Gold prices are holding firm across major Indian cities, with 24K gold hovering just below the Rs 1 lakh mark. While jewellers stay busy ahead of Akshaya Tritiya, investors might want to take a step back and ask: Is this the smartest way to own gold anymore?
Let's break it down.
Why is gold rising?
-
Safe haven demand
: Geopolitical jitters and economic uncertainty are keeping gold in demand.
-
Central bank buying
: Global central banks (especially China) are loading up on reserves.
- Weaker rupee and dollar moves : Making imported gold more expensive locally.
Gold prices across cities (per 10g)
| City | 24K gold (₹) | 22K gold (₹) |
|---|---|---|
| Delhi | 98,340 | 90,200 |
| Mumbai | 98,240 | 90,050 |
| Kolkata | 98,240 | 90,050 |
| Chennai | 98,240 | 90,050 |
| Hyderabad | 98,240 | 90,050 |
| Bangalore | 98,240 | 90,050 |
So yes—prices are still high historically. But the psychological Rs 1 lakh level? Gold just slipped under it.
22K vs 24K—what's the deal?
-
24K gold
is 99.9 per cent pure. Shiny, soft, and great for investments—but not ideal for jewellery.
- 22K gold is 91.6 per cent pure, mixed with metals for durability. That's what you typically get in ornaments.
Final take
While buying gold for cultural or personal reasons is fine, physical gold isn't the best way to invest. Instead, consider:
-
Sovereign Gold Bonds (SGBs)
—no storage hassle, 2.5 per cent annual interest, tax-free maturity
- Gold ETFs or gold mutual funds —market-linked, liquid, and easy to exit
Read our CEO Dhirendra Kumar's view on gold.
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