Gold Rate Today in New Delhi - 22 Carat and 24 Karat Gold Price in New Delhi (17th November 2024)

Gold is considered a very good asset and also a great investment because of its resale value. It is also an important asset as per our customs. You can purchase gold in different forms such as jewellery,  gold coins, gold bonds etc. 

It is important to know the purity of Gold. The Indian Bullion Association decides the purity and the gold rate in Delhi. All the sellers and traders are required to maintain the mark set by the association. Gold Rate in Delhi is showing movement since the starting of the year. This happened as the equity share market had fluctuations which was the reason for the movement of investors to invest in gold instead of the share market as it is a safe asset. Gold has been seen as a safer investment because of the fluctuations in the share market.

Gold Rate in Delhi For Last 10 Days

Historical prices of gold rate in Delhi (10 grams)

Gold Price in Delhi   

Even in Delhi, our capital, Gold is a traditional  jewellery metal for auspicious occasions. The gold rate in Delhi has recently been falling and it is one of the highest gold consuming cities in the country. Worldwide, India ranks as the 2nd largest gold consumer. Numerous factors and global trends influence gold price in Delhi.  In Delhi, there will be a large market for gold, though buyers primarily show their preference for physical gold. But buyers also invest in gold as a long term commodity. Gold is mainly categorised into 22 carat and 24 carat gold. Today’s gold rate in Delhi is based on the gold rate which is set by gold importers, banks and MCX future prices. Current gold rates in Delhi varies from other states based on making charges, other local charges and also transportation costs. 

Also Read: Steps to Calculate the Gold Price for Jewellery

How to determine the purity of gold?

The Indian Bullion Association is responsible for determining the purity of gold. The global stock market influences the price of gold in Delhi, and also in other cities. These are the various types of purity measures of gold in Delhi.

• The purity of gold is certified by a method called hallmarking and it is under the control of the Bureau of Indian Standards (BIS). BIS marking has four important parts in determining the purity of gold. 
• Those are BIS mark, hallmarking centres identification number,  jeweller’s identification number, purity in carats. The above are the various methods in determining the purity of gold. It is mostly done by using a magnet. There will be some portion of metal in impure gold so that it will get attached to a magnet. 
• Also, when one stone is rubbed on another stone, it will leave a streak. This method is one of the best methods to check 24 carat purity of gold. 
• Nowadays Carat checking machines are widely used to determine the purity of gold. 
• If you are buying gold, it is better to opt for either 24 carat gold or 22 carat gold, check the price of the gold before you buy it. Make sure to buy from BIS centres as they provide the best purity hallmarks. 

Gold Investments  - Today’s best option

Generally, there used to be a belief that while gold investments are profitable, the returns on the investment were not going to be very high compared to stock markets for example. During times of fall in currency and inflation, gold protects your purchasing power. Make sure that the gold price when you buy is at its possible lowest, then the perfect time to sell gold is when its price is at most high so that you can make good returns.

Here’s a look at the comparison between a gold investment with mutual funds 

Digital Gold

Gold investments can be made in different forms and includes physical gold, digital gold and gold bonds.

Let’s understand in detail:

Physical -  The traditional method of buying gold for personal use in the form of coins, jewellery and considered is also as an investment.

Gold bonds –  Many investors usually prefer buying gold bonds because various charges like making charges and wastage charges can be excluded here.

Digital gold – Gold in electronic form is considered digital gold. Customers can buy gold online and it can be stored by the seller on behalf of the customer. Digital gold is an easy way to invest in gold. You can invest in digital gold through online platforms like Khatabook. 

Also Read: What are Gold Exchange Traded Funds or Gold ETFs?

Gold Rates in Delhi are influenced by the following factors:

From domestic to international concerns, various factors are responsible for the changes in the gold price in Delhi.  A few of these factors are given below 

• Political concerns: Across the world,  gold is seen as a safe investment. However political issues also contribute to fluctuations in the market. For instance, the Russian wars and the Syria attack had previously caused market fluctuations. When these events occur, the gold rate in Delhi also gets affected.
• US Federal Reserve Interest: Worldwide,  gold is always traded in US Dollars. So any changes in the currency value also have a major impact on gold prices in Delhi. E.g., when the US Federal Reserve increases its interest rate, there will be demand for gold leading to lower gold rates in Delhi. 
• US Dollar to Rupee Value:  In simple words, an increase in the US dollar rate will increase the gold price and a decrease in the US dollar rate will decrease the gold rate in Delhi. Thus the US dollar rate and the price of the gold are directly related.
• Local Factors: Some local factors like gold’s transportation charges to transport gold to and from Delhi also influences the gold price in Delhi.

Where To Buy Gold In Delhi?

Here some popular jewellers where you can buy gold in Delhi:

1. Hazoorilal Jewellers
2. PC Jewellers
3. Kalyan Jewellers
4. Tbz
5. Mehrazons Jewellers

Things to check before buying gold in Delhi:

Across the globe, on average, we Indians buy a lot of jewellery. Now there is also n increasing demand for investing in gold. most of the gold jewellery is bought by Indians. So you can get the best value for your money by keeping the following points in view: 

1. Purity of Gold: Carats are a measure used for gold purity. 99.9% pure gold is 24 carat gold and 91.6%  pure gold is 22 carat gold. 
   • Here one carat gold is equal to 4.2% pure gold. It means 14 carats gold is equal to 58.33% pure and 18 carats gold is equal to 75 per cent pure gold. 
   • Only 22 carats, 18 carats, and 14 carats gold is used for making jewellery and 24 carats is not approved for making jewellery.
   • So before buying gold, it is necessary to check the purity of gold. It is always better to buy BIS hallmarked jewellery because it is tested by certifying agencies 
2. Making charges: These charges are calculated on the jewellery piece and may vary. These are charges that go into making a specific piece of jewellery. Making charges also affect gold rates in Delhi. If possible try to check making charges at other jewellers too before you make a purchase. It is better to opt for fixed making charges so that it will reduce the total cost.
3. Man made or Machine made jewellery: Nowadays, the demand for gold is higher, so you are more likely to come across machine jewellery. The making charges for machine made jewellery is generally less, compared to man made jewellery. 
4. Measure the weight: In Delhi, gold is sold on a weight basis. Precious stones and gems such as ruby, emerald, and diamond are incorporated into gold jewellery to make the whole piece look more elegant. So here you have to pay for the gold weight and stones weight separately. It is important to understand this at the time of buying studded jewellery. 
5. Sales:  Higher sales in gold jewellery are mostly during festival seasons and wedding seasons. So if you buy during these seasons, the gold rate will be comparatively high. So it is advisable to buy gold during off season because you can get more discounts and comparatively lower prices.
6. Buybacks:  It is the process in which old jewellery items can be exchanged for new jewellery items. Almost every jewellery shop offers a buyback option. Gold value mostly remains constant but many designs change on basis of trend. Find out the buyback options before you make a purchase.
7. Jewellery store: There various types of jewellery stores, from small to big, branded etc. It is always better to buy gold from branded stores rather than small shops because there is a chance because of getting less pure gold. Also, branded jewellery shops tend to offer guarantees and other benefits.

Also Read: Here are the 8 Most Famous Types of Gold

Trading of Digital Gold 

You can visit any of the platforms, like Khatabook which trade in digital gold. The following steps should be kept in mind while trading: 

1. Enter an amount in rupees or grams.
2. Pick your payment option.
3. Gold to be stored in a secured locker.
4. Sell whenever you need.
5. Physical delivery of the gold should be taken.