Today's Gold Price in India

24 Karat Gold

24K Gold is the highest gold karat and is best for investment purposes as it is gold in the purest form. However pure gold jewellery is not suitable for daily wear as it easily bends and is usually kept in lockers or storage and taken out only for special occasions. It requires meticulous handling and care. 24-carat gold is widely used for making gold coins, bars, etc. and is very expensive.

22 Karat Gold

22 karat gold has 22 parts of gold mixed with two parts of other metals/alloys like copper, silver, nickel and zinc. It is also called 916 gold as it contains 91.67% pure gold. The texture of 22K gold is harder and more durable than 24k gold. It is more suitable for making jewellery.

18 Karat Gold

18 Karat gold comprises 75% gold mixed with 25% other metals like copper, silver, etc. This type of gold is used for making stone studded jewellery and diamond jewellery. 18K Gold is less expensive compared to 24K and 22K gold. It is widely used for making rings, watches, and similar wearable jewellery.

Price

24-carat gold is more expensive than 22 carats and 18-carat gold as it is the purest form of gold.

Composition

24K gold has 99percent gold, while 22K has 91.6percent, and 18K has 75 percent gold.

Uses

24K gold is used for making gold coins, bars, etc. 22K gold is made for making jewellery, while 18K gold is used for making wearable jewellery like watches, accessories, etc.

Durability

24K gold is not very durable and has less density compared to 22K or 18K gold. 22K gold is 91.6percent gold and is mixed with other metals like zinc, silver, nickel etc which makes it more durable for making jewellery. 18K gold is 75 per cent gold mixed with 25 per cent other metals like copper, silver, etc. which makes it very durable.

Colour

24K gold is the natural warm colour of pure gold. It has a distinct bright yellow colour. 22K and 18K gold can be mixed with any other alloy to give it different colours.

Gold is an alluring commodity which attracts buyers due to its beauty and value. It is considered a great investment, however, there are several factors to consider when buying gold. Check out our gold buying guide to make good investments every time.

Gold Rate in the city

The Gold rate in different cities varies each time due to the demand for gold, transportation costs involved, import costs, etc. Gold prices in port cities are cheaper. The gold prices are updated twice a day in each city- once in the morning and once in the evening. You must check the gold prices daily before investing.

Hallmark Gold

Each piece of gold is hallmarked before the sale. It is the industry best practice and one of the most important tips for buying gold. Hallmarking ensures the credibility and authenticity of the purity of the gold. BIS regulates the certification of gold as per the norms of the government of India. You must check the hallmark on each gold jewellery that you purchase.

Purity

The purity of the gold is an important consideration while purchasing gold. Gold coins or ornaments are produced with gold mixed with other alloys. The percentage of gold in a piece mixed with the alloy determines its purity. 24K is the highest and the purest form of gold.

Making charges

Jewellers levy making charges on jewellery, and coins above the cost of gold. The manufacturing procedure for gold items is labour-intensive and the intricacy of the design and style also affects the charges of making gold. These are relative to the creativity of the designer and craftsmanship used in making each piece of jewellery. If you are purchasing gold for investment purposes it is advisable to purchase coins or bars, to avoid the unnecessary expense of making changes.

Wastage charges

Gold ornaments are prepared by melting and cutting precious metals and shaping them into custom designs which leads to a wastage of gold. Some Jewellers include this amount as wastage charges in the total cost of your gold jewellery. Always remember that plainer and compound designs have less wastage in comparison to complex ones.

Buy Back policy

Jewellers offer a buyback option on ornaments to allow you to exchange your old jewellery and update it according to the new trends. The value of gold remains the same, the jeweller deducts making charges while accepting the gold. You will get a return based on the current rate of gold in your city. One of the great tips for buying gold is to check the buyback policy of the seller. You must therefore discuss and understand the buy-back policy of your jeweller to get the best exchange rate.

• How to check 24K gold purity?

  Gold purity is measured in Karat and is categorised as 22, 24, 18, 14, 10 karats, etc. To check the purity of the gold simply look for the karat stamp on the jewellery. It is mandatory for jewellers to Hall Mark and gold carat on each piece of gold jewellery.

• What is gold hallmarking?

  The government of India has made Gold Hallmarking mandatory from June 2021. The Bureau of Indian Standards (BIS) issues a quality certificate guaranteeing the purity of gold in a piece of jewellery. This certificate is issued to all registered jewellers. Currently, gold hallmarking is allowed on 14-, 18- and 22-carat gold jewellery.

• What does 916 gold mean?

  916 gold simply means 22-carat gold. The number '916' is used to denote the purity of the gold in the final product, so it means 22-carat gold has 91.6 grams of pure gold in 100 grams of alloy which is calculated by dividing 22k/24k = 91.6%). The is the purest form of gold for any alloy making.

• Why does gold price change in different cities?

  The price of gold varies in different cities in India, due to the demand as well as the transportation cost involved. South India has a higher consumption of gold which allows sellers to bulk gold in bulk at discounted prices and sell at lower rates. Transportation costs like fuel, vehicle expenses, as well as security expenses, etc. are all added to the selling price of the gold. The higher the cost of transportation to different cities the higher will be the price of gold.

• How to invest in gold?

  Customers can purchase gold physically from jewellers or gold coins and bars from a bank. You can also purchase Sovereign gold bonds (SGBs) issued by the RBI in tranches. These bonds offer a fixed rate of interest and are issued at the current price of gold. Digital gold is also a way of investing in pure gold in digital form, where the seller stores an equivalent amount of physical gold in a secured vault that is reflected in the investor’s digital gold account.

• What is digital Gold?

  Digital Gold is 24K pure gold which is bought online virtually. It is a virtual method of investing and buying the yellow metal without physically buying gold. You can simply enter the amount of digital gold that you'd like to buy and platforms buy the same amount of real gold electronically and are kept in vaults. Buyers can choose to sell the digital gold online and get returns or they can also take physical delivery of the gold.

• How to buy gold online?

  Customers can purchase gold online via mobile wallets like PhonePe, Paytm, and GPay, as well as from the Gold Rush Plan of Stock Holding Corporation of India. Gold buying options are available in association with MMTC-PAMP or SafeGold or both. government-owned MMTC and Switzerland-based PAMP SA have launched the joint venture MMTC-PAMP.

• What are the types of gold available in the market?

  Gold comes in different colours, purities and compositions. Physical gold is available in gold bars, gold coins, and gold jewellery. There is also paper gold which is good for trading. Gold Exchange Trading funds, or ETFs, gold futures, and gold commodity pools are also available in the investment market.