Gold is not only a highly coveted metal but also a sought-after investment in India, the second-largest consumer of gold in the world after China. India’s gold demand is largely met through imports, with a smaller portion coming from domestic recycled bullion. The price of gold is influenced by global trends, currency exchange rates, import duties, and taxes in India. Gold is widely seen as a hedge against inflation and a safe haven investment, particularly in uncertain times. Let’s take a closer look at the latest gold rates across various Indian cities.
Gold Rates in India (10 Jan 2025)
- 24 Carat Gold (10 grams): ₹79,003
- 22 Carat Gold (10 grams): ₹72,433
Gold Rates in Major Indian Cities (Per 10 grams)
| City | 24 Carat Gold | 22 Carat Gold |
|---|---|---|
| Bangalore | ₹78,845 | ₹72,275 |
| Chennai | ₹78,851 | ₹72,281 |
| Delhi | ₹79,003 | ₹72,433 |
| Kolkata | ₹78,855 | ₹72,285 |
| Mumbai | ₹78,857 | ₹72,287 |
| Pune | ₹78,863 | ₹72,293 |
Gold Rate in Other Cities
| City | 22 Carat Gold | 24 Carat Gold |
|---|---|---|
| Ahmedabad | ₹72,341 | ₹78,911 |
| Amritsar | ₹72,460 | ₹79,030 |
| Bhopal | ₹72,344 | ₹78,914 |
| Chandigarh | ₹72,442 | ₹79,012 |
| Faridabad | ₹72,465 | ₹79,035 |
| Hyderabad | ₹72,289 | ₹78,859 |
| Jaipur | ₹72,426 | ₹78,996 |
| Kochi | ₹72,306 | ₹78,876 |
| Kanpur | ₹72,453 | ₹79,023 |
| Kochi | ₹72,306 | ₹78,876 |
Gold Price History for Last 05 Days
- Jan 09, 2025: ₹72,433 (22K), ₹79,003 (24K)
- Jan 08, 2025: ₹72,313 (22K), ₹78,873 (24K)
- Jan 07, 2025: ₹72,313 (22K), ₹78,873 (24K)
- Jan 06, 2025: ₹72,313 (22K), ₹78,873 (24K)
- Jan 05, 2025: ₹72,323 (22K), ₹78,883 (24K)
Understanding Gold and Its Price Factors
Gold is one of the most coveted precious metals, not only for its use in jewelry but also as an investment tool. In India, two main types of gold are traded: 22 Karat and 24 Karat. While 24 Karat gold is 99.99% pure, it is too soft to be used in jewelry. On the other hand, 22 Karat gold is mixed with other metals like copper and zinc, which gives it the necessary hardness for jewelry making.
India’s demand for gold primarily supports the jewelry industry, and the country imports between 800 to 900 tonnes of gold annually. The price of gold in India is influenced by several factors including:
- Global Market Trends: Economic conditions, currency exchange rates, and inflation can drive the global price of gold, which, in turn, affects domestic prices.
- Import Duties and Taxes: India imposes a 10% import duty on gold, which impacts the local price.
- Demand & Supply: Local demand for gold, especially during festival seasons, also affects pricing.
- Currency Exchange Rates: A weak rupee often results in higher gold prices, as gold is priced in US dollars internationally.
Insights:
- Gold Types: India primarily trades in 22K and 24K gold. 24K is the purest form, with 99.99% purity, but too soft for jewelry. 22K is mixed with other metals for strength and is used for making jewelry.
- Gold Investment: Physical gold, such as bars and jewelry, and digital formats like exchange-traded funds (ETFs) and sovereign gold bonds are popular investment options.
- Market Factors: Gold prices are influenced by international currency movements (especially the US dollar), inflation, geopolitical events, and domestic taxes (like import duty).
- Hallmarking: Hallmarked gold ensures its purity, certified by the Bureau of Indian Standards. This is crucial for buyer protection.
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