Gold Price Today in India : A Comprehensive Guide 2023

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Gold price today, often referred to as the “yellow metal,” holds a special place in the hearts of many in India. It’s not just a precious metal; it’s a symbol of wealth, prosperity, and cultural significance. Whether you’re considering investing in gold or purchasing gold jewellery, staying informed about the gold price today in India is crucial. In this comprehensive guide, we’ll explore gold prices, the difference between 24 Carat and 22 Carat gold, factors affecting gold prices in India, and provide you with a helpful gold buying guide.

Gold Price Today in India

Understanding the current gold price in India is the first step towards making informed decisions. As of today, the gold rate in India is as follows:

  • 24 Carat Gold: ₹60,900 per 10 grams
  • 22 Carat Gold: ₹55,780 per 10 grams

These rates are indicative and serve as a reference point for gold buyers and investors. The actual rates may vary slightly based on your location, the jeweller’s making charges, and any applicable taxes.

24 Carat and 22 Carat Gold: Know the Difference

Before delving into gold rates, it’s essential to understand the distinction between 24 Carat and 22 Carat gold:

24 Carat Gold

Gold Price Today
  • Purity: 99.9%
  • Characteristics: Soft, pliable, brittle, and bendable.
  • Usage: Often used in medical and electrical equipment, including computers and phones.
  • Price: 24 Carat gold is considered the most expensive form of gold due to its high purity.

22 Carat Gold

  • Purity: 91.6%
  • Characteristics: Has a hard texture and is less malleable.
  • Usage: Primarily used for making jewelry, bars, bullions, and coins.
  • Price: 22 Carat gold is relatively less expensive than 24 Carat gold due to the lower percentage of pure gold.

Knowing the difference between these two types of gold is essential when making buying decisions, as it affects the value and purpose of your gold purchase.

Factors Affecting Gold Price in India

The price of gold is influenced by a multitude of factors, and understanding these factors can help you anticipate changes in gold rates. Some of the key factors affecting gold prices in India include:

  • Demand and Supply: Like any commodity, gold prices are influenced by demand and supply dynamics. Increased demand and limited supply can drive prices higher.
  • Inflation: Gold is often seen as a hedge against inflation. During times of rising inflation, people turn to gold as a means of preserving their wealth.
  • Interest Rates: There is an inverse relationship between gold and interest rates. When interest rates rise, people may be inclined to invest in interest-bearing assets, leading to a decline in gold prices. Conversely, lower interest rates can boost the appeal of gold.
  • Geopolitical Events: Political instability, conflicts, and economic uncertainties can cause investors to seek refuge in gold, leading to price surges.
  • Currency Fluctuations: Gold is traded globally in US dollars. Fluctuations in currency exchange rates can affect the cost of gold when converted to the local currency.
  • Government Policies: Government regulations and taxes, including import duties and levies, can impact the cost of gold.
  • Monsoon and Agriculture: A significant portion of gold demand in India comes from rural areas. Favorable monsoon seasons and successful harvests can lead to increased gold purchases.
  • Jewelry Demand: Festive seasons and cultural events often drive up the demand for gold jewelry.

When considering a gold purchase, it’s important to keep the following tips in mind:

Gold Buying Guide

Gold Purity

  • The purity of gold is measured in Carats (K). The higher the Carat, the purer the gold. Consider your purpose and budget when choosing between 24 Carat and 22 Carat gold.

Gold Type

  • Gold is available in various forms, including coins, bars, and jewelry. Each form has its unique characteristics and purposes.

Genuine Gold Certification

  • Always opt for hallmarked gold, as it guarantees purity and quality. Look for the Bureau of Indian Standards (BIS) hallmark on your gold.

Gold Cost per Gram

  • Stay updated on the daily gold rates to make well-informed buying decisions.

Buy Back Terms

  • Inquire about the jewellers buy-back terms for your gold jewellery. It’s important to understand their policy for selling your gold back to them.

Frequently Asked Questions

Q1: What are the various forms of investing in gold?

  • A1: Gold can be invested in as bars, coins, bullions, jewellery, exchange-traded funds (ETFs), and Sovereign Gold Bonds.

Q2: What is the purest form of gold?

  • A2: The purest form of gold is 24 Carat gold, which is 99.9% pure.

Q3: What is hallmarking of gold?

  • A3: Hallmarking is the official marking of precious metals by the Bureau of Indian Standards (BIS), ensuring their purity and quality.

Q4: Which logos should you look for before buying jewelry?

  • A4: Look for the BIS logo, retailer’s logo, purity level (916, 958, etc.), year of certification, and assaying center’s logo.

Q5: Why should you invest in hallmarked gold jewelry when it is only 91.6% pure?

  • A5: Hallmarked gold ensures that you are charged only for the gold percentage in your purchase, providing assurance of purity and legality.

Q6: What does ‘916 Gold’ mean?

  • A6: ‘916 Gold’ denotes 22 Carat gold, which is 91.6% pure.


Gold continues to be a valuable asset in India, cherished for its beauty, cultural significance, and investment potential. Staying informed about the gold price today in India and understanding the factors influencing its prices are essential steps for making wise financial decisions. Whether you’re considering investment or adornment, gold remains a timeless and treasured choice.

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