Gold rates across major Indian cities show a narrow band on October 16, with 24K prices clustered around ₹1.31–1.37 lakh per 10 grams and 22K around ₹1.20–1.26 lakh per 10 grams. This update covers Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, Pune, Surat, Jaipur, Nagpur, Nashik, Vadodara, Coimbatore, Visakhapatnam, Vijayawada and Mysore—helpful for retail buyers tracking local premiums, making charges and purity choices before purchasing or selling jewellery.
City-wise Gold Prices
| City | 24K (per 10g) | 24K (per g) | 22K (per 10g) | 22K (per g) |
|---|---|---|---|---|
| Delhi | ₹137,759.00 | ₹13,775.9 | ₹126,279.08 | ₹12,627.9 |
| Mumbai | ₹131,104.90 | ₹13,110.5 | ₹120,179.49 | ₹12,017.9 |
| Bangalore | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Chennai | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Hyderabad | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Kolkata | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Ahmedabad | ₹135,305.30 | ₹13,530.5 | ₹124,029.86 | ₹12,403.0 |
| Pune | ₹131,104.90 | ₹13,110.5 | ₹120,179.49 | ₹12,017.9 |
| Surat | ₹135,305.30 | ₹13,530.5 | ₹124,029.86 | ₹12,403.0 |
| Jaipur | ₹136,884.80 | ₹13,688.5 | ₹125,477.73 | ₹12,547.8 |
| Nagpur | ₹131,104.90 | ₹13,110.5 | ₹120,179.49 | ₹12,017.9 |
| Nashik | ₹131,104.90 | ₹13,110.5 | ₹120,179.49 | ₹12,017.9 |
| Vadodara | ₹135,305.30 | ₹13,530.5 | ₹124,029.86 | ₹12,403.0 |
| Coimbatore | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Visakhapatnam | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Vijayawada | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
| Mysore | ₹135,310.40 | ₹13,531.0 | ₹124,034.53 | ₹12,403.5 |
Quick Highlights
- Jaipur posts the highest 24K rate in this set at ₹136,884.80 per 10g; Mumbai/Pune/Nagpur/Nashik are at the lower end (around ₹131,104.90 per 10g).
- Most southern and eastern metros (Bangalore, Chennai, Hyderabad, Kolkata, Coimbatore, Visakhapatnam, Vijayawada, Mysore) show identical 24K/22K quotes, indicating uniform pricing across those markets today.
- The spread between top and bottom 24K rates is modest—about ₹5,780 per 10g—reflecting limited regional premium variation on this date.
City Notes
- Delhi: Expect slightly higher premiums in retail hubs; negotiate making charges on non-branded items.
- Mumbai: Competitive market with frequent dealer discounts on plain jewellery.
- Bangalore: Branded stores charge premium for design and certification; check BIS marks.
- Chennai: Local demand for traditional temple jewellery can push making charges up.
- Hyderabad: Look for certified pieces; buy-back policies vary by jeweller.
- Kolkata: Seasonal demand can tighten stocks; confirm hallmarking and invoice details.
- Ahmedabad: Diamond and gold trade centres offer competitive buyback rates; verify purity stamps.
- Pune: Smaller neighbourhood jewellers may offer lower making charges but check certification.
- Surat: Strong trade presence—shop around for lower wastage charges on plain gold.
- Jaipur: Slightly higher 24K pricing—artisan work and local demand affect premiums.
- Nagpur: Prices mirror Maharashtra metros; check retail premiums before buying.
- Nashik: Localized premiums can vary; seek written quotes for comparison.
- Vadodara: Jewellery fairs occasionally bring better negotiated making charges.
- Coimbatore: Consistent pricing across the south; examine hallmark and invoice for buyback.
- Visakhapatnam: Port city stocks moderate; check for branded vs unbranded rate differences.
- Vijayawada: Local demand for traditional styles may push up making charges.
- Mysore: Consistent with Karnataka pricing—verify hallmarking on smaller pieces.
What Drives Today’s Prices
- Global spot gold: international bullion moves set the base; retail prices follow LBMA and COMEX trends.
- INR/USD exchange: a weaker rupee raises local rupee prices; a firmer rupee can blunt imported gold costs.
- Import duty and local taxes: duties, GST (on making/transaction elements) and state levies affect retail tags.
- MCX and local futures: domestic derivatives influence near-term pricing and retailer hedging decisions.
- Seasonal demand and retail sentiment: festivals, weddings and local jewellery festivals alter premiums and making charges.
Buyer Tips
- Prefer BIS hallmark: Always buy gold with a BIS hallmark (karat and purity) and a proper tax invoice.
- 24K vs 22K: 24K (999) is pure and softer—best for investment coins/bars; 22K (916) is harder and common for everyday jewellery.
- Making charges and wastage: These are retailer-determined; they can exceed metal cost for intricate designs—ask for itemised bills.
- Buy-back and exchange terms: Confirm buy-back rates, purity acceptance and any handling fees before purchase.
- Verify weight and invoice: Ensure gross/net weight, stone weight (if any) and charges are clearly listed on the invoice.
FAQs
- Q: Do these rates change during the day?
A: Yes—gold prices fluctuate intraday with international spot moves and currency swings; retail quotes update accordingly. - Q: How do I confirm purity?
A: Look for BIS hallmark stamps indicating karatage and laboratory mark; insist on a proper invoice with purity stated. - Q: Are making charges negotiable?
A: Often yes—especially for plain gold or bulk purchases; branded stores may be less flexible but offer service guarantees. - Q: When is the best time to buy gold?
A: From a price standpoint, buy when global spot and rupee trends are favourable; from a value standpoint, buy during discounts or lower making-charge periods and outside peak demand seasons.
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.