Updated Gold Rates 17/09/2024
Gold Insights
Gold is a highly valued metal and remains a popular investment choice. Prices in India are subject to fluctuations based on market conditions and are closely observed during trading periods.
In India, gold is traded in two primary forms: 24K and 22K. The 24K gold, with a purity of 99.99%, is the purest form but is too soft for jewelry. The 22K gold, which consists of 22 parts gold mixed with 2 parts other metals like copper and zinc, is commonly used for jewelry.
India is the largest importer of gold, primarily to meet the demands of its jewelry industry, importing around 800-900 tones annually. Gold prices are influenced by several factors including currency exchange rates, global economic conditions, and interest rates. A weaker rupee against the US dollar typically leads to higher gold prices.
Gold can be purchased in various forms such as bars, coins, and jewelry, with investment options including physical gold, exchange-traded funds (ETFs), and sovereign bonds. Currently, India’s import duty on gold is set at 10%, with adjustments made by the central government based on import needs.
Gold is considered a secure investment and an effective hedge against inflation. The Bureau of Indian Standards officially marks gold with a hallmark to ensure purity, protecting buyers from adulteration.
Gold Rates in India Today
Updated on 17 Sep, 2024
Updated Gold Rates in India
Gold Prices in Major Cities (as of September 17, 2024)
24 Carat Gold (99.9%)
| City | Price per 10g | Change |
|---|---|---|
| Bangalore | ₹73,340 | +₹190.00 |
| Chennai | ₹73,280 | +₹20.00 |
| Delhi | ₹73,330 | -₹2,085.00 |
| Kolkata | ₹73,290 | -₹2,460.00 |
| Mumbai | ₹74,340 | +₹190.00 |
| Pune | ₹73,140 | -₹120.00 |
22 Carat Gold (91.67%)
| City | Price per 10g | Change |
|---|---|---|
| Bangalore | ₹67,560 | -₹1,120.00 |
| Chennai | ₹67,410 | -₹1,700.00 |
| Delhi | ₹67,370 | -₹1,860.00 |
| Kolkata | ₹68,630 | -₹1,480.00 |
| Mumbai | ₹68,530 | -₹1,340.00 |
| Pune | ₹67,630 | -₹1,125.00 |
Gold Rates in Various Cities (as of September 17, 2024)
| City | 22 Carat Price | 24 Carat Price |
|---|---|---|
| Ahmedabad | ₹68,290 | ₹73,435 |
| Amritsar | ₹69,850 | ₹74,420 |
| Bangalore | ₹67,560 | ₹72,970 |
| Bhopal | ₹67,900 | ₹73,110 |
| Bhubaneswar | ₹67,740 | ₹73,210 |
| Chandigarh | ₹67,330 | ₹73,080 |
| Chennai | ₹67,410 | ₹73,280 |
| Coimbatore | ₹70,500 | ₹74,100 |
| Delhi | ₹67,370 | ₹73,330 |
| Faridabad | ₹67,370 | ₹73,330 |
| Gurgaon | ₹67,370 | ₹73,330 |
| Hyderabad | ₹67,340 | ₹73,200 |
| Jaipur | ₹67,630 | ₹73,230 |
| Kanpur | ₹69,390 | ₹73,800 |
| Kerala | ₹71,400 | ₹75,420 |
| Kochi | ₹67,880 | ₹73,530 |
| Kolkata | ₹68,630 | ₹73,290 |
| Lucknow | ₹69,780 | ₹74,710 |
| Madurai | ₹68,580 | ₹72,990 |
| Mangalore | ₹67,910 | ₹73,350 |
| Meerut | ₹67,370 | ₹73,330 |
| Mumbai | ₹68,530 | ₹74,340 |
| Mysore | ₹67,680 | ₹73,040 |
| Nagpur | ₹68,520 | ₹72,910 |
| Nashik | ₹68,930 | ₹73,100 |
| Patna | ₹68,580 | ₹73,090 |
| Pune | ₹67,630 | ₹73,140 |
| Surat | ₹69,850 | ₹74,420 |
| Vadodara | ₹69,990 | ₹75,600 |
| Vijayawada | ₹70,220 | ₹74,080 |
| Visakhapatnam | ₹68,050 | ₹73,020 |
Also Read: Gold Rates in India Today: 16th Sep 2024
Additional Information
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.
