Today’s Gold Rate per Gram in Delhi (Bullion Exchange)

Last updated on 29 September 2022 at 4:00 AM
DATE
29 September 2022
22K RATE PER GM
₹4,595₹0

Note: The above bullion gold rates are indicative global exchange rate and do not include GST, TCS and other levies (applicable during procurement) and is only meant for informational purpose.

DATE
29 September 2022
22K RATE PER GM
₹4,595₹0
Last updated on 29 September 2022 at 4:00 AM

Note: The above bullion gold rates are indicative global exchange rate and do not include GST, TCS and other levies (applicable during procurement) and is only meant for informational purpose.

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Determining gold rate

Gold has remained one of the most valued metals in India for centuries and since years is considered to be one out of the few prime investment options. India, being the largest consumer of gold in the world (almost 20-25% of the world’s total consumption), also has a huge market for gold and gold jewellery. People buy gold in the form of trendy jewellery, gold coins or gold bars. It is also consumed in the form of investments and traders interested in commodities trading, often invest in gold bullion.
Gold rate in India changes daily, with several factors impacting it in a particular place on a given day. This change in gold rates that varies from city to city depends on demand, supply, and local market conditions. Some of the most critical aspects that determine the price of gold in a country are demand & supply, global market conditions and currency fluctuations, with the rates changing every day. All the factors that affect gold rates in India are briefly explained below.
However, before learning about gold rates in India, one should be aware of the fact that the regular gold price is not different than the hallmarked gold price. You will not be charged extra for buying hallmarked gold. The only and most important difference is that you are ensured of purity when you buy gold which is hallmarked by BIS. Hallmarked gold rates in India do not differ in their pricing. The difference lies in the quality of the precious metal. So one should always buy high-quality gold. And to make sure of its quality, it is better to stick to the BIS hallmarked gold products.


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    Factors that Affect the Gold Rate Today in India

    Some of the crucial factors that affect gold rates in India are:
     • Import Charges: Higher the costs of imports, greater the price of gold.
     • Bank FD’s Interest Rates: When fixed deposit rates fall, the demand for gold rises hence the gold value today goes up as well.
     • Currency Strength: When the US dollar weakens, gold prices in India increase, and vice versa.
     • Global Economic Stability: During the times of economic instability, live gold prices tend to rise.
     • Seasonal Demand: Special festivals, weddings and other auspicious occasions when people buy gold coins and jewellery, increase the demand for gold in India, increasing gold prices seasonally.
     • Inflation: The gold rate per gram tends to rise when inflation hits an upward trend.
     • Global Rates: In general, when the gold market price increase globally, gold market rates in India increase as well.
     • Production Costs: Mining companies often increase gold prices on account of production costs which in turn raises the price of gold imported in India.
     • Supply: Supply restrictions can push up the present gold rates. Similarly, a lower global supply of gold can result in a rise of its price.
    Learn more details about these factors in our guide – Factors that Influence Gold Rate in India.


    Who imports gold in india?

    Gold is not mined in India anymore. The country imports almost all of its gold requirements from abroad. Imported gold prices are used to arrive at 22K gold rate in India. A vast body of importers brings gold into India. Most of them are some of the top government-owned banks, private sector banks, as well as many private companies.
    Here are some of the significant Indian importers of gold, who also have a hand in fixing the gold rates in India for the wholesale gold market rate.
     • State Bank of India
     • Bank of Baroda
     • Union Bank of India
     • Bank of India
     • Punjab National Bank
     • Yes Bank
     • Minerals and Metal Trading Corporation of India
    The above names are just a small part of the full list of gold importers in the country. Once these importers bring the gold, they add other components like import duties, VAT etc., and sell it to some of the wholesalers, who then retail the same to the retailers within the country.


    Who determines the gold price today?

