Gold Prices In Mumbai Vs Gold In Delhi On January 2: 24K, 22K, 18K Expensive In Which City? Check Latest Rates

Gold prices in India extended their rally on Thursday, January 2, 2025. The gold prices in major metro cities like Delhi and Mumbai are up accordingly. However, 24K, 22K, and 18K yellow metal is more expensive in the national capital of India, then in the financial hub. The 10-gram gold is nearing the Rs 78,500 level in 24K. Lacklustre sentiment in the market for New Year celebrations, coupled with uncertainties surrounding the policies and measures of Donald Trump 2.0 is one of the key factors boosting gold prices.

Gold Prices In Delhi:

Gold prices in Delhi surged by Rs 3,300 to Rs 7,84,800 in 100 grams for 24K, while prices for the same climbed by Rs 3,000 to Rs 7,19,500 in 22K and up by Rs 2,500 to Rs 5,88, 700 in 18K. Furthermore, 10 grams of gold is up by Rs 330 to Rs 78,480 in 24K, higher by Rs 300 to Rs 71,950 in 22K, and up by Rs 250 to Rs 58,870 in 18K.

The cheapest gold prices in Delhi are Rs 7,195 per gram for 22-karat gold, Rs 7,848 for 24-karat gold (also called 999 gold), and Rs 5,887 per gram for 18K.

Gold rates in Delhi are always different from those of others. There are numerous reasons for these: 1) The octroi charges differ with Delhi and other cities which alters the gold prices. 2) Numerous state taxes can also change the gold rates in the city. 3) The transportation costs in the city also tend to alter the gold rates there. 4) Other costs like making charges may also differ.

Gold Prices In Mumbai:

Gold prices in the financial hub are at Rs 7,83,300 in 100 grams for 24K which is higher by Rs 3,300, while gold prices surged by Rs 3,000 to Rs 7,18,000 in 22K and up by Rs 2,500 to Rs 5,87,500 in 18K.

Furthermore, gold prices advanced by Rs 330 to Rs 78,330 in 24K, up by Rs 300 to Rs 71,800 in 22K, and higher by Rs 250 to Rs 58,750 in 18K for 10 grams.

The cheapest gold rates in Mumbai are Rs 7,180 per gram for 22-karat gold, Rs 7,833 per gram for 24-karat gold (also called 999 gold), and Rs 5,875 per 1 gram for 18k.

Gold rates in Mumbai are influenced by a number of factors. Such as --- a) Fixed by the Indian Bullion Jewellers Association:

- The Indian Bullion Jewelers Association fixes the prices based on a number of things that are as follows:

1) The rates that are fixed by some of the biggest dealers in the city.

2) The local import duty is added to the import items in the country.

3) Some dealers arrive at the price based on some formula that is arrived by in the futures market of the MCX. The MCX is the largest commodity exchange in the country and gold futures are traded on this exchange. This is how the price changes of gold in Mumbai and the manner in which it is fixed. It is extremely important to check the prices of gold before buying them in India. This would ensure that you have got the right prices at which to import gold in India. One can also watch for international cues before buying gold in any o the cities, towns or villages of India. Check with your local jeweller before buying the precious metal. There is no good or bad time to buy gold, it is just that the price has to be right.

Silver Prices In Delhi Vs Silver Prices In Mumbai:

Currently, silver prices is flat in Delhi to Rs 90,500 per 1kg and at Rs 9,050 per 100 grams on January 2, which is similar to the prices in Mumbai.

MCX Gold, Silver Prices:

MCX gold prices with February 2025 expiry is at Rs 77,020 per 10 grams, up by Rs 127 or 0.2% which was near the intraday high of Rs 77,074 per 10 grams. Meanwhile, MCX silver prices with March 2025 expiry, is at Rs 88,460 per 1 kg, rising by Rs 882 or 1.01%, also near its intraday high of Rs 88,649 per 1kg.