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Gold Rates in Popular Cities of India
Understanding Gold Rates in India
Gold prices in India track the international bullion price, the USD-INR exchange rate and import duty, and are quoted per gram or per 10 grams. Rates differ slightly between cities because of local demand, transport costs and dealer premiums, which is why this page tracks major cities separately.
22K vs 24K Gold
24 carat gold is 99.9% pure and is what coins, bars and digital gold are priced on. 22 carat gold, at 91.6% purity, is the jewellery standard. It is alloyed for strength, so its rate is proportionally lower. Always check the BIS hallmark (with the 6-digit HUID) when buying jewellery.
What You Actually Pay at a Jeweller
The displayed rate is not the billed price: jewellery adds making charges (commonly 8–25% of the gold value) and 3% GST on the gold plus 5% GST on making charges (work the totals out with the GST calculator). The rates shown here are indicative market rates, so always confirm the live rate and charges with the seller before transacting. Since bullion is dollar-priced, the USD-INR rate moves Indian gold prices daily; silver rates follow the same dynamics at a lower price point.
Ways to Own Gold
- Jewellery: ornament first and investment second. Making charges and GST mean the gold must appreciate roughly 15% to 25% before you break even on resale.
- Coins and bars: near-market pricing with small minting premiums; insist on BIS-hallmarked, tamper-proof packaging.
- Gold ETFs and mutual funds: exchange-traded, no storage or purity worries, priced to the market. This is the cleanest route for pure investment exposure.
- Digital gold: app-based fractional buying backed by vaulted metal; check the custodian and any spread before treating it as equivalent to an ETF.
Choosing between these routes — and deciding how much of a portfolio gold deserves in the first place — is a bigger question than the day's rate; our guide to physical vs digital gold vs SGBs weighs each option, and if you're torn between the two metals, see how gold and silver compare as investments.
Tax on Gold Gains
Selling physical or digital gold after more than 24 months is a long-term gain, currently taxed at 12.5% without indexation; within 24 months, gains are taxed at your slab. Gold ETFs and gold mutual funds held over 12 months are also taxed at 12.5%. These rules changed in July 2024, so older guides citing 20% with indexation are out of date. Verify current treatment before a large sale.