Gold is expensive. There is no other way to put it. If you’ve walked past a Tanishq or a Malabar Gold showroom lately, you’ve probably noticed the crowds are a bit thinner, or at least a lot more hesitant. For anyone asking what is the price of gold today in india, the answer is a heavy one. As of January 15, 2026, we are looking at roughly ₹1,43,180 for 10 grams of 24-carat gold.
It's wild. Just a year or two ago, these numbers would have seemed like a typo. But today, they’re the reality of a market fueled by global chaos and central banks acting like they’re preparing for the end of the world.
Honestly, the retail mood is mixed. It’s Pongal and Makar Sankranti, which usually means people are lining up to buy. But with 22-carat gold sitting at approximately ₹1,31,250 per 10 grams, that "small" gold coin for a gift now costs as much as a high-end smartphone.
The Numbers: What Is the Price of Gold Today in India?
Let's get the raw data out of the way. If you’re planning to buy, you need to know that the price isn't uniform. It changes based on where you are. Chennai is usually the outlier. While prices in Mumbai and Delhi have seen a slight "crash" (if you can call a few hundred rupees a crash), Chennai is actually seeing all-time highs today because of the festival demand.
For 24-carat gold (that's the 99.9% pure stuff), you're paying about ₹14,318 per single gram in most cities like Bangalore and Hyderabad. If you're looking at jewellery, which is 22-carat, the rate is around ₹13,125 per gram.
Chennai is a different story today. Because of Pongal, the demand has surged, pushing 24-carat rates to nearly ₹1,44,980 for 10 grams. That’s a massive gap. It basically means where you live in India right now determines whether you’re getting a relative "deal" or paying a massive premium.
City-Wise Breakdown (Roughly)
In Mumbai, the 10-gram rate for 24K is hovering at ₹1,43,180.
Delhi is slightly higher at ₹1,43,330.
Kolkata matches Mumbai's vibe at ₹1,43,180.
And then there's Chennai, hitting those record highs near ₹1,45,000.
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It’s not just the gold itself. You’ve got to add the 3% GST on top of these rates. Then come the making charges, which for intricate Indian jewellery, can add another 10% to 20% to your final bill. Basically, that "sticker price" you see online? Yeah, add about 15% to 20% to that before you swipe your card.
Why is Gold So Expensive Right Now?
It's not just India. The world is kind of a mess.
International spot gold has crossed $4,600 per ounce. That’s a psychological barrier that many experts didn't think we'd hit so early in 2026. So, what’s driving this?
First off, central banks. They are buying gold like there's no tomorrow. Countries like China and the U.S. are hoarding reserves. When the big players buy in bulk, the price for you and me at the local jeweller goes up. Simple supply and demand.
Then there's the geopolitical side. We’ve seen ongoing tension in Iran and a very messy situation in Venezuela lately. Whenever the news looks scary, investors run to gold. It's the "safe haven." People don't trust currencies as much when there’s talk of tariffs and trade wars, so they put their money into the yellow metal.
Interestingly, a weaker U.S. dollar has also played a role. Since gold is traded globally in dollars, a dip in the dollar’s value makes gold cheaper for other countries to buy, which—ironically—drives the price up because demand spikes.
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The "Pongal Effect" and Regional Trends
In India, gold isn't just an investment; it's cultural. Right now, during the harvest festivals, the demand is supposed to be at its peak. But the high prices are causing a bit of a "wait and watch" approach for many.
I was talking to a friend who works in the bullion trade in Ahmedabad. He said that while the value of gold being traded is at a record high, the volume—the actual weight of gold moving—is lower than last year. People are buying thinner chains and smaller earrings. They want the gold, but they can't afford the same weights they used to.
In Gujarat, the 24K rate is around ₹1,45,313 today. That’s significantly higher than the national average, partly due to local taxes and high regional demand. It's fascinating how a few hundred kilometers can change the price of your wedding necklace by thousands of rupees.
Is It a Good Time to Buy?
This is the million-dollar question. Or the 1.4-lakh-rupee question.
If you ask someone like Suvankar Sen, the CEO of Senco Gold, they’ll tell you that Indian demand is resilient. But even he acknowledges that high prices are making people cautious. Some analysts, like those at J.P. Morgan, are predicting that gold could hit $5,000 an ounce by the end of 2026. If that happens, the prices we’re seeing today—what is the price of gold today in india—might actually look like a bargain six months from now.
But there’s a flip side. Every rally has a correction. If the tensions in the Middle East ease up or if interest rates in the U.S. stay high, gold could see a sharp dip.
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A Quick Reality Check
- For Investment: Digital gold or Gold ETFs might be better. No making charges, no storage worries.
- For Jewellery: Stick to hallmarked 22K gold. Always check the BIS logo.
- For Gifting: Maybe look at 18-carat gold. It's sturdier and significantly cheaper (around ₹1,07,390 for 10 grams today).
How to Protect Yourself When Buying
Don't just walk in and pay whatever the guy behind the counter says.
- Check the Live Rate: Use apps or websites like IBJA (India Bullion and Jewellers Association) to see the benchmark rate for the hour.
- Ask for the Breakup: Your bill should clearly show the gold price, the making charges, and the 3% GST.
- Hallmarking is Non-Negotiable: If it doesn't have the BIS hallmark, don't buy it. Period.
- Buy-Back Policy: Ask the jeweler what they’ll pay you if you sell it back to them tomorrow. Good ones will offer you the prevailing market rate minus a very small percentage.
The Outlook for the Rest of 2026
Where do we go from here? Most experts from places like Goldman Sachs are still bullish. They think the "safe haven" demand isn't going away anytime soon. We might see gold crossing the ₹1.5 lakh mark per 10 grams before the year is out.
It’s a tough pill to swallow for families planning weddings this year. The "Gold as a Hedge" theory is being proven right in real-time, but for the average consumer, it just feels like everything is getting out of reach.
If you're looking for an entry point, many advisors suggest the "staggered" approach. Don't dump all your savings into gold today. Buy a little bit now, and if the price dips next month, buy a little more. It averages out your cost and keeps you from having a heart attack if the market suddenly corrects.
Actionable Steps for Today
If you need to buy gold today, start by comparing the rates in your specific city versus the national average. If you're in a city like Chennai where prices are peaking due to local festivals, it might actually be cheaper to wait a week until the celebrations settle down.
Always negotiate on making charges. While the gold price is fixed, the making charge is where the jeweler has a margin. You can often get a 5% to 10% discount on those charges just by asking.
Lastly, keep an eye on the U.S. Federal Reserve news. Their decisions on interest rates usually hit the Indian gold market within 24 hours. If they hint at a rate cut, expect gold prices in India to climb even higher. Stay informed, stay cautious, and don't let the "glitter" blind you to the math.
To get the most accurate final price for your purchase, take the current 22K rate, add your jeweler's making charge per gram, and then multiply the total by 1.03 to account for the mandatory GST. This will give you the real "out-of-pocket" cost before you even enter the store.