Gold Prices Hold Steady in India Amid Festive Season Demand

Gold prices in India remain relatively stable on September 13, with Joyalukkas and Malabar Gold & Diamonds quoting ₹14,155 per gram across major states. Tanishq's 22K gold rate stands at ₹14,200 per gram, while its 24-carat gold rate is estimated to be ₹15,491 per gram. The prices are influenced by international trends and domestic demand, particularly ahead of the festive season.

The retail market in India mainly deals with two purities of gold: 24-karat and 22-karat. While 24-karat gold is considered pure, 22-karat gold is more widely used for jewelry due to its strength and durability. The prices at top jewellers, including Joyalukkas and Malabar Gold & Diamonds, are largely in line with the prevailing market trends.

According to recent data, only 15% of India's gold is monetised, suggesting that gold loans could become a new consumption engine. However, this remains a subject for further analysis and study.