    Determining the prices of gold in India is part of the jobs of the bullion association, who arrives at the live gold rates in India. The Indian Bullion Jewellers Association (also called the IBJA) plays a major role in determining the day-to-day as well as the latest gold prices in the country. Its members include the most prominent gold dealers in the nation, who have a collective hand in establishing these daily prices. Gold is imported as 24K and 22K into the country. 24 karat gold rate will be higher than 22 karat gold rate as 24 karat gold is more expensive than 22K gold due to its 99.99% purity. Learn more about different gold karats in our guide – Difference between Gold Karats.
    Even though we say live gold prices in India, they do not change much during the day. Mainly the imports take place based on the requirements within the market.


    Why is gold rate different for different cities in india?

    Rate of gold varies from city to city due to which current gold prices are different from one city to another in India. Here are some of the main reasons for this difference:
    Taxes: The variation in state taxes is one of the reasons why gold rates today are higher in some cities as compared to others. Some states impose higher taxes than others, and these taxes differ for each of the states within the country.
    Demand: Demand for gold also fluctuates due to different population sizes and varying demographics in the country. Discounts are commonly offered on purchase of larger quantity. So, gold rates per gram today in cities like Mumbai are lower, given larger volumes of transactions.
    Conveyance: India imports a bulk of its gold supplies through the sea. And when this gold is transferred to inner cities, inland transport charges are applied, which is why gold prices at port cities such as Chennai are lower than those in inner cities like Delhi.
    Local Associations: Apart from the bullion association, cities or states have their own local gold associations where members have a say in setting the gold prices. This also accounts for the differences in gold prices between different cities.


    Why is investing in gold a good option in india?

    For keen investors, there are a plethora of investment options available in gold. However, before choosing any of these options, one needs to be clear about things like what is the need for investing, what is the tax liability, the other investment options and everything else related to gold and gold investments. Gold trading has picked up in the right way over the years within a short period, increasing the gold share price in India by offering favourite investment possibilities. Though the Indian gold market sometimes witnesses some stagger regarding Indian gold rate, it is mostly a transitory phase that passes by soon leaving gold as valuable as ever.
    There exist several ways to invest in gold. The most traditional way is purchasing physical gold like jewellery, etc. Newer methods include various paper gold investments and digital gold. Below are the multiple options that one can avail in India to invest in gold.
     • Gold Jewellery
     • Gold Coins / Bars
     • Gold Funds
     • Gold Futures
     • Gold ETFs (exchange-traded funds)
     • Digital Gold
    Learn more about each of these options mentioned above in our guide – Buying Gold as an Investment
    And also, before buying or investing in any of the mentioned options, a web search on gold cost today would be beneficial. It is recommended for you to know the current gold rate as well as 22 karat gold rate today for 1 gram gold.


    Why is gold considered as such a valuable metal?

    Primary demand for gold in India is for jewellery or coins followed by investments. Although not used in every industry, the yellow metal is considered very valuable, and its demand never stops.
    Some of the reasons why gold is considered so valuable are as below:
     • Valuable Over Time: Although gold rates fluctuate daily, its value tends to rise in the long-term. It is not affected by geopolitical or economic turmoil and remains valuable during emergencies providing liquidity as it can be easily traded. Gold is also a save against inflation and adds significant value to an investor’s portfolio. For this reason, people tend to invest and hold on to gold for a long time.
     • Used in Industries: Gold is used in industries for specific manufacturing processes. Although not the same as that of retail consumption, yet many countries use gold for production purposes.
     • Versatile: Gold is a versatile investment as it is available in several useful forms. It is popularly used as precious jewellery and artefacts or purchased in the form of coins, bars or bullion. It is also used in edible form or woven into fabrics.
     • Gold Reserves: Many countries maintain gold as reserves to back paper currencies. These back paper currencies attain their values based on the value of the gold reserves that support them.
     • Limited Supply: Gold is mined and produced across the world in limited amounts. Due to which, gold attains more value and gold rates per gram keep increasing.
     • Tradition: Gold has various traditional values related to it. From gold coins been considered to be auspicious for festivals and occasions, to gold been used for financial transactions; it has passed down through the ages and prevails even today.