On November 18, retail gold rates across major Indian cities show modest variation driven by local premiums and currency moves. This report covers Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, Pune, Surat, Jaipur, Nagpur, Nashik, Vadodara, Coimbatore, Visakhapatnam, Vijayawada and Mysore, giving per‑10g and per‑gram rates for 24K and 22K bullion. Use these city‑level quotes as a snapshot for retail buying — always confirm with your local jeweller for live rates, making charges and buy‑back terms before transacting.
City-wise Gold Prices
| City | 24K (per 10g) | 24K (per g) | 22K (per 10g) | 22K (per g) |
|---|---|---|---|---|
| Delhi | ₹131,561.80 | ₹13,156.2 | ₹120,598.32 | ₹12,059.8 |
| Mumbai | ₹124,977.40 | ₹12,497.7 | ₹114,562.62 | ₹11,456.3 |
| Bangalore | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Chennai | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Hyderabad | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Kolkata | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Ahmedabad | ₹129,108.00 | ₹12,910.8 | ₹118,349.00 | ₹11,834.9 |
| Pune | ₹124,977.40 | ₹12,497.7 | ₹114,562.62 | ₹11,456.3 |
| Surat | ₹129,108.00 | ₹12,910.8 | ₹118,349.00 | ₹11,834.9 |
| Jaipur | ₹130,668.70 | ₹13,066.9 | ₹119,779.64 | ₹11,978.0 |
| Nagpur | ₹124,977.40 | ₹12,497.7 | ₹114,562.62 | ₹11,456.3 |
| Nashik | ₹124,977.40 | ₹12,497.7 | ₹114,562.62 | ₹11,456.3 |
| Vadodara | ₹129,108.00 | ₹12,910.8 | ₹118,349.00 | ₹11,834.9 |
| Coimbatore | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Visakhapatnam | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Vijayawada | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
| Mysore | ₹129,113.10 | ₹12,911.3 | ₹118,353.68 | ₹11,835.4 |
Quick Highlights
- Highest 24K (per 10g): Delhi at ₹131,561.80; Lowest: Mumbai/Pune/Nagpur/Nashik at ₹124,977.40 — a gap of ~₹6,584.40 per 10g across cities.
- Many southern and eastern metros (Bangalore, Chennai, Hyderabad, Kolkata, Coimbatore, Visakhapatnam, Vijayawada, Mysore) show nearly identical retail rates, indicating similar local premiums.
- Ahmedabad, Surat and Vadodara cluster closely around ₹129,108–129,113 per 10g for 24K, slightly below Jaipur and Delhi.
City Notes
- Delhi: Higher base rates; negotiate on making charges and confirm BIS hallmark.
- Mumbai/Pune/Nagpur/Nashik: Relatively lower quoted rates — compare buy‑back and invoice details.
- Bangalore/Chennai/Hyderabad/Kolkata/Coimbatore/Visakhapatnam/Vijayawada/Mysore: Uniform pricing suggests standardized dealer premiums; verify net payable after making charges.
- Ahmedabad/Surat/Vadodara: Jewellery hubs — expect competitive designs and periodic discounts; check purity and hallmark.
- Jaipur: Slightly higher than many metros; enjoy strong local craftsmanship but confirm waste/making rates on intricate pieces.
What Drives Today’s Prices
- Global spot gold: International bullion prices set the floor for domestic retail rates; overnight moves on COMEX/LBMA filter through to MCX and local sellers.
- INR/USD movement: A weaker rupee raises landed cost for import‑linked supply, pushing retail quotes higher; a stronger rupee eases pressure.
- Import duty & taxes: Customs duty, GST on making charges and local levies influence final retail premiums and buy‑back economics.
- MCX and domestic futures: Intraday signals from MCX and dealers’ hedging flows often inform retail price adjustments.
- Local demand & seasonal buying: Festivals, weddings and regional demand pockets affect premiums and immediate availability.
Buyer Tips
- Prefer BIS hallmark: Always insist on BIS‑hallmarked jewellery and check the stamp for karatage and hallmarking centre.
- 24K vs 22K: 24K = highest purity but softer (suitable for coins, bars); 22K = alloyed for durability in jewellery — choose per use.
- Making charges & wastage: These are retailer‑specific and can exceed metal cost on intricate pieces — get a breakup on invoice.
- Buy‑back and invoice: Clarify buy‑back rate (metal value only or inclusive of making), return policy, and obtain a detailed bill with carat, weight and making charge breakdown.
FAQs
- Q: Are these retail rates final for purchase? A: These are indicative city quotes per 10g and per gram; final payable amount depends on making charges, taxes and real‑time updates — confirm with your jeweller.
- Q: How do I verify purity? A: Look for the BIS hallmark and karat mark (e.g., 22K / 916). For bars, check manufacturer stamp and assay card where applicable.
- Q: Why do making charges vary so much? A: Making charges reflect labour, design complexity, and shop policy; high craftsmanship pieces command higher charges, while simple plain jewellery is cheaper to make.
- Q: When is the best time to buy? A: For lowest metal cost, watch for dips in international spot prices and a stronger rupee; for overall savings, consider off‑season offers and compare making charges across jewellers.
Disclaimer
Rates vary by jeweller, locality, and time. Confirm locally before purchase.
I am G S Sachin, a gemologist with a Diploma in Polished Diamond Grading from KGK Academy, Jaipur. I love writing about jewelry, gems, and diamonds, and I share simple, honest reviews and easy buying tips on JewellersReviews.com to help you choose pieces you’ll love with confidence.