Gold Price Today: 24 Carat Drops Below ₹98,000 – Check Latest Rates in Delhi, Mumbai, Chennai & More

If you’re someone who keeps a close eye on gold prices, whether for investment, jewellery shopping, or festive gifting, then here’s an important update for you. The price of gold has witnessed a slight drop today, bringing a bit of relief for buyers.

On Thursday, the price of 24-carat gold stood at ₹97,337 per 10 grams. But by Friday morning, it slipped to ₹97,142 per 10 grams, showing a marginal fall. Even though the difference isn’t huge, this kind of movement can make a difference if you’re buying in bulk or planning for a wedding.

Let’s break it down in detail and look at today’s gold and silver rates, carat-wise pricing, and city-wise comparisons, so that you can make an informed decision before heading to the jeweller’s shop.

Gold Price Today – Key Highlights

• 24 Carat Gold: ₹98,700 per 10 grams (bullion rate)

• 22 Carat Gold: ₹90,500 per 10 grams

• 995 Purity Gold: ₹97,753 per 10 grams

• 916 Purity Gold (22 Carat): ₹88,982 per 10 grams

• 18 Carat Gold (750 Purity): ₹72,857 per 10 grams

• 14 Carat Gold: ₹56,828 per 10 grams

• Silver Price Today: ₹1,07,367 per kg (999 purity)

Note: These rates are exclusive of GST and making charges. Always check the final price with your local jeweller.

IBJA Gold Rates – What Do They Mean?

These prices are issued by IBJA (India Bullion and Jewellers Association)  the official source that gives updated rates based on bullion market trends. The IBJA releases prices twice daily – once around 12 noon and then again in the evening around 5 PM.

These rates serve as a benchmark for retail jewellers, but the final selling price may vary slightly based on brand, design, and making charges.

Also, ever since GST (Goods and Services Tax) was applied to gold jewellery (currently at 3%), there has been a noticeable increase in final retail prices.

City-Wise Gold Rates Today (Per 10 grams)

Here’s how the price of gold is looking in major Indian metro cities:

Chennai

• 24 Carat: ₹98,730

• 22 Carat: ₹90,500

Mumbai

• 24 Carat: ₹98,730

• 22 Carat: ₹90,500

Kolkata

• 24 Carat: ₹98,730

• 22 Carat: ₹90,500

Patna

• 24 Carat: ₹98,730

• 22 Carat: ₹90,500

Delhi

• 24 Carat: ₹98,880

• 22 Carat: ₹90,650

All prices are updated as per Friday morning’s trend and can slightly vary by location or jeweller.

What’s Driving Gold Prices Right Now?

Gold rates in India are influenced by a mix of domestic and international factors, such as:

• Global gold prices (especially COMEX)

• USD to INR exchange rate

• Inflation and interest rate trends

• Central bank policies (like RBI or US Fed decisions)

• Demand during festive seasons and weddings

Currently, international gold prices are stable but cautious, owing to uncertainty around US economic policies and inflation rates. As a result, prices in India are moving within a tight range.

Gold Purity Explained: What’s the Difference Between 24K, 22K, 18K & 14K?

If you’re confused about which gold type to buy, here’s a simple breakdown:

22-carat gold is most commonly used in India for traditional jewellery as it offers a good balance between purity and durability.

Silver Rates Also See a Surge

Not just gold, silver too is in demand especially for gifting or silverware. As per IBJA:

• Silver (999 purity) is priced at ₹1,07,367 per kilogram.

Silver is often seen as a good hedge against inflation, and many investors are slowly turning toward it as an affordable alternative to gold.

Should You Buy Gold Now or Wait?

While gold prices have dropped slightly today, they are still near historic highs. So if you’re buying for:

• Weddings or gifting – don’t wait too long. Prices may rise again due to festive demand.

• Investment purposes – you can consider buying in tranches (installments) or explore sovereign gold bonds for better returns and safety.

• Short-term trading – it’s better to watch global cues or consult a financial advisor.

Also, always compare rates across stores, ask for BIS hallmark, and ensure proper billing with GST breakdown.

How to Check Daily Gold Rates in India?

Here are a few trusted sources:

1. IBJA official website – Releases daily gold and silver rates.

2. Jeweller association boards in local markets.

3. Mobile apps or websites like Good Returns, Live Mint, or GoldPriceIndia.

4. Jewellers like Tanishq, Kalyan, Malabar, etc., also provide live rates on their sites.