18k Gold Prices Today in India and US

In India, the 18k gold price is influenced by various factors including the gold rate in the international market, which is typically higher in the US. The gold rate in the US is often higher due to the country's strong economy and high demand for gold.

The current gold price in India is around 45,000 to 50,000 rupees per 10 grams, depending on the city and market conditions. This price is subject to change based on the gold rate in the international market.

If you're planning to buy 18k gold in India, it's essential to check the current gold price before making a purchase. This will help you get the best deal and ensure that you're not overpaying for the gold.

Expand your knowledge: Spot Price vs Market Price

India Gold Prices are largely determined by the global market trends, but there are some unique factors that affect the prices in India. The Indian Bullion Jewellers Association (IBJA) plays a vital role in determining the daily gold rates in India.

The prices of 18K gold vary across different cities in India, with Chennai having the highest price of ₹59,130.00+375 (0.36%) as of the latest available data. In contrast, Delhi has the lowest price of ₹58,867.50+375 (0.36%).

Here are the prices of 18K gold in different cities in India:

In India, the prices of 18K gold vary across different cities. Chennai has the highest price at ₹59,130.00+375 (0.36%), while Delhi has the lowest price at ₹58,867.50+375 (0.36%).

You can see the prices for other major cities in India in the table below:

These prices are subject to change, so it's always a good idea to check the current prices before making a purchase.

In India, gold prices are influenced by cultural beliefs and high demand during festive seasons. Indian households own around 25,000 tonnes of gold, making them the world's largest gold collectors.

The Indian jewellery market is closely tied to gold prices, and it's essential to understand how these two factors interact. The high demand for gold during festivals like Dhanteras and Diwali can lead to a surge in gold prices.

Worth a look: Gold Prices during War

Here are some key factors that can impact gold prices in India:

In India, the price of gold is not just determined by its global market value but also by local factors like making charges and taxes. For example, in Dubai, the making charge is relatively low compared to other locations.

To get the best deal on gold in India, it's essential to shop around and compare prices. You can also consider buying gold during off-peak seasons when prices are lower.

The Indian government has implemented various policies to control gold prices, including duty cuts. This can lead to an increase in demand for gold, which can drive up prices.

It's worth noting that gold prices can be affected by global events like conflicts and economic crises. For example, the Israel-Iran crisis led to a dip in gold prices.

To stay up-to-date with the latest gold price news in India, you can follow reputable sources like the World Gold Council and local news outlets.

In India, the price of 18K gold has fluctuated over the past few days. On January 10th, the price of 18K gold was ₹59,070.00.

The price of 18K gold has seen some significant changes in the past few days. On January 17th, the price dropped by ₹1,485.00.

Let's take a look at the historical prices of 18K gold in USD. On January 18th, the price was $65.17. This was the same price as January 17th.

Looking at the prices over a longer period, we can see that the price of 18K gold in USD has varied significantly. On January 16th, the price was $65.45, which is $0.42 higher than January 15th.

Here's a summary of the price of 18K gold in USD over the past few days:

The price of 18K gold has also seen some changes over the past few months. On January 12th, the price was $64.84.

The price of 18K gold has been relatively stable over the past few years. On January 18th, 2024, the price was $62.55.

India's gold prices have been making headlines, and today's rates are no exception. According to the latest updates, 18K gold rates per gram in India have shown a slight increase.

The current price of 1 gram of 18K gold is ₹5,907.00, which is a 0.63% increase from yesterday. This might not seem like a lot, but it's a significant change in the market.

If you're looking to buy gold in bulk, you might want to consider the 100-gram rate, which has increased by ₹3,750 to ₹5,90,700.00.

Here's a breakdown of the current gold rates per gram in India:

Gold prices have been affected by various factors, including global events and economic changes. For instance, the Israel-Iran crisis led to a dip in gold prices, while the duty cut on gold imports is expected to increase demand during festivals.

Gold is typically mixed with other metals to form an alloy, making it more durable and suitable for jewellery.

Pure gold is not suitable for jewellery because it's malleable and ductile, which means it can be easily deformed or stretched.

Gold is measured by its purity, which is denoted by the karat (K) system. 24K gold is pure gold, but it's not commonly used for jewellery.

