Gold Rate Today in Bengaluru

What moves the gold rate in India

Four things, in roughly this order. The international spot price, set in London and New York and quoted in dollars an ounce. The rupee — a weaker rupee raises the Indian price even when the dollar price has not moved. Import duty and GST, which add a fixed percentage on top. And local demand, which spikes around Dhanteras, Akshaya Tritiya and the wedding season.

22K, 24K and 18K — which one are you buying?

24 carat is 99.9% pure and is what coins, bars and sovereign gold bonds are priced on. It is too soft for jewellery. 22 carat is 91.6% gold — the “916” stamped inside your bangle — and is what almost all Indian jewellery is made from. 18 carat is 75% gold, used for stone-set and lighter designs. The rate scales with the purity, which is why the 22K figure is always 22/24ths of the 24K one.

Why your jeweller’s bill is higher than this page

The rate here is the metal. On top of it a jeweller adds making charges — usually 8% to 25% of the metal value, and often far higher for intricate work — plus 3% GST on the total, and sometimes a wastage percentage. Ask for the breakdown in writing. Two shops quoting the same gold rate can hand you bills that differ by a fifth.

Checking purity before you pay

Look for the BIS hallmark and the six-digit HUID. Hallmarking is mandatory for most jewellery sold in India, and the BIS Care app lets you verify the number against the registered jeweller. An unhallmarked piece bought at a hallmarked price is the oldest trick in the trade.

Buying gold without buying jewellery

Sovereign gold bonds pay interest on top of the gold price and are exempt from capital gains tax if held to maturity. Gold ETFs and gold mutual funds track the price with no storage problem and no making charges. Digital gold is convenient but is not regulated the way the other three are. For an investment rather than an ornament, jewellery is the most expensive way to own gold.

Frequently asked questions