Gold prices in India are once again approaching record highs, with 24K gold trading close to ₹1.3 lakh per 10 grams. On the Multi Commodity Exchange of India (MCX), gold futures also touched a new peak above ₹1.27 lakh per 10 grams on Wednesday, tracking the surge in international bullion prices driven by renewed US-China trade tensions and expectations of further rate cuts by the US Federal Reserve.
In the global market, bullion climbed to $4,179.79 per ounce.
In the domestic market, all gold categories recorded fresh highs on Wednesday.
Latest Gold Prices (as of 12:40 pm IST, October 15, 2025)
- 24-Karat: ₹127,430 per 10g
- 22-Karat: ₹116,811 per 10g
- 18-Karat: ₹95,573 per 10g
The surge in yellow metal is approximately 65% this year (2025), making it the standout performer in the commodity market.
Gold’s rally continues to be fueled by consistent central bank purchases, growing ETF inflows, and the Federal Reserve’s policy easing. Additionally, recurring geopolitical tensions, questions about the Fed’s independence, and a partial US government shutdown have boosted gold’s safe-haven demand.
Gold holds a deep cultural importance in India, representing prosperity and financial security. Several cities across the country are renowned for their trusted jewellers, skilled artisans, and a wide range of authentic gold jewellery available at competitive prices.
From the heritage-filled lanes of Jaipur and Kolkata to the bustling markets of Chennai and Mumbai, each city showcases unique craftsmanship blending traditional and modern styles.
On October 15, 2025, Chennai recorded the highest gold price among Indian cities, with 24-carat gold priced at ₹12,938 per gram. Meanwhile, Patna offered the lowest rate at ₹12,874 per gram, while Mumbai, Kolkata, Bangalore, and Hyderabad stood slightly higher at ₹12,889 per gram.
Top 5 Cities with the Cheapest Gold Price:
| City | 24K Gold (₹/gm) | 22K Gold (₹/gm) | 18K Gold (₹/gm) |
| Patna | 12,874 | 11,820 | 9,702 |
| Mumbai | 12,889 | 11,815 | 9,697 |
| Kolkata | 12,889 | 11,815 | 9,697 |
| Bangalore | 12,889 | 11,815 | 9,697 |
| Hyderabad | 12,889 | 11,815 | 9,697 |
Top 5 Cities with the Highest Gold Price:
| City | 24K Gold (₹/gm) | 22K Gold (₹/gm) | 18K Gold (₹/gm) |
| Chennai | 12,938 | 11,860 | 9,800 |
| Coimbatore | 12,938 | 11,860 | 9,800 |
| Madurai | 12,938 | 11,860 | 9,800 |
| Salem | 12,938 | 11,860 | 9,800 |
| Trichy | 12,938 | 11,860 | 9,800 |
The gap between the highest and lowest city prices is about ₹64 per gram, a normal variation due to factors such as local taxes, transportation costs, and demand-supply conditions. Chennai’s higher prices often reflect strong retail demand and a busy jewellery trade ahead of the Diwali season.
Why Gold Prices Differ Across Indian Cities
Gold prices vary slightly from city to city depending on factors like local import duties, transportation charges, and state-level taxes. Proximity to ports such as Mumbai and Chennai also affects logistics costs. Consumer demand patterns during festivals and weddings further influence city-level rates.
Though differences remain marginal, Chennai frequently ranks higher due to strong cultural demand and the city’s status as a major jewellery hub. Conversely, financial centres like Mumbai and trade-heavy markets like Kolkata often witness competitive pricing due to higher trade volumes.
Also Read : Investing in Gold stocks in India
Gold Investment Options
Gold continues to serve as a preferred hedge against inflation. Investors in India can choose from several gold investment options such as:
- Physical Gold: Jewellery, coins, or bars
- Digital Gold: Online platforms offering fractional ownership
- Gold ETFs and Mutual Funds: Market-linked instruments tracking gold prices
Goods and Services Tax (GST) applies to gold purchases across India. 3% GST is applied to the value of the gold itself, regardless of whether it is in the form of jewelry, coins, or bars. 5% GST is charged separately on the making charges for gold jewelry.
