Gold Rates Today in India (Updated on 06 Jan, 2025)

Gold Rates Today in India (Updated on 06 Jan, 2025)

• 24 Carat Gold Rate (10 grams): ₹78,873
• 22 Carat Gold Rate (10 grams): ₹72,313

India is the second-largest consumer of gold globally, after China, and the demand is primarily met through imports along with domestic bullion recycling. Apart from international gold prices, domestic gold rates are influenced by factors such as import duties, taxes, and the exchange rate of the Indian Rupee against the US Dollar. Gold is often viewed as a safe-haven asset, particularly during inflationary periods or economic uncertainty.

Gold Price in Major Indian Cities (06 Jan, 2025)

24 Carat (10 grams)

• Bangalore: ₹78,715
• Chennai: ₹78,721
• Delhi: ₹78,873
• Kolkata: ₹78,725
• Mumbai: ₹78,727
• Pune: ₹78,733

22 Carat (10 grams)

• Bangalore: ₹72,155
• Chennai: ₹72,161
• Delhi: ₹72,313
• Kolkata: ₹72,165
• Mumbai: ₹72,167
• Pune: ₹72,173

Gold Rate in Different Cities

Gold Price for Last 15 Days

More Information on Gold in India

Types of Gold in India:

1. 24 Karat Gold: This is considered the purest form of gold with a purity of 99.99%. It is not usually used for jewelry due to its softness.
2. 22 Karat Gold: This consists of 22 parts of pure gold mixed with two other metals, typically copper or zinc. It is the most commonly used form for jewelry in India.

Gold Investment Options:

• Physical Gold: This includes gold jewelry, coins, and bars.
• Gold ETFs: These are investment funds that hold gold and are traded on stock exchanges.
• Sovereign Gold Bonds: Issued by the government of India, they offer interest along with the potential for capital appreciation.

Factors Affecting Gold Prices:

• Exchange Rates: If the Indian Rupee weakens against the US Dollar, gold prices typically rise.
• Interest Rates: Higher interest rates may reduce demand for gold, while lower rates tend to boost demand.
• Geopolitical Issues: Gold is considered a hedge against uncertainty, making it a safe investment during geopolitical instability.
• Import Duty and Taxes: Import duties on gold in India currently stand at 10%. Additionally, state taxes and other charges can also impact gold prices.

Hallmarking:

Gold in India is subject to hallmarking, a certification of purity and authenticity. The Bureau of Indian Standards (BIS) is responsible for hallmarking, ensuring that buyers are protected from adulteration.

FAQs About Gold

1. Why should you invest in gold?
   • Gold acts as a safe-haven asset, protecting against inflation and economic downturns. It also serves as a long-term store of value.
2. What are the various forms of investing in gold?
   • You can invest in physical gold (jewelry, coins, and bars), Gold ETFs, and Sovereign Gold Bonds.
3. Does India import gold?
   • Yes, India is the largest importer of gold, primarily for the jewelry industry, importing approximately 800-900 tonnes annually.
4. What is the difference between 22K and 24K gold?
   • 24K gold is pure gold (99.99% purity) and is too soft for jewelry, while 22K gold contains 91.67% gold and is stronger, making it suitable for jewelry.
5. What is hallmarking of gold?
   • Hallmarking is a certification of the purity of gold, ensuring the buyer receives the exact gold quality they paid for. It is mandated by the Bureau of Indian Standards (BIS).
6. Who is responsible for hallmarking gold in India?
   • The Bureau of Indian Standards (BIS) oversees hallmarking in India.
7. What does KDM gold mean?
   • KDM gold refers to gold jewelry that is made by using Karat and Dehed metal. It is an older term often associated with 92% pure gold soldered with 8% silver.

Gold prices fluctuate based on multiple factors, and it remains a popular investment choice in India for both individuals and institutions.