Which City Offers the Cheapest Price for Gold in India?
Gold prices vary from city to city in India. India does not mine a lot of gold and most of it is imported. Banks such as ICICI Bank, State Bank of India, HDFC Bank, and Yes bank import gold.
Entities like MMTC and STC import gold at international rates. As a result, if international gold rates increase, Gold prices in India rise as well.
In India, the prices for gold differ from one state to another due to various reasons. Some of them are local levies and taxes due to which prices for 22 Carat and 24 karat gold are different in every city. In addition, the prices are set by the local bullion association and as a result, prices differ. Gold prices are changed twice daily and typically mirror the movement in global markets.
Which City or State is the Cheapest for Buying Gold in India
At present, the price of gold is at the lowest in Kerala. Similarly, the prices are reasonable in Karnataka when compared to Delhi and Mumbai. Gold prices in various southern cities are significantly lower than in the north and west.
Given below are the gold prices in some of the top Indian cities:
Gold Price in Major City | Price (22 karat) |
Gold Price in Delhi | Rs.67,200 |
Gold Price in Mumbai | Rs.67,500 |
Gold Price in Bangalore | Rs.67,730 |
Gold Price in Chennai | Rs.67,420 |
Gold Price in Kerala | Rs.67,950 |
Gold Price in Kolkata | Rs.67,810 |
Gold Price in Hyderabad | Rs.67,420 |
Gold Price in Ahmedabad | Rs.67,310 |
From the table above, you can see that gold rates are the lowest in Kerala. This makes it the ideal state to purchase gold. However, before making a purchase, you should consult a gold jeweller. In the past year, the price of gold has risen substantially. Therefore, if you want to invest in gold, make sure to purchase it at the lowest possible price.
Read More on Gold
Gold as an Investment
- GST on Gold
- Gold And Devaluation
- Gold Price Valuation In India
- Why Is Gold Rate Fluctuating
- Why Investing In Gold Is A Golden Opportunity
- How Gold Rate Fluctuation Affects Indian Economy
- Top 8 Reasons to Invest in Gold
- How Does Gold Investment Affect Indian Economy?
- How Will Restricting Gold Imports in India Affect Gold Rates?
- Top 5 Factors That Affect Gold Rate In India
- Why Gold Prices Are Up
- Companies that Purchase Your Old Gold for Cash
FAQs on Cheapest Gold price in India
- Are the gold prices the same all over India?
No. The price of gold varies from one state to another.
- Which state offers the cheapest price for gold in India?
At present, gold prices are the lowest in Kerala.
- What are the factors that affect the gold prices in India?
In India, gold prices are affected by various factors like demand, taxes, inflation, interest rates, government policies, etc.
- Do I have to pay any GST on gold?
Yes. You have to pay a GST of 3% on gold.
- What are the different ways to invest in gold?
The different gold investment options are gold jewellery, digital gold, gold ETFs, gold mutual funds, etc.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.