Gold prices in India showed a mixed pattern across major cities on the current trading day, with Chennai emerging as the most expensive market for the precious metal. The daily rates for 24-carat, 22-carat, and 18-carat gold have been updated, providing crucial information for investors and jewellery buyers.
City-Wise Breakdown of Gold Prices
The data, sourced from GoodReturns, reveals a detailed snapshot of the bullion market. Chennai recorded the highest price for 24K gold at ₹13,997 per gram. This was followed closely by cities like Delhi, Jaipur, Lucknow, Chandigarh, Gurgaon, Ghaziabad, and Noida, where 24K gold was trading at ₹13,897 per gram. In the financial capital, Mumbai, the 24K gold rate was slightly lower at ₹13,882 per gram, a price point shared by several other major hubs including Kolkata, Bangalore, Hyderabad, Kerala, Pune, Nagpur, Bhubaneswar, and Mangalore.
Understanding the Carat Difference
The prices for lower carat gold, which contains other alloys, were proportionally lower as expected. In Chennai, the 22-carat gold was priced at ₹12,830 per gram, while 18-carat gold stood at ₹10,700 per gram. For cities like Mumbai and Delhi, the 22K gold rates were ₹12,725 and ₹12,740 per gram respectively. Similarly, 18K gold was available for ₹10,412 in Mumbai and ₹10,427 in Delhi.
Other significant cities showed minor variations. Vadodara, Ahmedabad, Patna, and Surat reported a 24K gold price of ₹13,887 per gram. Their 22K and 18K rates were ₹12,730 and ₹10,417 per gram, respectively.
What This Means for Buyers and Investors
The geographical price disparity is influenced by factors like local demand, state taxes, and transportation costs. The difference of over ₹100 per gram for 24K gold between Chennai and Mumbai highlights the importance of checking local rates before making a significant purchase. For those looking to buy jewellery or invest in physical gold, these daily rates are a vital benchmark.
Whether you are in Hyderabad planning a wedding purchase or an investor in Pune tracking the market, staying updated with these precise figures can lead to more informed financial decisions. The consistent publication of such data aids in bringing transparency to the gold market, which remains a cornerstone of investment and culture in India.