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.
Historical Prices (Last 15 Days)
| Date | 22 Carat Price | 24 Carat Price |
|---|---|---|
| Sep 16, 2024 | ₹69,230 | ₹75,415 |
| Sep 15, 2024 | ₹69,100 | ₹75,310 |
| Sep 14, 2024 | ₹69,100 | ₹75,310 |
| Sep 13, 2024 | ₹68,790 | ₹72,890 |
| Sep 12, 2024 | ₹68,790 | ₹72,890 |
| Sep 11, 2024 | ₹68,860 | ₹73,920 |
| Sep 10, 2024 | ₹67,350 | ₹73,460 |
| Sep 09, 2024 | ₹67,350 | ₹73,460 |
| Sep 08, 2024 | ₹67,350 | ₹73,460 |
| Sep 07, 2024 | ₹67,352 | ₹73,528 |
| Sep 06, 2024 | ₹67,352 | ₹73,528 |
| Sep 05, 2024 | ₹67,200 | ₹73,363 |
| Sep 04, 2024 | ₹66,537 | ₹72,638 |
| Sep 03, 2024 | ₹67,142 | ₹73,299 |
Gold remains a preferred investment for many, serving as a reliable hedge against inflation and currency fluctuations. In India, gold is regulated by the Bureau of Indian Standards (BIS), which provides hallmarking to guarantee the purity of the metal.
Insights on Gold
Gold is a highly valued asset and a popular investment choice. Its prices in India are influenced by various factors, including global economic conditions, currency fluctuations, and domestic taxes.
There are two primary types of gold available in India: 24K and 22K. 24K gold is pure gold with a purity of 99.99%, but it’s generally too soft for jewelry. In contrast, 22K gold consists of 22 parts gold and 2 parts other metals, making it suitable for jewelry.
India is the largest importer of gold, primarily to meet the demands of its jewelry sector. The country imports between 800 and 900 tonnes of gold each year.
Gold prices can vary based on several factors such as currency exchange rates, global market trends, and domestic policies. A weaker Indian rupee against the US dollar usually leads to higher gold prices. Additionally, gold prices in different cities can be affected by local demand, taxes, and other charges.
Currently, the import duty on gold in India is 10%. This rate can be adjusted by the government to manage import levels.
Gold is often viewed as a stable investment, especially during economic uncertainties, and is a good hedge against inflation. In India, gold’s purity is certified by the Bureau of Indian Standards, ensuring consumers receive genuine gold.
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.
Today’s Gold Rates in Delhi
Today’s Gold Rates
If you’re looking to find out the 22k gold rate today in Delhi, it is currently ₹69,100 per 10 grams. For those interested in the price of 24k gold, which is 99.9% pure, it stands at ₹75,310 per 10 grams. In दिल्ली, this means that the 22k सोने का रेट is ₹69,100 प्रति 10 ग्राम.
For a broader perspective, the today gold rate for 22 carat gold can vary by city. In Delhi, the price is ₹69,100 per 10 grams, while for 1kg, it sums up to ₹6,91,000. Regarding the Tanishq Gold rate, the general rate for 24k gold in Delhi is ₹75,310 per 10 grams.
Looking ahead, you might wonder if gold prices will increase tomorrow. The forecasted gold price for tomorrow suggests a rate of ₹7,531 per gram for 24-carat gold, indicating a minimal change.
To answer the question, “What is the 22 carat gold price today?” it is ₹69,100 per 10 grams, and the price of 24k gold is ₹75,310 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: ₹6,910 today, compared to ₹6,860 yesterday, showing an increase of ₹50.
8 grams: ₹55,280 today, up from ₹54,880 yesterday, reflecting an increase of ₹400.
Similarly, for 24 Carat Gold Rates in New Delhi:
1 gram: ₹7,531 today, up from ₹7,309 yesterday, with an increase of ₹222.
8 grams: ₹60,248 today, from ₹58,472 yesterday, marking an increase of ₹1,776.
This information is crucial for those involved in buying, selling, or investing in gold, providing a clear snapshot of current market trends.