The karat system represents the number of parts of gold in a 24-part alloy. Here's a breakdown of the most common karat weights:

Gold purity is also represented by the millesimal fineness system, which shows the number of parts of gold in 1000 parts of alloy.

The carat or karat (K) is the unit used to measure the purity of gold.

Gold is typically mixed with other metals to form an alloy.

Pure gold, also known as 24K, is malleable and ductile, but not suitable for jewellery.

It has a purity of 99.9% and a millesimal fineness of 999.

Here's a breakdown of the different karat weights:

Some people prefer 22K gold for their jewellery because it balances durability and affordability.

In Dubai, Indian and other Asian buyers are typically interested in buying 22K jewellery.

The hallmark symbol is a certification mark that indicates the purity of gold in a piece of jewelry. It's a crucial aspect of gold hallmarking that ensures the metal's authenticity and value.

The hallmark symbol for 18-carat gold is the number "750", which signifies that the gold content is 75% while the remaining percentage comprises alloy metals.

Hallmarking involves a certification process by authorised assay offices and independent organisations examining metals' purity.

The international gold standard is a benchmark for gold contracts and products, and it's set in London. The London Gold Fixing is a process that establishes the price of gold globally, and it's used to settle trades in markets worldwide.

The London Gold Fixing is administered independently by the ICE Benchmark Administration (IBA), and it involves two auctions held every business day. The first auction is held at 10:30 am, and the second is held at 3 pm (GMT).

The auction process starts with the IBA setting a starting price based on the current spot price of gold. Participants, which include major banks and financial institutions, then place anonymous and aggregated bids and offers. These bids and offers are adjusted in rounds of 30 seconds until the auction reaches an equilibrium point where the amount of gold offered equals the amount demanded.

The price set in the morning is called the LBMA Gold Price AM, and the price set in the afternoon is called the LBMA Gold Price PM. Prices are quoted in US dollars for a troy ounce (31.1034768 grams) of pure gold (24K).

The participants in the auction include Bank of China, Citibank, Coins' N Things, DRW Investments, Goldman Sachs, HSBC Bank, Jane Street, JPMorgan Chase, Koch Supply and Trading, Marex, Morgan Stanley, Standard Chartered Bank, StoneX, Toronto-Dominion Bank, and Virtu Financial Global Markets.

Here is a list of the participants in the auction:

The table below shows the LBMA Gold Prices for the last seven trading days. Equivalent prices in AED are also listed (1 USD = 3.673 AED).

24K gold is not commonly used in jewellery making due to its softness and malleability.

In fact, it's mostly preferred for bullion and coins because of its high gold content.

24K gold has a composition of 99.9% gold and about 0.1% alloy metals, making it a less durable option for everyday wear.

On the other hand, 22K gold contains 91.67% pure gold and around 8.33% alloy metals, which makes it a more suitable choice for crafting jewellery.

This higher alloy content gives 22K gold its hardness and durability, making it a popular choice for those who want a more durable piece of gold jewellery.

Gold prices in India are influenced by market factors that can cause prices to fluctuate. Supply and demand are the primary drivers of gold prices, with a lesser supply leading to lower prices and higher demand causing prices to rise.

If there is a lesser supply of gold, gold prices may decrease. This is because the available gold is split among more buyers, reducing its value.

During festivals or when people buy gold to hedge against a bearish market, the demand for gold increases, causing gold prices to rise.

Suggestion: Silver Gold Market Prices

Supply and Demand plays a significant role in determining gold prices in India. If there is a lesser supply of gold, gold prices may decrease.

During festivals, people in India tend to buy gold, which increases demand and causes gold prices to rise. This is also seen when people buy gold to hedge against a bearish market.

In India, the cultural significance of gold plays a huge role in shaping the market. Gold is a staple in Indian households, especially during festivals and weddings.

Indian households own an impressive 25,000 tonnes of gold, making them the world's largest gold collectors. This demand is a significant factor in driving up gold prices.

Gold prices in India tend to rise during the festive season due to increased demand. This is reflected in the fluctuating gold rates per gram, as seen in the table below.

Import rates also have a significant impact on gold prices in India. Higher import rates can lead to higher gold prices, and vice versa.