Gold prices across India showed slight variations on Thursday, with Chennai emerging as the city with the highest rate for pure 24-karat gold. The data, sourced from GoodReturns, provides a detailed snapshot of the precious metal's value in key urban centres, crucial for buyers and investors alike.
City-Wise Breakdown of Gold Prices
The southern metropolis of Chennai recorded the highest price for 24-karat gold at ₹13,158 per gram. Following closely were cities like Delhi, Jaipur, Lucknow, Chandigarh, Gurgaon, Ghaziabad, and Noida, where 24K gold was priced at ₹13,074 per gram. The financial capital, Mumbai, along with Kolkata, Bangalore, Hyderabad, Kerala, Pune, Nagpur, and Bhubaneswar, saw 24K gold trading at ₹13,059 per gram.
For 22-karat gold, which is widely used in jewellery, Chennai again led with a rate of ₹12,061 per gram. In Delhi and several northern cities, the 22K rate stood at ₹11,986 per gram, while in Mumbai and other major hubs, it was ₹11,971 per gram.
Understanding the Carat Difference
The price difference across carats is significant. The 18-karat gold, with lower purity, was most expensive in Chennai at ₹10,056 per gram. In Delhi and similar markets, it was ₹9,810 per gram, and in Mumbai and others, ₹9,795 per gram. Cities like Vadodara, Ahmedabad, Patna, and Surat had intermediate rates for all categories.
Here is a quick glance at rates in some major cities:
- Chennai: 24K: ₹13,158 | 22K: ₹12,061 | 18K: ₹10,056
- Mumbai: 24K: ₹13,059 | 22K: ₹11,971 | 18K: ₹9,795
- Delhi: 24K: ₹13,074 | 22K: ₹11,986 | 18K: ₹9,810
- Bangalore: 24K: ₹13,059 | 22K: ₹11,971 | 18K: ₹9,795
- Kolkata: 24K: ₹13,059 | 22K: ₹11,971 | 18K: ₹9,795
What This Means for Buyers and Investors
The marginal differences in gold rates today from one city to another are influenced by local factors such as demand, supply, state taxes, and transportation costs. For potential buyers, this data is essential for making informed decisions, whether for investment in bullion or purchase of jewellery. The consistently high price in Chennai highlights strong regional demand or specific local levies.
Monitoring these daily fluctuations is key for anyone looking to enter the gold market. With prices holding firm across most metropolitan areas, the overall sentiment in the bullion market appears stable for now. Experts advise checking the latest 24k gold rate and making purchases from certified jewellers to ensure purity and fair pricing.
