Gold Rate Today in India decreases by Rs.160 for 24 Carat and 22 Carat as of July 18, 2022.
Today gold rate (as of 18th June 2022) for 24 Carat and 22 Carat is
|For 24 carat gold (10 grams)||Rs 50,400|
|For 22 carat gold (10 grams)||Rs 46,170|
Variations in gold rates can be seen in major cities of India in the last 24 hours.
City-wise Gold Rate Today
|Cities||10 gram Gold Rate For 24-carat Gold (in INR)||10 gram Gold Rate For 24-carat Gold (in INR)|
|Gold rate in Chennai||₹52,285||₹47,927|
|Gold rate in Delhi||₹50,730||₹46,500|
|Gold rate in Kolkata||₹50,730||₹46,500|
|Gold rate in Mumbai||₹50,730||₹46,500|
|Gold rate in Bhubaneswar||₹50,390||₹46,190|
|Gold rate in Lucknow||₹50,550||₹46,340|
|Gold rate in Pune||₹50,470||₹46,270|
|Gold rate in Chandigarh||₹50,550||₹46,370|
Why invest in gold?
Investing in gold acts as a cushion against inflation. That is why investors consider investing in gold an important investment.
Gold rate in India
Which bank is best for a gold loan?
The gold loan interest rates availed by pledging gold, are slightly lower than other types of loans and range between 7.35% to 29% p.a. Banks and other financial institutions in India offer gold loans with loan amounts ranging from 1500 rupees to 1.5 million rupees. The tenure for repayment of these gold loans is from 7 days to 240 months.
|Interest Rate||7.35% p.a. onwards|
|Loan Amount||₹1500 Up to ₹1 crore|
|Loan Tenure||Up to 20 years|
|Processing Fee||0.5% the loan amount + GST onwards|
Gold Loan Interest Rates Comparison 2022
|Name of the Bank||Interest Rate||Loan Amount|
|Axis Bank Gold Loan||13.50% p.a.to 16.95% p.a.||Rs.25,001 to Rs.25 lakh|
|HDFC Gold Loan||11% p.a. to 16% p.a.||Rs.10,000 onwards|
|Canara Bank Gold Loan||7.35% p.a.||Rs.5,000 to Rs.35 lakh|
|Muthoot Gold Loan||12% p.a. to 26% p.a.||Rs.1,500 onwards|
|SBI Gold Loan||7.00% p.a. onwards||Rs.20,000 to Rs.50 lakh|
|Kotak Mahindra Gold Loan||10.00% p.a. – 17.00% p.a.||Rs.20,000 to Rs.1.5 crore|
|IndusInd Bank Gold Loan||11.50% p.a. – 16.00% p.a.||Up to Rs.10 lakh|
|Manappuram Gold Loan||Up to 29%||As per the requirement of the scheme|
|Bank of Maharashtra Gold Loan||7.10% p.a.||Up to Rs.20 lakh|
|PNB Gold Loan||7.70% p.a. to 8.75% p.a.||Rs.25,000 to Rs.10 lakh|
|Bank of Baroda Gold Loan||9.00% p.a. – 9.15% p.a.||Up to Rs.25 lakh|
The United States of America holds the largest gold reserve with a substantial reserve of more than 8,100 tons. The US government has almost as many reserves as the next three largest gold-producing countries combined (Germany, Italy and France).
Here are different ways for investing in gold.
Physical gold, Gold ETFs and Gold Bonds.