Nifty 17101.95 (-0.05%)
Sensex 57200.23 (-0.13%)
Nifty Bank 37689.4 (-0.77%)
Nifty IT 33851.95 (1.13%)
Nifty Financial Services 17673.55 (-0.50%)
Adani Ports 710.15 (0.15%)
Asian Paints 3110.85 (-0.20%)
Axis Bank 764.70 (-1.18%)
B P C L 382.50 (0.08%)
Bajaj Auto 3497.20 (-0.11%)
Bajaj Finance 6867.25 (0.44%)
Bajaj Finserv 15198.75 (-1.05%)
Bharti Airtel 715.80 (1.21%)
Britannia Inds. 3509.65 (0.44%)
Cipla 932.25 (0.50%)
Coal India 161.65 (0.69%)
Divis Lab. 3940.70 (0.02%)
Dr Reddys Labs 4218.60 (-0.89%)
Eicher Motors 2610.95 (-1.24%)
Grasim Inds 1697.00 (0.59%)
H D F C 2516.50 (0.53%)
HCL Technologies 1080.45 (0.25%)
HDFC Bank 1463.25 (-0.79%)
HDFC Life Insur. 620.45 (-0.17%)
Hero Motocorp 2672.15 (-1.58%)
Hind. Unilever 2283.55 (-0.51%)
Hindalco Inds. 490.35 (0.25%)
I O C L 124.10 (1.14%)
ICICI Bank 781.15 (-1.70%)
IndusInd Bank 903.55 (1.74%)
Infosys 1686.20 (0.45%)
ITC 217.60 (1.40%)
JSW Steel 628.05 (0.31%)
Kotak Mah. Bank 1898.30 (0.48%)
Larsen & Toubro 1897.55 (-0.70%)
M & M 869.65 (1.35%)
Maruti Suzuki 8550.95 (-3.05%)
Nestle India 18384.40 (-0.01%)
NTPC 140.15 (3.81%)
O N G C 168.80 (1.87%)
Power Grid Corpn 210.20 (-2.16%)
Reliance Industr 2335.85 (-0.10%)
SBI Life Insuran 1205.55 (-0.50%)
Shree Cement 24124.70 (0.68%)
St Bk of India 523.45 (-1.04%)
Sun Pharma.Inds. 827.35 (1.88%)
Tata Consumer 717.90 (1.69%)
Tata Motors 497.30 (0.59%)
Tata Steel 1084.65 (-0.34%)
TCS 3690.05 (1.12%)
Tech Mahindra 1410.65 (-2.42%)
Titan Company 2315.60 (0.24%)
UltraTech Cem. 7109.85 (0.13%)
UPL 790.25 (2.37%)
Wipro 552.15 (1.36%)

Gold Price Today: 22-Carat and 24-Carat Gold Rate

Gold Price Today: 22-Carat and 24-Carat Gold Rate
Gold
by 5paisa Research Team 28/01/2022

Gold has been a valuable asset class from times immemorial. In India, gold has been one of the most preferred asset classes, with Indian households owning more than $1.30 trillion just in the form of domestic gold.

Types of Gold – Classified by Purity

One of the most popular classifications of gold is based on carats. Incidentally, carat measures the purity of gold and higher the carat value, higher is the purity of gold. Broadly, gold has 5 popular classifications based on purity, which is captured as under.
 

Particulars

24-Carat

22-Carat

18-Carat

14-Carat

10-Carat

Gold Purity

99.95%

91.67%

75.00%

58.33%

41.67%


Higher the purity, more malleable and softer will be the gold. Hence 24-carat gold is rarely used for jewellery as daily wear and tear will make it lose shape. The most popular for gold jewellery is 22-carat gold which has 91.67% purity. However, even 22-carat gold cannot hold diamonds and studded gems. Hence for jewellery with studded stones or diamonds, normally lower purity gold of 18-carat or 14-carat is used. Lower carat gold consists of a mix of gold with silver, nickel and zinc.

 

Trends in gold prices and gold rates

The most popular gold rate for trading and futures purposes is normally the 24-carat gold with higher purity. Hence, when we talk of gold price today in the case of financial markets it refers to 24-carat gold. Similarly, when we talk of gold rate today for gold jewellery, it refers to 22-carat gold, which is normally not traded in financial markets.
 

