Gold Price in India – Gold Rate India Today

Last updated on October 2nd, 2023

Gold is an important part of the subcontinent people. The heritage of Asian individuals has a strong bond with gold. India’s gold rate today goes on to change every day. It’s not only in India but in almost every country worldwide. Thegoldlive.com shows you real-time gold prices live.

Gold prices you can check here are in Tola, Gram, and Ounce.

India Gold Rate Today (Tola)

The price you see here below shows a 24K, 22K, 21K, 18K, 14K to 1K gold price in India per tola. In Addition, you can also check Dollar to INR Value (current Value).

1 Gram Gold Rate Today in India

This table shows the 1-gram gold price in India with today’s high and low prices. In Addition, the Dollar to INR price is also shown in the table below.

India Gold Rate Today per Ounce

Here the gold price is shown in Ounces. Check the latest price of gold here to make profitable investment decisions. Moreover, see the latest rate of Dollar to INR below in the table.

Gold Prices in Different Cities in India

Here You can check the gold rate today in different Indian cities. Just click on the desired city to check the live and spot gold price of that city.

Kolkata	Pune
Delhi	Hyderabad
Mumbai	Chennai
Ahmedabad	Bangalore
Lucknow	Patna
Kerala	Kanpur
Kochi	Bhubaneswar
Bhopal	Madurai
Nagpur	Nashik
Amritsar

Gold in India

The wedding of an Indian female is incomplete, or even she can’t think of it, not wearing gold jewelry on that ever-remembered moment of life. They have strong sentiments attached to the gold. Gold is the symbol of wealth or sometimes prosperity in India. 

As gold plays an important part in India, their occasional celebrations like Holi, Diwali and many more have a strong influence on the gold. The sale of Gold jewelry drastically becomes high during these celebrations. So check the gold rate in your country and buy it.

Moreover, it can be easily sold at the time of your financial crisis and will give you a handsome return. But for this, you must check the gold price in India today and then go for sale.

Related Content: See the gold rates in Kuwait, Dubai, and Pakistan.

Do Men and Women Both Like Gold in India?

Gold not only fascinates every single woman in India but, investors too. Moreover, Men in India also love to wear gold Chains and Bracelets. They see the gold rate today first and then invest through different channels. These channels include buying Gold Coins, Gold Bars, and ETFs.

There would be a question in your mind Why do we not mention gold jewelry in investment channels? The reason is simple if purchase jewelry then we have to pay minimal charges for making it. So it will increase the price on the spot and when we go for sale, the making charges are not even included, whatever the gold price is.

Gold Reserves of India 2023

The Reserve Bank of India declared that at the end of the fiscal year 2023, March 31st they have 794.64 Metric Tonnes of gold reserves which is a great growth for the country and solely the result of perfect financial policies. At the end of fiscal year 2022, it was 695.31 Metric Tonnes.

Factors Affecting Gold Price in India

Here are some major reasons behind changing the gold rates in India

Demand and Supply

The gold rate today is directly affected by demand and supply. The simple is that when the demand for gold increases the supply, gold price in India increases as a result and vice versa. It is even not in India that supply and demand have an influence on the gold price, but almost every country in the world has the same forces behind it.

US Dollar

Another major factor behind the change in the gold price in India is US Dollar. It has strength over the globe and has great influence, especially over Asian countries.

Import Cost

India has to import gold in huge quantities from other countries. The majority of them are in Switzerland and the UAE. In Addition, Importing gold increases the price of gold because the import price is also included. So higher the import cost, the greater the rate of gold in India.

Banks Interest Rates

In India, wealthy people or businessmen primarily deposited their surplus money in a bank account as a fixed deposit. For which they receive a handsome amount as interest from the bank.

When the bank decreases the Fixed deposit interest rate, people tend to withdraw their money from the banks and start investing in gold. This scenario increases the demand for gold and its supply begins to fall. So this affects the gold rate in India.

Economical Factor

As we know gold comes to our mind when one has to invest in a risk-free or stable asset that will provide a higher return. So the same scene when there are economic crises in the country and no one wants to take risks. It directly influences the Indian gold rate.

Seasonality

Gold price in India increases eventually at the time of occasions or events. Like wedding season, Diwali, Rakhi Bandhan, and others. During these occasions, the demand for gold becomes high, and so does the price.

Gold Reserves

In every country, the Central bank reserves gold against the money. this directly impacts the gold price in India, because when the Reserve Bank of India reserves more gold then its rate increases.

Other factor includes the taxes, carriage, and some local associations in the country that has a great influence on the gold rate in India. In Addition, that is the reason behind a minimal change in the gold rate of Indian major cities. Every city in India has a different price for gold.

So these are some major factors affecting India’s gold rate today.

Gold Hallmarking in India

Gold Hallmarking is the sign on the gold that indicates it has been passed through all necessary processes and declared as pure. In addition, it provides satisfaction to the holder that he or she has the purest form of gold.

The government of India on June 16, 2021, announced the Hallmarking of gold jewelry is mandatory. Moreover, gold jewelers whose annual turnover is less than 40 lacs are exempted from this jurisdiction.

In the first phase, initially, only 256 districts will avail of the facility of gold hallmarking in India. But, Later on, this facility may be increased to the number of districts according to requirements.

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