₹60,480
Patna ₹57,600₹60,480
Indore ₹57,600₹60,480
Lucknow ₹57,600₹60,480
Jaipur ₹57,600₹60,480
Mysore ₹57,600₹60,480
Madurai ₹57,600₹60,480
Coimbatore ₹57,600₹60,480
Ahmedabad ₹57,600₹60,480
Kolkata ₹57,600₹60,480
Vijayawada ₹57,600₹60,480
Pune ₹57,600₹60,480
Delhi ₹57,600₹60,480
Hyderabad ₹57,600₹60,480
Bangalore ₹57,600₹60,480
Chennai ₹57,600₹60,480
Karur ₹57,600₹60,480
Rourkela ₹57,600₹60,480
Varanasi ₹57,600₹60,480
Ghaziabad ₹57,600₹60,480
Shimla ₹57,600₹60,480
Nizamabad ₹57,600₹60,480
Shimoga ₹57,600₹60,480
Jhansi ₹57,600₹60,480
Ratlam ₹57,600₹60,480
Allahabad ₹57,600₹60,480
Berhampur ₹57,600₹60,480
Gorakhpur ₹57,600₹60,480
Ambala ₹57,600₹60,480
Ranchi ₹57,600₹60,480
Jodhpur ₹57,600₹60,480
Khammam ₹57,600₹60,480
Faridabad ₹57,600₹60,480
Kurnool ₹57,600₹60,480
Cuttack ₹57,600₹60,480
Udaipur ₹57,600₹60,480
Kozhikode ₹57,600₹60,480
Nanded ₹57,600₹60,480
Kolhapur ₹57,600₹60,480
Amravati ₹57,600₹60,480
Kakinada ₹57,600₹60,480
Latur ₹57,600₹60,480
Karimnagar ₹57,600₹60,480
Kumbakonam ₹57,600₹60,480
Ahmednagar ₹57,600₹60,480
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10-Jun-2023
Gold Price
₹60,480/10g
Day22 Carat24 CaratChange
Today₹57,600₹60,4800.0%
Yesterday₹57,600₹60,4800.0%
Above Price as per 10 gm
gold_img
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Today 22 Carat Gold Rate in India

Day1 gram8 gram10 gram100 gramChange
Today Price₹5,760₹46,080₹57,600₹5,76,0000.0%
Yesterday Price₹5,760₹46,080₹57,600₹5,76,0000.0%

Today 24 Carat Gold Rate in India

Day1 gram8 gram10 gram100 gramChange
Today Price₹6,048₹48,384₹60,480₹6,04,8000.0%
Yesterday Price₹6,048₹48,384₹60,480₹6,04,8000.0%

Investment Plan Vs Gold

**Disclaimer - The graph is based on hypothetical data and is meant only for concept understanding purposes.

Gold Rate / 10g in India for Last 10 Days

Date22 Carat Gold Price Today24 Carat Gold Price Today
10-Jun-2023₹57,600+0.0₹60,480
09-Jun-2023₹57,600+0.0₹60,480
08-Jun-2023₹57,600+0.0₹60,480
07-Jun-2023₹57,600+0.0₹60,480
06-Jun-2023₹57,600+0.0₹60,480
05-Jun-2023₹57,600+0.0₹60,480
04-Jun-2023₹57,600+0.0₹60,480
03-Jun-2023₹57,600+0.0₹60,480
02-Jun-2023₹57,600+0.0₹60,480
01-Jun-2023₹57,600+0.0₹60,480
31-May-2023₹57,600+0.0₹60,480

Historical Gold Rates in India

MonthsLowest Price (24 Carat) Gold rate/ 10gramHighest Price (24 Carat) Gold rate/ 10gram
Aug,2022₹51,230₹52,530
Sep,2022₹50,110₹51,320
Oct,2022₹50,550₹52,360
Nov,2022₹50,900₹52,670
Dec,2022₹50,840₹52,200
Jan,2023₹53,040₹56,910
Feb,2023₹55,230₹57,440

Factors Affecting Gold Price In India

Gold demand in our country is so high that India represents 25% of worldwide gold demand. The gold prices in India keep changing especially during the wedding season due to the rapid surge in demand at the time. There are many other factors too that affect the gold price in India. Thus, listed below are some of the factors that affect the gold price in India that gold investors must keep in mind while purchasing gold in India.

