Today’s Gold Rate in India (Updated: January 17, 2025)

Today’s Gold Rate in India (Updated: January 17, 2025)

Gold Price Today:

• 24 Carat Gold Rate (10 grams): ₹80,803 (+₹550)
• 22 Carat Gold Rate (10 grams): ₹74,083 (+₹500)

India is the second-largest consumer of gold globally, just behind China. A significant portion of the country’s gold demand is met through imports, with domestic recycling of bullion also contributing. While international prices are quoted in U.S. dollars, domestic gold prices are influenced by factors like import duties, taxes, and the exchange rate. Gold is often seen as a hedge against inflation, but its price is also affected by bond yields and the value of the dollar. Below are the latest gold prices in major Indian cities.

Gold Rates in Major Indian Cities – January 17, 2025

24 Carat Gold Price (10 grams):

• Bangalore: ₹80,645 (+₹550)
• Chennai: ₹80,651 (+₹550)
• Delhi: ₹80,803 (+₹550)
• Kolkata: ₹80,655 (+₹550)
• Mumbai: ₹80,657 (+₹550)
• Pune: ₹80,663 (+₹550)

22 Carat Gold Price (10 grams):

• Bangalore: ₹73,925 (+₹500)
• Chennai: ₹73,931 (+₹500)
• Delhi: ₹74,083 (+₹500)
• Kolkata: ₹73,935 (+₹500)
• Mumbai: ₹73,937 (+₹500)
• Pune: ₹73,943 (+₹500)

Gold Rates in Different Cities – January 17, 2025

Gold Rate Trends – Last 05 Days

Factors Influencing Today’s Gold Rate in India

The price of gold in India fluctuates daily, impacted by a variety of factors including:

• Global Demand and Supply: India is the world’s largest importer of gold, with demand primarily driven by the jewelry sector.
• Currency Fluctuations: A weaker Indian Rupee against the US Dollar tends to drive gold prices higher.
• Interest Rates and Inflation: Rising inflation and changing interest rates also impact gold prices.
• Geopolitical Events: Uncertainty in global markets can cause people to turn to gold as a safe-haven asset.

What You Need to Know About Gold in India

India primarily trades in two types of gold: 24 Carat and 22 Carat.

• 24K Gold: The purest form of gold, with a purity of 99.99%. However, it’s too soft to be used for jewelry.
• 22K Gold: Composed of 22 parts gold and 2 parts other metals like copper and zinc, commonly used for jewelry making.

India’s gold consumption continues to rise, with over 800-900 tonnes of gold being imported annually.

The price of gold in India is affected by:

• Import Duty: Currently set at 10%, this tax can fluctuate depending on government policies.
• State Taxes and Local Levies: These can cause differences in gold rates across different cities in India.

FAQs About Gold and Today’s Gold Rate

1. Why should you invest in gold? Gold is a reliable investment, offering protection against inflation and economic uncertainty. It maintains its value even during times of financial instability, making it a secure choice for long-term investment.

2. What are the different forms of investing in gold? You can invest in physical gold (jewelry, coins, bars), gold ETFs (exchange-traded funds), and sovereign gold bonds offered by the government.

3. Does India import gold? Yes, India is the largest importer of gold, mainly to meet the demand from the jewelry industry.

4. How are gold prices determined in India? Gold prices are influenced by international market trends, local taxes, import duties, and currency fluctuations. Today’s gold rate also depends on global gold demand and economic factors.

5. What is the difference between 22K and 24K gold? 24K gold is pure gold (99.99% purity), while 22K gold is slightly less pure, consisting of 22 parts gold and 2 parts other metals. The latter is more durable and used in jewelry making.

6. What is pure gold? Pure gold refers to 24K gold, which has 99.99% gold content and is used in bullion or coins but not in jewelry due to its softness.

7. How are gold rates determined in cities in India? Gold rates in Indian cities depend on local demand, taxes, and logistics. Import duties and the exchange rate of the Rupee against the Dollar also impact the price.

8. What is hallmarking of gold? Hallmarking is a certification process that guarantees the purity of gold. It is done by the Bureau of Indian Standards (BIS) and protects buyers from adulterated gold.

9. Who is responsible for hallmarking gold in India? The Bureau of Indian Standards (BIS) oversees the hallmarking process to ensure gold’s authenticity and purity.

10. What does KDM gold mean? KDM gold refers to gold that has been soldered using a mixture of gold and cadmium. It’s commonly used in jewelry but is less pure compared to 22K or 24K gold.