Gold Rate Today in India

Highlights

  • Want to check gold rates before buying the yellow metal?
  • Check today's 22K and 24K gold price in India

Gold rate stands at ₹46850 for 22 Carat and ₹51110 for 24 Carat per 10 gram in the morning session today. As the day goes on, the rate might change depending on the trade of the yellow metal. However, the rate you see above won’t be the same across the country. So, we have listed out today’s gold rates across different cities, the price movement for the last 10 days and much more on this page. Keep reading!

Today’s Gold Rate in India

Gold rates, however, don’t remain the same throughout India. They vary from one city to another based on different tax levies and other factors. Plus, the 22ct gold rate will be different from the 24ct gold rate in India. Let’s check out today’s gold rates in India.

22K Gold Rate Today in India

DayGold Price (1 Gram)Gold Price (10 Gram)
June 9, 2022 INR 4,795INR 47,950
June 8, 2022 INR 4,770INR 47,700
Daily Price ChangeUp by INR 25Down by INR 250

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24K Gold Rate Today in India

Don’t fret, we’ve got the data ready for you! Check out the gold price chart in the table below to know the same.

DayGold Price (1 Gram)Gold Price (10 Gram)
June 9, 2022INR 5,231INR 52,310
June 8, 2022INR 5,204INR 52,040
Daily Price ChangeUp by INR 37Up by INR 270

Gold Rates Across Major Indian Cities

Gold rates that you saw above will change from one city to another depending on different tax levies and other factors. Let’s check out the rate across major Indian cities for 22K and 24K gold per 10 gram as on 05 October 2022.

City22K Gold Rate (10gm)24K Gold Rate (10gm)
Delhi₹47000₹51280
Mumbai₹46850₹51110
Kolkata₹46850₹51110
Chennai₹47050₹51330
Bangalore₹46900₹51160
Hyderabad₹46850₹51110
Pune₹46880₹51140

22ct and 24ct Gold Rate in India for Last 10 Days

Gold prices have come close to 50,000 mark per 10 gram in both 22ct and 24ct category. Let’s check out the table below to know the gold rate per 10 gram for the last ten days.

Date22ct Gold Rate (10gm)24ct Gold Rate (10gm)
June 9, 2022INR 47,950INR 52,310
June 8, 2022INR 47,700INR 52,040
June 7, 2022INR 47,600INR 51,930
June 6, 2022INR 47,850INR 52,200
June 5, 2022INR 47,740INR 52,090
June 4, 2022INR 47,750INR 52,100
June 3, 2022INR 48,100INR 52,470
June 2, 2022INR 47,600INR 51,930
June 1, 2022INR 47,500INR 51,820
May 31, 2022INR 47,750INR 52,100

22 and 24 Carat Gold Rate in India for Last 6 Months

Gold prices have been rising continuously over the last 6 months in both domestic and global markets owing to various factors such as economic uncertainty, geopolitical tension between the economic powerhouses, weakening rupee, etc. Let’s check out the table below to know how the rise has been during this period.

MonthDate22 Carat Gold Price (10 Gram)24 Carat Gold Price (10 Gram)
May 2022May 1, 2021INR 42,390INR 52,790
May 31, 2021INR 47,750INR 52,100
April 2022April 1, 2022INR 48,100INR 52,470
April 30, 2022INR 48,400INR 52,800
March 2022March 1, 2022INR 46,700INR 50,950
March 31, 2022INR 47,650INR 51,980
February 2022February 1, 2022INR 44,900INR 48,980
February 28, 2022INR 47,000INR 51,280
January 2022January 1, 2022INR 47,150INR 49,150
January 31, 2022INR 44,900INR 48,990
December 2021December 1, 2021INR 47,120INR 48,120
December 31, 2021INR 47,010INR 49,010

Why is the 22K Gold Rate Lower Than That of 24K?

24K denotes complete purity as 24 parts of the gold are pure gold with no other metal included in them. Whereas, 22K gold rates are lower than that of 24K because the former has some portions of other metals as well. The 22K gold contains 91.67% of pure gold and other metals cover the remaining portion. That’s why you can see the gold rate for today in 22K being different from 24K in the gold price chart. And this trend continues…

How Can You Buy Gold in India?

You can do so by either visiting the gold jewellery stores or purchase the same online.

What are the Extra Costs Associated with Buying Gold?

The gold price chart you saw above mirrors the international gold prices. This is used as a tool to arrive at live gold rates across many cities in India. The eventual rate of gold will see the addition of import duty and value-added tax levied on the yellow metal, margins charged by the banks on import, live gold rates on the MCX, coordination between bullion associations and big dealers of different cities. So, unlike international markets, consumers in domestic markets have had to pay more.

Can I Buy Gold Online at Wishfin?

You can buy 24K 99.9% pure gold at Wishfin, a premier online financial marketplace having serviced over 35 million customers across loan and investment space. Besides purity, there are several other benefits when buying gold at Wishfin. Let’s check out all such benefits below.

  • Purity Guaranteed – Wishfin has tied up with Augmont, which has NABL certified and BIS accredited refineries in India
  • Topmost Security – The gold you buy at Wishfin is stored in lockers by the market leader in secure logistics and vault services i.e. Brink’s. Along with that, you also get the benefit of IDBI Trusteeship Services that ensure your gold is put safely in lockers throughout.
  • Price Transparency – Live gold prices can be seen flashing on the screen, thereby ensuring greater transparency. You can even sell it at the right price.

