Gold Rate Today, Silver Rate & Platinum Price in India

24K (999 fineness) is 99.9% pure gold, traded as bullion bars and investment coins. Because pure gold is soft, jewellery is typically crafted in 22K (91.6% purity or 916 hallmarked) or 18K (75.0% purity or 750 hallmarked). The 22K rate is calculated as 24K × (22/24) = 24K × 0.9167, while 18K is calculated as 24K × (18/24) = 24K × 0.75. 18K is the industry standard for diamond and gemstone jewellery because it offers greater tensile strength to securely hold prongs and stones.

While national wholesale bullion prices are anchored to MCX spot rates and international LBMA parity, retail prices differ slightly across cities due to three factors: (1) freight and security transport costs from major import ports (Mumbai, Ahmedabad) or refineries; (2) state-level transportation logistics; and (3) regional jeweller associations (such as IBJA in Mumbai, Madras Jewellers Association in Chennai, or Delhi Bullion Association) setting daily local benchmark opening prices based on regional demand and supply.

When purchasing jewellery in India, the total price is calculated as: Net Price = (Weight in grams × Prevailing Gold Rate) + Making Charges + 3% GST on (Metal + Making Charges) + BIS Hallmarking Fee (₹45 + 18% GST = ₹53.10 per piece). Making charges typically range between 8% and 25% depending on whether the design is machine-made, handmade, antique, or temple jewellery. Note that making charges are generally unrecoverable upon resale.

Since April 1, 2023, the Bureau of Indian Standards (BIS) mandates that all gold jewellery sold in India must carry a 6-digit alphanumeric Hallmark Unique Identification (HUID) code. A genuine hallmarked piece has three laser-etched stamps: (1) the BIS triangle logo; (2) purity and fineness mark (e.g., 22K916, 18K750, 14K585); and (3) the 6-character HUID. Consumers can download the official "BIS Care" mobile app, enter the HUID, and instantly verify the jeweller’s registration, hallmarking centre, and stamping date.

Physical gold provides a tangible asset for cultural use, but carries making charges (8%–25%), storage/theft risk, and resale deductions. For wealth creation, Gold ETFs and Gold Mutual Funds track gold spot prices with zero making charges, minimal expense ratios (0.1%–0.5%), instant T+1 market liquidity, and demat safety. Sovereign Gold Bonds (SGBs) issued by the RBI offer an additional 2.50% annual interest payout and complete capital gains tax exemption if held until 8-year maturity, though secondary market liquidity is lower.

Under the Finance (No. 2) Act 2024: (1) The holding period for Long-Term Capital Gains (LTCG) on physical gold and Gold ETFs/Funds was reduced from 36 months to 24 months. (2) LTCG (held > 24 months) is taxed at 12.5% without indexation benefits. (3) Short-Term Capital Gains (STCG, held ≤ 24 months) are added to your taxable income and taxed at your applicable slab rate. (4) SGB redemptions at 8-year maturity remain 100% tax-free for individual investors.

The Gold-to-Silver ratio represents how many ounces (or grams) of silver it takes to purchase one ounce (or gram) of gold (calculated as Gold Price ÷ Silver Price). Historically, the ratio fluctuates between 60:1 and 85:1. When the ratio is above 80–85, silver is historically considered undervalued relative to gold. When it drops below 60, gold is considered undervalued relative to silver. Quantitative commodity investors use this ratio to rebalance between gold and silver exposures.

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