  • Inflation: As compared to currency, the price of gold surges during the period of inflation and vice versa. This is because the price of commodities increases during inflation, thereby affecting gold prices too. Many investors thus use gold to hedge inflation as this golden metal shines, even more, when inflation hits.
  • Value of US Dollar: The relationship between the rupee and the US dollar is another important factor that affects the value of gold in India. Gold price in India and the value of US dollars have an inverse relationship to play as the moment the US dollar strengthens, the value of gold in India depreciates and vice versa.
  • Festivals: Indian festivals are incomplete without the use of gold, just like weddings in India. The price of gold rises during festivals like Diwali, Akshay Tritya, etc, as during this time demand for gold is exceptionally high. The inability to meet the demand-supply equation is what tends to affect the price of gold during Indian festivals.
  • Cost of Imports: The demand for gold in India is mainly met by imports. As a result of which the import costs heavily affect the gold price in India. If the import cost increases or decreases, the price of gold also varies accordingly.
  • Political Turmoil: During political turmoil or wars, the price of most financial assets falls down. In a situation like this when times are highly uncertain and unpredictable, people tend to invest more and more in gold as a safe haven, which in turn shoots up the price of gold.
  • Bank Interest Rates: The more the rate of interest, the lower the rate of gold. The reason for this is that people tend to sell gold in order to acquire cash when the rates become high. On the other hand, when the interest rate decreases, the rate of gold inversely rises.

In addition to these, there are several more global and domestic factors that have a role to play in affecting the gold rates, however, the bottom line still remains the same gold is one of the best modes of financial investment.

Sovereign Gold Bond Scheme And Investment

Gold is a precious and auspicious metal in India that is often prone to theft or burglary. Thus, in order to escape such a situation as well as earn greater interests, the government of India launched an alternative to the physical gold which is called the Sovereign Gold Bond. But, before digging more into it, let’s first understand what the Sovereign Gold Bond Scheme is.

What is the Sovereign Gold Bond Scheme?

On behalf of the Government of India, the Reserve Bank of India launched the Sovereign Gold Bond Scheme in 2015. As the name already suggests, the gold bonds are basically denominated per grams of gold. The interest rate for this is 2.5% per annum which is paid on a semi-annual basis and the tenure for the scheme is 8 years. However, investors can make an exit in the 5th, 6th, or 7th year of the scheme.

Benefits of Sovereign Gold Bond Scheme

As compared to physical gold, there are a bunch of benefits of the Sovereign Gold Scheme, some of which are enumerated below:

  • A scheme like this helps is cost-effective as compared to physical gold. The reason is that since these are digital bonds, it saves the effort as well as money to safeguard physical gold in banks.
  • Sovereign Gold Bond Scheme investing is also passive income, which means the investor receives money as part of the interest rate.
  • Sovereign Gold Bond Scheme also protects investors from the risk of purity and hefty making charges that are incurred upon buying physical gold.

In a nutshell, it is right to say that individuals who are looking for long-term investment can surely opt for buying the Sovereign Gold Bond Scheme instead of physical gold.

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FAQs

  • How is the hallmarked gold rate today determined in India?

    The rate of hallmarked gold in India is like any other gold and thus the price remains the same. However, the only difference is that hallmarked gold possesses high quality and thus it is wise to buy hallmarked gold anywhere in India.

  • How is gold an asset?

    Gold is one of the safest assets in India and is used to hedge inflation and even protect investors during turbulent times. Thus, many people invest in gold as it offers the most protected haven against financial instability.

  • How is gold price determined in India?

    Today, gold price in India is determined by several factors including inflation, US dollar value, interest rates, global demand for gold, and a few more. All these factors affect the price of gold in India either in a positive or negative manner.

  • How to keep your gold safe in India?

    Many people tend to keep their gold in bank lockers to safeguard their priced gold from robbery. On the other hand, many people also buy ETFs which are electronic forms of gold as doing so eliminates the risk of robbery or even fraud.

  • Are there restrictions on gold imports in India?

    Yes, gold imports in India are subject to restrictions as you are eligible to carry a maximum of only 1 kg of gold to India.

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