Gold Prices in India: Compare Bullion, ETFs and Jewellery

A gold quote is only useful when you know what it measures. A futures contract, an exchange-traded fund (ETF) unit, a bullion reference rate and a jeweller’s selling price are different products. Check the unit, purity, date, source and included charges before comparing them.

How gold price is quoted in India

IBJA publishes reference prices for several purities, including 999 (about 24K) and 916 (about 22K), normally per 10 grams and excluding GST and making charges. For an approximate metal-only comparison, ₹1,00,000 per 10 grams of 999 gold corresponds to roughly ₹91,600 for 10 grams at 916 purity before differences in market pricing or charges. A shop bill may use a different rate and add making charges, taxes and other disclosed items.

Sources of gold price data

• IBJA reference rates — dated Indian bullion prices by purity, published on business days and excluding GST and making charges.
• MCX or COMEX futures — prices of dated contracts; they are not the same as a retail spot or jewellery price.
• Gold ETFs such as GOLDBEES — exchange-traded fund units with market prices that can differ from the value of underlying gold after expenses and trading spreads.
• Local jewellers — a selling price for a specified purity and product, with making charges and taxes shown on the bill.

Why online gold prices differ from jeweller prices

A bullion reference rate excludes the making charges and GST on a jewellery bill. A futures-derived indication and an ETF market quote have different units and pricing mechanics too. Ask for the purity, net gold weight, rate per gram, making charge and tax lines on a jewellery bill; compare an ETF with its published fund documents and exchange quote. Do not treat any one of these as the checkout price for another.

Gold vs Silver — which to track for portfolio decisions?

Gold and silver can both lose value over the period that matters to you. Silver also has significant industrial demand, so the two metals need not move together. There is no universal percentage that suits every investor. If considering either, first identify its role in your total portfolio, the money’s time horizon, the product’s costs and the loss you could tolerate.

Best ways to act on gold price movements

• SGB (Sovereign Gold Bonds) — check the series, exchange price, maturity and whether you qualify for any redemption tax exemption.
• Gold ETF — check the exact fund’s expenses, bid–ask spread, tracking and exchange trading hours before comparing it with other products.
• Digital gold — check who holds the metal, the buy–sell spread, custody terms and any regulatory limitations before purchasing.
• Physical gold — compare purity, storage, resale deductions and making charges with your reason for buying it.
• Portfolio allocation — review the weight of each asset against your goals and liquidity needs; a price jump alone is not a reason to trade.

Our Gold Price Today page shows an indicative estimate when a dated data source is available. It can derive a rate from COMEX futures and USD/INR, with an ETF-based fallback when available. This is not an IBJA rate or a jeweller’s quote. Read its source and timestamp, then verify a time-sensitive price at the relevant market or seller.