Gold Rates as of September 18, 2024
India is the second-largest gold consumer globally, trailing only behind China. Gold demand in India is predominantly fulfilled through imports and local recycling. Gold prices are influenced not only by international rates, which are quoted in US dollars, but also by import duties and other domestic taxes. Additionally, factors such as bond yields, currency fluctuations, and inflation contribute to gold price changes.
Gold in India:
- 24K Gold: Represents the purest form of gold (99.99% purity), often not used for jewelry due to its softness.
- 22K Gold: Contains 91.67% gold mixed with other metals like copper and zinc, commonly used in jewelry.
Here are the current gold prices in India for 22 Carat and 24 Carat gold across various cities:
| Date | Purity | City | Price (10g) | Change |
|---|---|---|---|---|
| Sep 18, 2024 | 24 Carat | Delhi | ₹73,510 | +180.00 |
| Sep 18, 2024 | 22 Carat | Delhi | ₹67,570 | +200.00 |
| Sep 18, 2024 | 24 Carat | Bangalore | ₹73,100 | +130.00 |
| Sep 18, 2024 | 22 Carat | Bangalore | ₹67,590 | +30.00 |
| Sep 18, 2024 | 24 Carat | Chennai | ₹73,130 | -150.00 |
| Sep 18, 2024 | 22 Carat | Chennai | ₹67,620 | +210.00 |
| Sep 18, 2024 | 24 Carat | Kolkata | ₹73,540 | +250.00 |
| Sep 18, 2024 | 22 Carat | Kolkata | ₹69,100 | +470.00 |
| Sep 18, 2024 | 24 Carat | Mumbai | ₹74,480 | +140.00 |
| Sep 18, 2024 | 22 Carat | Mumbai | ₹68,120 | -410.00 |
| Sep 18, 2024 | 24 Carat | Pune | ₹73,390 | +250.00 |
| Sep 18, 2024 | 22 Carat | Pune | ₹67,940 | +310.00 |
Gold Rates in Major Cities
| City | 22 Carat Price | 24 Carat Price |
|---|---|---|
| Ahmedabad | No Data Available | No Data Available |
| Amritsar | ₹69,940 | ₹74,600 |
| Bhopal | ₹67,890 | ₹73,290 |
| Bhubaneswar | ₹67,700 | ₹73,350 |
| Chandigarh | ₹69,930 | ₹74,810 |
| Coimbatore | ₹70,760 | ₹74,240 |
| Faridabad | ₹67,570 | ₹73,510 |
| Gurgaon | ₹67,570 | ₹73,510 |
| Hyderabad | ₹67,430 | ₹73,660 |
| Jaipur | ₹67,500 | ₹73,370 |
| Kanpur | ₹69,850 | ₹74,970 |
| Kerala | ₹70,510 | ₹75,160 |
| Kochi | ₹68,120 | ₹73,450 |
| Lucknow | ₹69,670 | ₹74,100 |
| Madurai | ₹69,040 | ₹73,370 |
| Mangalore | ₹67,360 | ₹73,170 |
| Meerut | ₹67,570 | ₹73,510 |
| Mysore | ₹67,720 | ₹74,150 |
| Nagpur | ₹68,530 | ₹73,050 |
| Nashik | ₹68,880 | ₹73,250 |
| Patna | ₹69,030 | ₹73,490 |
| Surat | ₹69,940 | ₹74,600 |
| Vadodara | ₹70,100 | ₹75,560 |
| Vijayawada | ₹69,480 | ₹74,410 |
| Visakhapatnam | ₹69,960 | ₹74,820 |
Overview of Gold Prices in India
As of September 18, 2024, the price for 10 grams of 24 Carat gold stands at ₹73,510, while 22 Carat gold is priced at ₹67,570. India’s demand for gold is significant, with the nation being the second-largest consumer globally, following China. Most of the gold supply is met through imports and local recycling.
Gold prices in India are influenced by a range of factors, including international market trends, currency fluctuations, and import duties. Typically, a weaker rupee against the dollar leads to higher gold prices.
Gold is traded in two primary forms in India: 24K (99.99% purity) and 22K (91.67% purity), the latter being the preferred choice for jewelry making.
For investment purposes, gold can be acquired in various formats, including physical gold, exchange-traded funds (ETFs), and sovereign bonds. Currently, the import duty on gold in India is set at 10%.
Gold prices in India can vary based on state taxes, demand, and other local factors. The government imposes a 10% import duty on gold, which can fluctuate based on economic needs.
READ: Updated Gold Rates 17/09/2024
Historical Prices (Last 15 Days)
| Date | 22 Carat Price | Change (22 Carat) | 24 Carat Price | Change (24 Carat) |
|---|---|---|---|---|
| Sep 17, 2024 | ₹67,370 | -1,860.00 | ₹73,330 | -2,085.00 |
| Sep 16, 2024 | ₹69,230 | +130.00 | ₹75,415 | +105.00 |
| Sep 15, 2024 | ₹69,100 | 0.00 | ₹75,310 | 0.00 |
| Sep 14, 2024 | ₹69,100 | +310.00 | ₹75,310 | +2,420.00 |
| Sep 13, 2024 | ₹68,790 | 0.00 | ₹72,890 | 0.00 |
| Sep 12, 2024 | ₹68,790 | -70.00 | ₹72,890 | -1,030.00 |
| Sep 11, 2024 | ₹68,860 | +1,510.00 | ₹73,920 | +460.00 |
| Sep 10, 2024 | ₹67,350 | 0.00 | ₹73,460 | 0.00 |
| Sep 09, 2024 | ₹67,350 | 0.00 | ₹73,460 | 0.00 |
| Sep 08, 2024 | ₹67,350 | -2.00 | ₹73,460 | -68.00 |
| Sep 07, 2024 | ₹67,352 | 0.00 | ₹73,528 | 0.00 |
| Sep 06, 2024 | ₹67,352 | +152.00 | ₹73,528 | +165.00 |
| Sep 05, 2024 | ₹67,200 | +663.00 | ₹73,363 | +725.00 |
| Sep 04, 2024 | ₹66,537 | -605.00 | ₹72,638 | -661.00 |
Gold Rates in Delhi
Delhi, the capital of India, is one of the country’s largest gold consumers. Historically, gold has served as a staple for jewelry making, coin minting, and the trade of pure gold bars in various forms.