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But How Can I Buy Gold at Wishfin?

You can buy gold in a few simple steps mentioned below.

  • Click on ‘Login’
  • Enter your mobile number
  • Enter a One-time Password (OTP) received on your mobile number
  • Click on ‘Verify OTP’
  • Mention your full name as per bank records
  • Write the Pincode
  • Mentioning email ID is optional
  • Tick on the checkbox stating that you have read the Terms and Conditions
  • Click on ‘Save Details’

After all this, you will create an account for you. Post the account creation, you will need to do the following to buy gold.

  • Mention the value or weight of gold you want to buy
  • Either way, you will get to know the worth of gold at the prevailing market price
  • Click on ‘Proceed to Buy’
  • A page will appear showing the value for gold purchase, GST amount levied at 3% of the purchase price, and the total purchase amount
  • Click on the ‘Pay’ button that will also have the amount on it
  • After that, choose from various payment options such as Cards, net banking, mobile wallet and UPI

For the transaction to go through successfully, you need to buy gold for a minimum value of INR 100. You can see the value and weight of gold bought in your transaction history. The ‘Transaction History’ icon is placed on the left side of your name. Remember, you need to login to see all that.

Similarly, you can sell your gold holdings after 7 days of purchase by clicking on the ‘SELL GOLD’ icon. You could see the LIVE Sell Price tracker. You can choose to sell gold either by weight or amount. Tick on the checkbox stating that you have read terms and conditions and click on ‘Proceed to Sell’. You will get the money credited to your account.

What is the Gold Rate Today in Commodity Exchanges?

Gold futures have reached INR 50,589 per 10 gram today at Multi Commodity Exchange (MCX).

What Exactly are Gold Futures?

Gold can be bought and sold instantly or traded in futures. With futures, gold is traded for delivery in the future at the current gold price. The day on which the exchange happens is called the ‘Settlement Day’. A buyer has to pay the agreed price to get the delivery of gold from the seller. Usually, the agreement is made between the buyer and seller around 3 months before the date of the proposed delivery. As there remains some time for the delivery of gold whose price can fluctuate daily, both sellers and buyers may move away from the deal. If the gold prices surge, the seller might not go ahead with the deal. On the other hand, if the gold prices dip, the buyer might move away from the deal as agreed. To prevent such an incident, the concept of margin money is introduced. The margin money requirement depends much on market conditions. On the whole, it can be 2-20% of the value you transacted at. This margin money is lodged with the central clearer that prevents both the parties to walk away from the deal.

Why are Gold Prices Rising?

A lot of factors are contributing to the sustained rally in gold prices. Let’s check out such factors.

Russia-Ukraine War

As Russia has launched a full-scale attack on Ukraine killing numerous people in the European country, western countries led by the US have imposed sanctions on the Putin-led establishment. These sanctions are expected to cause supply chain disruptions for various commodities including Gold. Russia is the world’s third largest gold producer behind Australia and China, and with anticipated disruptions, gold prices are set to notch up further in the coming days.

Stimulus Plan Announced by the European Union

The 750 billion euros recovery package announced by the European Union has also firmed up the rate of gold in the last few days. All eyes are on the US whose policymakers are also looking to devise an economic recovery plan.

Weakening Rupee Against the Dollar

India is the largest gold importer in the world by getting supplies of nearly 800-900 tonnes of yellow metal every year. So, the determination of gold rates in India is dependent on the exchange rate. If the rupee weakens against the dollar or any other global currency, the price of gold will rise in rupee terms. Rupee, which was around 45 against the dollar in 2011, has fallen to about 75 now. Such a drastic fall has led to high gold prices. To reduce the current account deficit (CAD), the government hiked the import duty on gold to 12.50% from 10% in July 2019. This hike has also resulted in increasing the gold rates in India.

Will Gold be in Demand as Prices are Rising?

The high prices of gold generally lead to low demand for the yellow metal. But since festive and marriage seasons are about to kick off in India, a lot of consumers will most likely buy gold and use them in such functions.

Frequently Asked Questions

1. How is Today Gold rate in India determined?

The Gold price today in India is determined by taking several factors into account such as the RBI’s gold reserve, inflation rate and the international gold market trends.

2. What are the factors that should be taken into consideration before buying gold?

The major factor that you should consider before buying gold is today’s gold rate along with the purity level of the gold that you are willing to purchase. In case of hallmark gold, it is advisable to further check the hallmark symbol on your piece of gold jewellery.

3. Why is the gold price 22k today less than the 24ct gold price today?

The 24 carat gold is made up of pure gold. Whereas, the 22 carat gold has some portions of other metals in it. Therefore, the gold rate 22carat is different from that of the 24ct gold price today.

4. Can I buy Gold online at todays gold rate?

Yes, you can buy gold online at today’s gold rate. However, it is advisable to check the gold price in India before buying.

5. Does currency inflation affect today gold price in Chennai?

Yes, currency inflation does have an impact on the gold rate in Chennai. If the Indian rupee slides against the US dollar the gold rate in India would also go up.

6. Does Mumbai’s gold demand have an impact on the gold rate today Mumbai?

Yes, the demand for gold in a particular state can affect the gold rate of that region. In this case, Mumbai’s gold demand would have an impact on the gold rate today Mumbai.

Note – Gold prices are sourced from various news journals such as Economic Times, Live Mint, Good Returns, Fresherslive, etc.

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