Gold Rate in India – February 1, 2025
Gold is a precious and highly valued asset in India, often regarded as a safe investment choice. The price of gold fluctuates frequently, depending on various factors such as international market trends, currency values, and local taxes. Let’s explore the current gold rates in India and other essential details related to the precious metal.
Gold Prices in India (1st February 2025)
- 24 Carat Gold (10 grams): ₹84,513 (+₹1,310)
- 22 Carat Gold (10 grams): ₹77,483 (+₹1,200)
Gold prices in India can vary slightly depending on the region due to local taxes, transportation costs, and demand. Here are the updated gold prices across major Indian cities.
Gold Price in Metro Cities (1st February 2025)
| City | 22 Carat (₹ per 10 gm) | 24 Carat (₹ per 10 gm) |
|---|---|---|
| Bangalore | ₹77,325 (+₹1,200) | ₹84,355 (+₹1,310) |
| Chennai | ₹77,331 (+₹1,200) | ₹84,361 (+₹1,310) |
| Delhi | ₹77,483 (+₹1,200) | ₹84,513 (+₹1,310) |
| Kolkata | ₹77,335 (+₹1,200) | ₹84,365 (+₹1,310) |
| Mumbai | ₹77,337 (+₹1,200) | ₹84,367 (+₹1,310) |
| Pune | ₹77,343 (+₹1,200) | ₹84,373 (+₹1,310) |
Gold Price in Different Cities in India (1st February 2025)
| City | 22 Carat Price | 24 Carat Price |
|---|---|---|
| Ahmedabad | ₹77,391 | ₹84,421 |
| Amritsar | ₹77,510 | ₹84,540 |
| Bhopal | ₹77,394 | ₹84,424 |
| Bhubaneswar | ₹77,330 | ₹84,360 |
| Chandigarh | ₹77,492 | ₹84,522 |
| Coimbatore | ₹77,350 | ₹84,380 |
| Faridabad | ₹77,515 | ₹84,545 |
| Gurgaon | ₹77,508 | ₹84,538 |
| Jaipur | ₹77,476 | ₹84,506 |
| Kanpur | ₹77,503 | ₹84,533 |
| Kerala | ₹77,355 | ₹84,385 |
| Kochi | ₹77,356 | ₹84,386 |
| Lucknow | ₹77,499 | ₹84,529 |
| Madurai | ₹77,327 | ₹84,357 |
| Meerut | ₹77,509 | ₹84,539 |
| Nagpur | ₹77,351 | ₹84,381 |
| Nashik | ₹77,387 | ₹84,417 |
| Patna | ₹77,379 | ₹84,409 |
| Surat | ₹77,398 | ₹84,428 |
| Vadodara | ₹77,404 | ₹84,434 |
| Vijayawada | ₹77,345 | ₹84,375 |
| Visakhapatnam | ₹77,347 | ₹84,377 |
Gold Price Trends for the Last 05 Days
| Date | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| 31 Jan 2025 | ₹76,283 (+₹150) | ₹83,203 (+₹170) |
| 30 Jan 2025 | ₹76,133 (+₹870) | ₹83,033 (+₹940) |
| 29 Jan 2025 | ₹75,263 (-₹300) | ₹82,093 (-₹320) |
| 28 Jan 2025 | ₹75,563 (-₹150) | ₹82,413 (-₹170) |
| 27 Jan 2025 | ₹75,713 (-₹10) | ₹82,583 (-₹10) |
| 26 Jan 2025 | ₹75,723 (-₹10) | ₹82,593 (-₹10) |
| 25 Jan 2025 | ₹75,733 (+₹320) | ₹82,603 (+₹350) |
| 24 Jan 2025 | ₹75,413 (-₹20) | ₹82,253 (-₹20) |
| 23 Jan 2025 | ₹75,433 (+₹750) | ₹82,273 (+₹860) |
| 22 Jan 2025 | ₹74,683 (0.00) | ₹81,413 (0.00) |
What Affects Gold Prices in India?
Gold prices in India are influenced by a variety of factors, both domestic and international. Some key factors include:
- International Gold Prices: Gold is traded in U.S. Dollars, so fluctuations in global prices can affect local rates, especially if the U.S. Dollar strengthens or weakens.
- Currency Exchange Rates: A weakening of the Indian Rupee against the U.S. Dollar makes gold more expensive in India.
- Import Duties: The Indian government levies a 10% import duty on gold, which directly influences the price of gold in the domestic market.
- Economic and Geopolitical Factors: Gold prices tend to rise during uncertain times or economic downturns, as people seek safer investments.
Types of Gold in India
Gold comes in two primary forms in India: 22K and 24K.
- 24K Gold: This is pure gold, with a purity of 99.99%. It is soft and is rarely used for making jewelry.
- 22K Gold: Comprising 91.67% gold, it is mixed with other metals like copper or zinc to enhance durability, making it more suitable for jewelry.
FAQs About Gold
1. Why should you invest in gold?
Gold is considered a safe-haven investment, especially in times of economic instability. It helps diversify your portfolio and serves as a hedge against inflation.
2. What are the various forms of investing in gold?
Investors can buy physical gold (coins, bars, or jewelry), or invest in gold ETFs, Sovereign Gold Bonds, or gold mutual funds.
3. Does India import gold?
Yes, India is one of the largest importers of gold globally, primarily for the jewelry sector. It imports around 800-900 tons of gold annually.
4. How are gold prices determined in India?
Gold prices in India are determined by international prices, the exchange rate of the Rupee against the Dollar, local taxes, and import duties.
5. What is the difference between 22K and 24K gold?
- 24K Gold is 99.99% pure but is too soft to be molded into jewelry.
- 22K Gold is 91.67% pure, mixed with other metals for added strength and durability.
6. What is pure gold?
Pure gold refers to 24K gold, which is 99.99% pure and is the most unadulterated form of gold available.
7. What is hallmarking of gold?
Hallmarking is the certification process that guarantees the purity of gold. It ensures that the gold purchased is genuine and up to the stated purity standards.
8. Who is responsible for hallmarking gold in India?
The Bureau of Indian Standards (BIS) is responsible for hallmarking gold in India, ensuring consumers receive gold of the correct purity.
9. What does KDM gold mean?
KDM gold is an alloy that contains gold mixed with a small percentage of cadmium. It was once common in jewelry, but due to health concerns, its use has decreased.
Conclusion
Gold continues to be an essential part of the Indian economy, both as a commodity and a form of investment. Whether you’re looking to buy gold for jewelry or as an investment, staying updated on the latest prices and market trends is crucial. Keep an eye on the gold rates to make informed decisions, and remember to consider factors like purity, taxes, and geopolitical events when making your gold purchases.