India's Gold Prices Stable Amid International Trends
Gold prices in India remain tied to international spot bullion trends and USD/INR currency dynamics. In physical retail markets, gold is primarily bought in 24-karat and 22-karat options, with 22-karat being the preferred choice for crafting ornaments due to its mixed alloys delivering greater durability.
The rates quoted in benchmark tables and store listings reflect base bullion prices, but are influenced by additional factors such as a standard 3% GST on metal value and separate 5% GST on jewellery making charges. Import duties and local transport surcharges also vary across states.
On September 28, major retail chains like Joyalukkas and Malabar Gold & Diamonds kept prices unchanged, quoting 22K gold at ₹13,995 per gram across most states. Tanishq listed its 22K gold rate at ₹14,040 per gram, while Malabar quoted ₹15,267 per gram for 24-carat gold.