As of January 1st, 2026, there has been a substantial increase in gold prices in India as compared to past years due to changing patterns in the international economy as well as high domestic demand
.1The following is a list of current gold prices and patterns associated with gold in India.Current Gold Prices as of January 1st, 2026The gold prices tend to be slightly variable based on cities and include local taxes such as "octroi" charges as well as margins charged by gold jewelers.
Current Gold Rates (January 1, 2026)
Prices vary slightly by city due to local taxes (like octroi) and jeweler margins, but the national averages are as follows:
The following are average prices in India:
| Purity | Price per 1 Gram | Price per 10 Grams |
| 24K (99.9% Pure) | ₹13,506 | ₹1,35,060 |
| 22K (91.6% Pure) | ₹12,380 | ₹1,23,800 |
| 18K (75.0% Pure) | ₹10,129 | ₹1,01,290 |
Note: The prices are generally not inclusive of 3% GST and "making charges."
Variances in Gold Prices Within Indian Cities Major Indian cities tend to have slight variations in gold prices.
Current prices as of today:
City-wise Price Variations
Major metropolitan areas often see slight differences in rates. As of today:
Delhi: ₹1,35,210 (24K / 10g) — Slightly higher due to transportation and local demand.
Mumbai: ₹1,35,060 (24K / 10g) — Often considered the base rate for India.
Chennai: ₹1,36,140 (24K / 10g) — Traditionally higher due to massive local consumption.
Kolkata: ₹1,35,060 (24K / 10g).
Why are the prices so high in 2026?
If you have been following gold, you will notice it has almost doubled in price over the past couple of years. There are a number of things that are at play here:
International Geopolitics: Instabilities within the Middle Eastern and Eastern European parts of the world have made gold investments into the "safe-haven" category for many investors.
Central Bank Buying: The Reserve Bank of India and other central banks have been actively accumulating gold holdings, trying to diversify holdings away from the US Dollar.
Currency Fluctuations: A weaker Indian Rupee relative to the Dollar means that gold imports become more costly, thus contributing to higher local gold prices.
Inflation Hedge
Investors are increasingly turning to gold as the world's debt continues to increase.
Future Outlook
The Market experts, including those at Goldman Sachs and Kotak Securities, are still optimistic for the year 2026. There are some forecasts that recommend that gold can touch the levels of ₹1.5 to ₹1.75 lakhs for 10 grams by the end of the year, provided that the current economic conditions (such as the cutting of interest rates by the US Fed) continue.
The Vault of Time holds more than the rise and fall of numbers; it holds the beat of a nation’s economic and cultural pulse. In India, gold isn’t a commodity, it is a testament to history—it is a family heirloom that speaks not of a proud or illustrious past but a past of struggle and strife, a past that began with a beginning at a small ₹63 in the prices of the 1960s and culminated in today’s prices that appear almost_otherworldly. More than a balance sheet with prices inscribed in it, this is a chronology of a "safe haven" that began with wood chests in our ancestors’ houses and now lies in today’s advanced computerized vaults of the "safe haven." How we turn these pages of gold history reveals a testament not of devotion but an unwavering belief that began with a yellow metal, a metal that would not only last longer than currencies in a world of turmoil but forever soothe with a radiance that lasts longer than life itself.
Historical Price Timeline (10 Grams / 24K)
This table highlights the massive jumps gold has taken over the decades:
| Year | Approx. Price (₹) | Key Events / Drivers |
| 1964 | ₹63 | Pre-liberalization era; stable but restricted market. |
| 1974 | ₹506 | Impact of global oil crisis and rising inflation. |
| 1980 | ₹1,330 | Global geopolitical tensions (Cold War, Iran-Iraq war). |
| 1990 | ₹3,200 | Economic crisis in India leading to liberalization in 1991. |
| 2000 | ₹4,400 | The IT boom era; gold remained relatively stable. |
| 2010 | ₹18,500 | Aftermath of the 2008 global financial crisis. |
| 2020 | ₹48,651 | COVID-19 Pandemic: Massive surge as a "safe haven." |
| 2024 | ₹75,000 | Russia-Ukraine war and record central bank buying. |
| 2026 | ₹1,35,060 | Current All-Time Highs due to global uncertainty. |
Major Growth Periods
1. The Stable Decades (1950s–1970s)
It was during this time that most of the gold was in the hands of the government via the Gold Control Act of 1968, seeking to avoid private retention. Prices were low, but so was the legal availability.
2. The Liberalization Surge (1990s–2010)
Opening of the Indian economy in 1991 made the importation of gold easier. But the consistent devaluation of the Indian Rupee against the US Dollar started making gold costlier as India is the biggest importer of the yellow metal in the world.
3. The Crisis Era (2020–Present)
The steep climb of the last 5–6 years has been unprecedented in history. The pandemic effect: Between 2019 and 2021, gold jumped nearly 40% as investors fled collapsing stock markets. Central Bank Accumulation: From 2024 onward into 2025, the RBI and other central banks began to accumulate gold in their vaults as they sought to decrease dependence on the Dollar, driving up prices into the "lakhs" category.
Performance Summary
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If we had invested ₹1 lakh in gold in the year 2000, it would be worth around ₹30.7 lakh today. This corresponds to a Compounded Annual Growth Rate of around 14.3% over a period of 25 years, which has beaten most traditional savings instruments as well as the equity market.
Major Growth Periods
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