Gold prices in India displayed a mixed trend across major cities on the current trading day, with Chennai emerging as the most expensive market for the precious metal. Investors and jewellery buyers are closely monitoring these daily fluctuations, which are influenced by a combination of international spot prices, rupee-dollar exchange rates, and local demand-supply dynamics.
City-Wise Breakdown of Gold Prices
The data reveals a clear price hierarchy among the major Indian cities. Chennai recorded the highest price for 24-karat gold at ₹13,167 per gram. This was notably higher than in other metropolitan hubs. Following Chennai, cities like Delhi, Jaipur, Lucknow, Chandigarh, Gurgaon, and Ghaziabad reported a 24K gold rate of ₹13,063 per gram.
A larger group of cities, including the financial capital Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, Pune, Nagpur, and Bhubaneswar, saw their 24K gold prices settled at ₹13,048 per gram. Meanwhile, Vadodara, Ahmedabad, Patna, and Surat reported a slightly different rate of ₹13,053 per gram for pure gold.
Rates for 22K and 18K Gold Variants
The pattern for 22-karat gold, which is more commonly used in jewellery, closely mirrored the 24K trend. Chennai again led with a price of ₹12,070 per gram. The cities in the second tier (Delhi, Jaipur, etc.) had a 22K rate of ₹11,975 per gram. The major group including Mumbai and Bangalore quoted ₹11,960 per gram, while Vadodara and Ahmedabad were at ₹11,965 per gram.
For 18-karat gold, the prices were as follows:
- Chennai: ₹10,065 per gram
- Delhi, Jaipur, Lucknow, Chandigarh, Gurgaon, Ghaziabad: ₹9,801 per gram
- Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, Pune, Nagpur, Bhubaneswar: ₹9,786 per gram
- Vadodara, Ahmedabad, Patna, Surat: ₹9,791 per gram
What This Means for Buyers and Investors
The regional variation in gold prices, often referred to as the "making charge" or local taxes and premiums, is a standard feature of the Indian bullion market. The difference of over ₹100 per gram for 24K gold between Chennai and Mumbai highlights the impact of local factors. Consumers planning significant purchases, such as for weddings or festivals, are advised to check their local city rates meticulously, as even small per-gram differences can lead to substantial savings or costs on larger quantities.
These daily rates serve as a crucial benchmark for both physical jewellery buyers and those investing in digital gold or sovereign gold bonds. With gold continuing to be a preferred asset for hedging against inflation and economic uncertainty, staying updated with accurate city-specific prices is more important than ever for making informed financial decisions.