Numerous factors influence gold prices, and the market in Delhi is significant, with many buyers preferring physical gold to trading through exchanges.
Current Gold Rates in New Delhi (Updated on 18 Sep 2024)
22K Gold Rates:
- 1 gram: ₹6,965 (↓ ₹15 from yesterday)
- 8 grams: ₹55,720 (↓ ₹120 from yesterday)
- 10 grams: ₹69,650 (↓ ₹150 from yesterday)
24K Gold Rates:
- 1 gram: ₹7,313 (↓ ₹16 from yesterday)
- 8 grams: ₹58,504 (↓ ₹128 from yesterday)
- 10 grams: ₹73,130 (↓ ₹160 from yesterday)
In addition to physical gold, consumers can also invest in gold as a commodity through various exchanges, such as the National Spot Exchange (NSEL), National Commodity and Derivatives Exchange (NCDEX), and Multi Commodity Exchange (MCX). These platforms offer both spot contracts, where you can purchase gold at current rates for immediate delivery, and futures contracts, which allow for the buying and selling of gold at a later date based on current prices.
For the latest updates on gold rates in Delhi, visit insidestroyy.com regularly.
FAQ’S
Why should you invest in gold?
Investing in gold offers a hedge against inflation and currency fluctuations. It is a stable asset that can diversify your investment portfolio and act as a safe haven during economic uncertainty.
What are the various forms of investing in gold?
Gold can be invested in through physical forms like bars and coins, financial products such as exchange-traded funds (ETFs) and sovereign gold bonds, or through digital gold platforms.
Does India import gold?
Yes, India is one of the largest importers of gold globally, mainly to meet the demands of its extensive jewelry industry.
How are gold prices today determined in India?
Gold prices in India are influenced by global market trends, currency fluctuations, import duties, and local demand and taxes. The value of gold is also affected by international economic conditions and geopolitical events.
What is the difference between 22K and 24K gold?
22K gold contains 91.67% pure gold mixed with other metals, making it suitable for jewelry. 24K gold is 99.99% pure gold and is too soft for practical use in jewelry but is ideal for investment purposes.
What is pure gold?
Pure gold, also known as 24K gold, is gold that is 99.99% pure with no additional metals or alloys mixed in. It is the highest form of gold purity.
How are gold rates determined in cities in India?
Gold rates in Indian cities are determined by factors such as local demand, state taxes, import duties, and global market prices. Rates can vary between cities due to these factors.
What is hallmarking of gold?
Hallmarking is a certification process that verifies the purity of gold. It ensures that gold products meet the specified standards of purity and protects buyers from fraud.
Who is responsible for hallmarking gold in India?
In India, the Bureau of Indian Standards (BIS) is responsible for hallmarking gold. It provides certification to ensure the purity and quality of gold products.
What does KDM gold mean?
KDM gold refers to gold jewelry that is alloyed with Cadmium (Cd) and is typically used for its enhanced durability and color. However, its use has declined due to health concerns associated with cadmium.
Todays Gold Rates
If you’re looking to find out the 22k gold rate today in Delhi, it is currently ₹67,570 per 10 grams. For those interested in the price of 24k gold, which is 99.9% pure, it stands at ₹73,510 per 10 grams. In दिल्ली, this means that the 22k सोने का रेट is ₹67,570 प्रति 10 ग्राम.
For a broader perspective, the today gold rate for 22 carat gold can vary by city. In Delhi, the price is ₹67,570 per 10 grams, while for 1kg, it sums up to ₹6,75,700. Regarding the Tanishq Gold rate, the general rate for 24k gold in Delhi is ₹73,510 per 10 grams.
Looking ahead, you might wonder if gold prices will increase tomorrow. The forecasted gold price for tomorrow suggests a rate of ₹7,351 per gram for 24-carat gold, indicating a minimal change.
To answer the question, “What is the 22 carat gold price today?” it is ₹67,570 per 10 grams, and the price of 24k gold is ₹73,510 per 10 grams. Additionally, the 24kt gold rate in Delhi also aligns with the 24k gold price mentioned.
In India, gold prices can fluctuate based on several factors. To check the gold price in Delhi, you can use resources such as local jeweler websites, financial news platforms, or gold rate apps.
For those tracking the 22 Carat Gold Rates in New Delhi Today & Yesterday:
- 1 gram: ₹6,757 today, compared to ₹6,757 yesterday, showing no change.
- 8 grams: ₹54,056 today, down from ₹54,056 yesterday, reflecting no change.
Similarly, for 24 Carat Gold Rates in New Delhi:
- 1 gram: ₹7,351 today, down from ₹7,331 yesterday, with an increase of ₹20.
- 8 grams: ₹58,808 today, from ₹58,648 yesterday, marking an increase of ₹160.