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Gold just made history. For the first time ever, 24K gold crossed Rs 1,00,000 per 10 grams in India's retail market. In cities like Delhi, Mumbai, Chennai and Hyderabad, prices are now hovering around Rs 1,01,350 for 24K and Rs 92,900 for 22K.
Why is gold on fire?
The short answer: fear. The long answer includes a cocktail of global uncertainty, currency weakness and investor anxiety.
-
Escalating geopolitical tensions
: Heightened trade disputes, particularly between major economies, have led investors to seek safe-haven assets like gold.
-
Weaker US dollar
: The depreciation of the US dollar has made gold more attractive as an investment, contributing to its price increase.
-
Central bank purchases
: Central banks, especially in emerging markets, have increased their gold reserves, adding to the demand.
- Market volatility : Fluctuations in global stock markets have prompted investors to diversify their portfolios with gold.
So this isn't just about Indian weddings or festive demand—this is global macro at play.
City-wise gold prices (Per 10 grams)
| City | 22K gold price | 24K gold price |
|---|---|---|
| Delhi | Rs 93,050 | Rs 1,01,500 |
| Mumbai | Rs 92,900 | Rs 1,01,350 |
| Chennai | Rs 92,900 | Rs 1,01,350 |
| Kolkata | Rs 92,900 | Rs 1,01,350 |
| Hyderabad | Rs 92,900 | Rs 1,01,350 |
| Bangalore | Rs 92,900 | Rs 1,01,350 |
22K vs 24K: What's the difference, really?
Let's break this down in simple terms:
- 24K gold is 99.9 per cent pure. That's what you buy when you're investing—coins, bars, digital gold, ETFs, and SGBs are all 24K.
- 22K gold is about 91.6 per cent pure. It's mixed with alloys to make it more durable, and is the standard for most jewellery.
So when you see two prices—say Rs 92,900 for 22K and Rs 1,01,350 for 24K—you're essentially seeing the premium for purity.
Final take
Gold hitting Rs 1 lakh is a headline moment. However, it's your cue to rebalance. Gold should be 5-10 per cent of your portfolio, not a main bet.
Read our CEO Dhirendra Kumar's view on gold .
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