Gold prices in India moved higher today, with both 22-carat and 24-carat gold registering gains across major cities. The increase was reflected in both 1-gram and 8-gram gold rates, making gold costlier compared to the previous trading session.
Gold Rate in India Today
The average gold price in India today stood at ₹13,775 per gram for 22-carat gold, up by ₹265, while the price for 8 grams of 22-carat gold increased by ₹2,120 to ₹1,10,200.
Gold Rate Today in Mumbai
In Mumbai, 22-carat gold was priced at ₹13,775 per gram, up by ₹265, while 8 grams cost ₹1,10,200, an increase of ₹2,120.
Meanwhile, 24-carat gold was available at ₹14,464 per gram, up by ₹275, and 8 grams were priced at ₹1,15,712, reflecting a rise of ₹2,224.
Gold Rate Today in Chennai
In Chennai, the price of 22-carat gold stood at ₹13,450 per gram, up by ₹270, while 8 grams were priced at ₹1,10,000, increasing by ₹2,160.
The price of 24-carat gold reached ₹14,438 per gram, up by ₹284, with 8 grams costing ₹1,15,504, up by ₹2,272.
Gold Rate Today in Hyderabad
In Hyderabad, 22-carat gold was trading at ₹13,750 per gram, an increase of ₹270, while 8 grams were priced at ₹1,10,000, up by ₹2,160.
24-carat gold was quoted at ₹14,438 per gram, rising by ₹284, and 8 grams were priced at ₹1,15,504, up by ₹2,272.
Gold Rate Today in Delhi
In the national capital, Delhi, 22-carat gold was priced at ₹13,825 per gram, up by ₹265, while 8 grams cost ₹1,10,600, registering an increase of ₹680.
The price of 24-carat gold stood at ₹14,516 per gram, rising by ₹278, while 8 grams were priced at ₹1,16,128, up by ₹2,224.
Gold Rate Today in Ahmedabad
In Ahmedabad, 22-carat gold was available at ₹13,829 per gram, up by ₹265, with 8 grams priced at ₹1,07,792, an increase of ₹680.
24-carat gold was trading at ₹14,520 per gram, up by ₹278, while 8 grams were priced at ₹1,16,160, increasing by ₹2,224.
Gold Rate Today in Bengaluru
In Bengaluru, the price of 22-carat gold stood at ₹13,835 per gram, rising by ₹278, while 8 grams cost ₹1,16,216, up by ₹2,210.
24-carat gold was priced at ₹14,525 per gram, up by ₹278, and 8 grams were available at ₹1,13,232, reflecting an increase of ₹2,224.
Gold Rate Today in Kolkata
In Kolkata, 22-carat gold was priced at ₹13,875 per gram, up by ₹265, while 8 grams were available for ₹1,11,000, an increase of ₹2,120.
24-carat gold was trading at ₹14,569 per gram, rising by ₹278, and 8 grams were priced at ₹1,16,552, up by ₹2,224.
Gold Price Trend
Gold prices have continued their upward trend across the country, with gains recorded in every major city. While rates vary slightly from one location to another, the overall market sentiment remains positive.
Buyers should note that the final purchase price may differ due to GST, making charges, and jeweller-specific premiums.
Source: Gold rates courtesy of BankBazaar.
Gold may relaunch Gold Monetization Scheme
The central government is likely to introduce a new version of the Gold Monetisation Scheme within the next two weeks, according to media reports.
The updated scheme could make it easier for people to deposit their gold and earn interest, while also helping reduce India’s dependence on gold imports.
One of the biggest changes could be that jewellers, along with banks, may be allowed to collect gold from the public.
Deposit Gold Through Jewellers
Under the proposed scheme, people may be able to deposit their gold with authorised jewellers, just as they use bank lockers. In return, they could earn an annual interest of up to 2.5% on the deposited gold.
Earlier, only banks were allowed to accept gold deposits. By including bullion traders and jewellers as collection partners, the government hopes to make the process more convenient and encourage more people to participate.
This move comes after Prime Minister Narendra Modi urged people to avoid buying gold for one year to help reduce imports.
Government Targets Over 1,000 Tonnes of Gold
The All India Jewellers and Goldsmiths Federation (AIJGF) believes that involving jewellers will significantly increase gold collection from households.
According to estimates, the government could collect more than 1,000 tonnes of gold under the new framework.
Reports also suggest that if just 5% of the gold held by Indian families is deposited, it could bring nearly $90 billion (around ₹8.57 lakh crore) into the economy.
This could reduce the need for gold imports for up to two years, lower demand for US dollars, and strengthen the Indian rupee.
India Holds Massive Gold Reserves
According to ASSOCHAM, Indian homes and temples together hold nearly 50,000 tonnes of gold, valued at around $10 trillion (about ₹830 lakh crore).
This is larger than the combined gold reserves of the world’s 10 biggest central banks. India’s private gold holdings are also bigger than the annual GDP of almost every country except the United States and China.
India is also the world’s second-largest gold consumer. During FY2026, the country imported an average of 60 tonnes of gold every month, worth nearly $6 billion (around ₹57,000 crore).
Why the Earlier Gold Scheme Didn’t Work
The original Gold Monetisation Scheme was launched in 2015 to reduce gold imports. People could deposit their gold with banks and earn annual interest between 2.25% and 2.5%.
However, the response was very poor.
Although Indian households were estimated to own around 25,000 tonnes of gold, only 38 tonnes were deposited under the scheme over a period of 10 years.
Due to low participation, the government later discontinued the medium and long-term deposit options.
Four Reasons Behind the Failure
Experts, including Bhavik Patel of Tradebulls Securities, have pointed out the main reasons why the earlier scheme failed:
High cost for the government: The government had to pay annual interest and also bear the impact of rising gold prices at maturity, leading to financial losses.
Emotional value of jewellery: Many families were unwilling to melt ancestral or traditional jewellery because of its sentimental, religious, and cultural importance.
Fear of tax scrutiny: People worried that depositing old gold could lead to questions about ownership, bills, or tax investigations.
Lack of interest from banks: Banks earned very little from the scheme, so they had little motivation to promote it or encourage customers to participate.
