Gold prices in India showed slight variations across major cities on the current trading day, with Chennai emerging as the most expensive market for the precious metal. Investors and jewellery buyers are closely monitoring these daily fluctuations, which are influenced by a combination of international trends and local factors.
City-Wise Breakdown of Gold Prices
The data, sourced from GoodReturns, reveals a detailed picture of the bullion market. For the purest form, 24-carat gold was priced at ₹13,964 per gram in Chennai, making it the costliest among the listed metros. In contrast, Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune all reported an identical rate of ₹13,871 for 24K gold. Delhi followed closely at ₹13,886, while Vadodara and Ahmedabad were pegged at ₹13,876.
Comparing 22K and 18K Gold Rates
The trend for 22-carat gold, commonly used in jewellery, mirrored that of 24K. Chennai again led with a price of ₹12,800 per gram for 22K gold. The cluster of cities including Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune reported a rate of ₹12,715. Delhi's price was ₹12,730, and Vadodara and Ahmedabad were at ₹12,720.
For 18-carat gold, the variations were more pronounced. Chennai maintained its top position at ₹10,680 per gram. The price in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune was ₹10,403. Delhi's rate was slightly higher at ₹10,418, and both Vadodara and Ahmedabad were at ₹10,408.
What This Means for Buyers and Investors
The persistent premium in Chennai can be attributed to factors like strong local demand, higher state taxes, and supply chain logistics. The minimal differences between cities like Mumbai and Pune, or Vadodara and Ahmedabad, indicate regional market alignment. For anyone planning to buy gold today, checking these city-specific rates is crucial as even a small difference per gram can significantly impact the total cost of jewellery or investment bars. The stability in prices across most western and southern cities, barring Chennai, suggests a consolidated market sentiment for the day.
