Gold Price In India

The quick and easy way to arrive at the tax exclusive estimate 24k rate is to check out the current gold future's contract on MCX. This is the estimated rate for 99.5% purity 10 gms of gold. The 24k rate is achieved by dividing this rate by 0.995 to arrive at the tax exclusive 24k gold rate for 10gms. For 1gm, simply divide this by 10. Please bear in mind that depending on the physical market's demand-supply dynamics, the actual market rate will vary region to region, but still the exchange's rate is the most transparent estimate.

Once we have the 24k Gold price, we simply multiply it by 22/24 or 0.9166 to get the 22k Gold Price!.

Example, if the mcx current contract is trading at 50800, then the 24k price without GST per gram is approximately 5080/.995 = Rs 5105 per gram. The 22k gold price is 0.9166 x 5105 = Rs 4679/gm.

 Please note that this price is inclusive of import duty and other levies. For international customers, it is important to be informed that they are not liable to pay this import duty inclusive rate and NOR the GST as they pay the duty and taxes in their own countries upon import. An Indian seller can get reimbursed for the duty and GST lost through export.