Date

Gold Purity

Price (1 gram)

Gold Purity

Price 1 Gram

Jan-28-22

22-Carat Gold

₹ 4,515

24-Carat Gold

₹ 4,925

Jan-27-22

22-Carat Gold

₹ 4,550

24-Carat Gold

₹ 4,964

Change (Rs.)

22-Carat Gold

₹ -35.00

24-Carat Gold

₹ -39.00

Change (%)

22-Carat Gold

-0.77%

24-Carat Gold

-0.79%

 

In gold, the opening price becomes the benchmark price. The gold price today for 24-carat gold and the gold rate today for 22-carat gold are indicative rates that are not inclusive of GST, applicable tax collection at source, making charges and other levies.

To get a trend perspective of gold prices, let us look at the gold prices over the last 10 Days and the daily trend of gold prices of 22-carat gold and 24-carat gold on a sequential basis.

Gold Price Today Vs Gold Price Yesterday
 

Date Gold Price (22 Carat) Gold Price (24 Carat) Sequential Trend
28-Jan-22 Rs.4,515 per gram Rs.4,925 per gram Up
27-Jan-22 Rs.4,550 per gram Rs.4,964 per gram Down
26-Jan-22 Rs.4,766 per gram Rs.4,966 per gram Same
25-Jan-22 Rs.4,766 per gram Rs.4,966 per gram Up
24-Jan-22 Rs.4,752 per gram Rs.4,952 per gram Down
23-Jan-22 Rs.4,760 per gram Rs.4,960 per gram Same
22-Jan-22 Rs.4,760 per gram Rs.4,960 per gram Same
21-Jan-22 Rs.4,760 per gram Rs.4,960 per gram Up
20-Jan-22 Rs.4,717 per gram Rs.4,917 per gram Up
19-Jan-22 Rs.4,709 per gram Rs.4,909 per gram -


Frequently asked questions (FAQ) on Gold Rates


1.  What factors affect the gold rate? 

A number of factor go into the pricing of gold Jewellery demand is one factor, but the most important factor is economic or geopolitical uncertainty. This leads to a spike in the price of gold as it is seen as a safe haven asset. Gold is inversely related to dollar and equities.

 

2.  Is gold rate today and silver rate the same?

Gold is more of a precious metal which is a safe haven asset class. Silver, is more of a commodity with extensive industrial application. However, an important factor in gold and silver pricing globally is the gold/silver ratio.

 

3.  What causes gold rate to drop?

Normally, gold rates fall when the dollar strengthens or when equities are robust. Similarly, when there is news of an increase in GDP, then gold prices drop. Gold prices can also drop if the ETF demand for gold goes down.

 

4.  Why does gold rate increase? 

The most common reason for an increase in gold rate is the rise in economic and geopolitical uncertainty. If you look at the past, gold rates have risen in times of the global financial crisis, during the COVID pandemic, during the Iran embargo etc.

 

5.  Which cities get affected by gold rate fluctuation? 

While gold is most actively traded in the Mumbai markets in terms of spot bullion and in terms of gold futures, the biggest demand for gold comes from Kerala state. This is the state that consumers maximum gold overall and obviously also on a per capita basis.

 

6.  Is it a good time to buy gold?

There is normally, not good time to buy gold. Investors must ideally look at gold allocation in the range of 10-15% of their overall asset allocation. This excludes your jewellery holdings. The holding can tweaked in the range based on gold prices.

 

7.  Is it good to invest in digital gold?

Digital gold is convenient in that it is held in electronic mode. Also, digital gold is backed by equivalent physical gold that is ring-fenced in a vault owned by a nodal government organization like MMTC. It is a new asset class, though brokers have been asked to desist from selling digital gold by SEBI.

 

8.  What is digital gold? 

Digital gold is held in electronic mode. Digital gold is backed by equivalent physical gold that is ring-fenced in a vault owned by a nodal government organization like MMTC. It is a new asset class and the big advantage is that you can buy and sell small fractions of gold.

 

9.  How does digital gold work?

Digital gold are electronic gold holdings created against physical gold. Such gold is certified by a globally reputed agency and backed by ring-fenced gold. Investors even fractional grams of gold and platforms like Paytm, Phone Pe and GPAY are popular platforms for digital gold.
 

About the Author

Open Demat Account

Enter Mobile Number
Enter correct otp
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
SENSEX
57,200.23
-76.71 (-0.13%)
Nifty 50
17,101.95
-8.20 (-0.05%)
Nifty Bank
37,689.40
-292.70 (-0.77%)
Next Article

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number

Stocks Directory

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All 0-9