Gold Today Rate, 22 May: Check 18, 22 and 24 carat gold prices Chennai, Mumbai, Delhi, Kolkata and other cities
Current Gold Prices in Major Indian Cities
Gold prices vary slightly across Indian cities due to factors such as local taxes, transportation costs, and regional demand. Here’s the latest update on the price of gold per gram in some of the key markets:
| City | 24K Gold (₹/gm) | 22K Gold (₹/gm) | 18K Gold (₹/gm) |
|---|---|---|---|
| Chennai | ₹9,790 | ₹8,975 | ₹7,344 |
| Mumbai | ₹9,791 | ₹8,975 | ₹7,344 |
| Delhi | ₹9,808 | ₹8,992 | ₹7,203 |
| Kolkata | ₹9,808 | ₹8,992 | ₹7,203 |
Prices are indicative and may differ slightly based on local factors.
Understanding Gold Purity: 18K, 22K, and 24K
Before diving deeper into the price trends, it’s essential to understand what these different carat values mean:
- 24 Carat Gold: This is pure gold (99.9%) with no alloys. It is soft and mostly used for investment purposes such as bullion bars or coins.
- 22 Carat Gold: Contains 91.6% gold mixed with other metals to improve durability. This is the most common purity level used in Indian jewelry.
- 18 Carat Gold: Contains 75% gold, mixed with other metals. It is harder and more durable, popular for modern and fashion jewelry.
Because purity affects value directly, 24K gold is the most expensive, followed by 22K and 18K.
Price Trends and Influencing Factors
Global Gold Market Impact
International gold prices heavily influence domestic rates. Several factors impact global gold prices, including:
- US Dollar Strength: Gold usually moves inversely to the US dollar. A weaker dollar makes gold cheaper for holders of other currencies, pushing demand and prices higher.
- Geopolitical Uncertainty: Conflicts, trade tensions, or economic crises boost demand for safe-haven assets like gold.
- Interest Rates and Inflation: Lower interest rates and higher inflation generally increase gold’s appeal as a hedge.
In recent weeks leading up to 22 May, global gold prices saw upward momentum due to persistent inflation concerns in major economies and geopolitical tensions in key regions.
Domestic Demand and Seasonal Influence
In India, gold demand spikes during festivals such as Akshaya Tritiya, Diwali, and wedding seasons. As May approaches wedding season preparations, demand tends to rise, pushing prices upwards.
Additionally, regional festivals and auspicious days in cities like Chennai and Mumbai further boost local demand.
Government Policies and Taxes
Import duties and GST rates on gold affect pricing. Currently, the Indian government imposes:
- 10% import duty on gold, which increases the landed cost.
- 3% GST on gold jewelry, which is factored into retail prices.
Changes or rumors about tax policies can create short-term price volatility.
City-Wise Gold Price Analysis
Chennai
Chennai’s gold market is vibrant, driven by deep-rooted cultural affinity for gold in Tamil Nadu. Jewelry purchases surge around weddings and religious festivals, influencing local prices. Today, 24K gold in Chennai trades at approximately ₹9,790 per gram, reflecting a slight rise from the previous week as demand picks up.
Mumbai
Mumbai, the financial hub of India, sees gold prices that closely track international trends. The city’s dynamic market often responds swiftly to global cues. The current 24K gold rate stands at ₹9,791 per gram. Mumbai’s high transaction volumes and multiple dealers ensure competitive pricing, attracting buyers nationwide.
Delhi
Delhi, the capital city, commands marginally higher prices due to increased demand and premium local taxes. Today, 24K gold is priced around ₹9,808 per gram. The city’s rich wedding and festive calendar also support strong gold consumption throughout the year.
Kolkata
Kolkata’s gold prices mirror the national average, with 24K gold at ₹9,808 per gram. The region’s demand peaks during Durga Puja and wedding seasons. Local jewelers compete by offering competitive prices and hallmark certifications, assuring buyers of purity.
How to Buy Gold Smartly
Gold remains a favored investment in India, but buyers should stay informed to maximize returns and avoid pitfalls:
- Check Purity and Hallmarking: Always purchase hallmarked gold certified by agencies like BIS to ensure authenticity.
- Compare Prices Across Cities: If possible, compare rates online and offline to get the best deal.
- Consider Long-Term Trends: Avoid panic buying during price spikes; instead, plan purchases based on long-term demand and price movements.
- Explore Alternative Gold Investments: Apart from physical gold, consider Sovereign Gold Bonds (SGBs), Gold ETFs, or digital gold platforms for diversification and better liquidity.
- Monitor International Gold Prices: Since domestic prices follow global trends, keeping an eye on the international market helps in timing purchases.
Gold as an Investment and Cultural Asset
Gold holds a dual role in Indian society: as a secure investment and a symbol of wealth and prosperity. It often acts as a hedge during economic uncertainty, protecting investors against inflation and currency depreciation.
Culturally, gifting gold during weddings, births, and festivals is a tradition that fuels continuous demand, keeping the market robust year-round.
Conclusion
On 22 May 2025, gold prices across India have shown a steady upward trend, influenced by global economic dynamics, domestic demand patterns, and government policies. Whether you are a jeweler, investor, or a first-time buyer, understanding city-specific price differences and the factors driving them is essential.
For those planning to buy, it’s wise to stay updated on daily rates, check purity certifications, and consider both physical and alternative gold investment options. With gold’s enduring value, informed decisions will ensure that your investment or purchase brings both joy and financial security.
