Gold Price Today: Gold became cheaper on the first day of the week, prices slipped in many cities; 22 carat (10 grams) came at ₹ 1,42,990 in Delhi

On the first day of the trading week, the shine of gold was seen fading a bit in the domestic and international bullion markets. In the global commodity markets, limited profit booking was recorded by investors due to the strength of US bond yields and pressure on the dollar index. Its direct impact was also seen in the Indian retail market, where the prices of the yellow metal remained sluggish in major metros. In the national capital Delhi, the price of 22 carat gold has slipped to ₹ 1,42,990 per 10 grams, while 24 carat pure gold is trading around ₹ 1,55,980 per 10 grams.

In the Indian bullion market, there is slight variation in gold prices in different cities due to local taxes, octroi and transportation costs. The latest gold rates per 10 grams in major cities on the first day of the week were recorded as follows:

Many global and domestic factors are believed to be responsible for this softening on the first day of the week:

• Rise in US Treasury yields: US 10-year bond yields remaining strong pushes up the cost of holding non-interest-bearing assets such as gold internationally. Institutional investors avoided aggressive buying at higher levels and booked profits.

• Dollar index pressure: The strengthening of the dollar against other major global currencies makes imported gold slightly costlier for buyers in other countries, impacting immediate demand.

• Stagnation in domestic demand: Retail buyers often wait for further correction in prices just ahead of the festive season shopping, due to which volumes have remained normal in the local bullion markets.

It is important for customers to understand that the price of gold quoted in the market is the ‘base price’. When you buy ready-made jewelery from a jeweler’s shop, the final billing amount is more than the base rate:

• Making Charges: Jewelers add making charges ranging from 10% to 18% depending on the design and workmanship.

• Goods and Services Tax (GST): GST is imposed at the rate of 3% by the Government of India on the total jewelery value (base price of gold + making charges).

• Hallmarking Fee: A nominal fee of ₹35 to ₹45 per jewelery is payable separately for BIS hallmarking certification.

While purchasing gold, always choose hallmarked jewellery. The standard of 91.6% purity applies to 22 carat gold, on which it is mandatory to bear the 6 digit alphanumeric HUID (Hallmark Unique Identification) code of the Bureau of Indian Standards (BIS). Consumers can check the purity of gold and authenticity of jeweler’s registration directly on their mobile by entering this HUID code through ‘BIS Care App’.