India's Gold Prices Tied to Global Trends Amid Regional Price Variations

Gold prices in India remain anchored to international spot trends and USD/INR currency dynamics. In the physical retail market, gold is primarily bought in 24-karat and 22-karat options, with 22-karat being the preferred choice for crafting ornaments due to its durability.

The rates quoted in benchmark tables and store listings reflect base bullion prices, but retail purchases attract a standard 3% GST on the metal's value plus an additional 5% GST on jewelry making charges. Import duties and local transport surcharges also influence regional price variations across states.

On September 26, major brands including Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹14,010 per gram across most states, while Tanishq listed its 22K gold rate at ₹14,055 per gram. For 24-carat gold, Malabar quoted ₹15,284 per gram, with Tanishq standing at ₹15,333 per gram.