Gold price today in India: how the 24K rate is worked out

What problem does the gold and silver price page solve?

Search for today's gold rate and you get a dozen numbers that disagree by a few thousand rupees per 10 grams, with no workings. The gold and silver price page shows its workings: an international spot price, converted to rupees, with India's import duty and GST applied on top, and the spot figure printed underneath so you can see what was added. This post walks through the page and redoes its arithmetic on the close of Thursday 15 October 2026.

Step 1: read the three cards

The page opens with three cards: "Gold (24K)" and "Gold (22K)", both per 10 grams, and "Silver" per kg. Each card shows:

• the large figure, which is the India estimate with duty and GST included;
• the day's percentage move, coloured up or down;
• a smaller line marked "international spot", the same rate before duty and GST.

The badge at the top says when the rates were last updated. The live rate is re-fetched when it is more than two minutes old during NSE market hours, and 30 minutes old outside them, and it is the same feed the Market Pulse ticker in the Terminal uses.

Step 2: how the India figure is built

The note under the cards states the rule. The page takes the COMEX gold or silver price in dollars per troy ounce, converts it at the current USD/INR rate, and divides by 31.1035 grams to the ounce. That gives the international spot price in rupees per gram. It then applies import duty of 15%, in force since 13 May 2026, and GST of 3% on the duty-paid value. So the India figure is the spot figure × 1.15 × 1.03, or about 18.45% more. For 22K it takes 22/24 of the 24K value.

The duty rate has changed more than once in the past two years, which is why the page shows the spot figure alongside rather than folding everything into one number. If the rate moves again, the gap between the two lines is the part to check.

Worked example: the 15 October 2026 close

The page's history series recorded spot gold at ₹12,819.52 a gram and spot silver at ₹176.10 a gram on 15 October 2026. Running them through the same functions the page uses:

The cards during the day will show slightly different figures, because they use the live rate rather than the close. The arithmetic is the same.

Step 3: use the weight tables

"Gold price by weight (24K, incl. duty & GST)" scales the per-gram India figure to 1 gram, 8 grams, 10 grams and 100 grams. Eight grams is there because it is one sovereign, a unit still used for gold in South India. "Silver price by weight (incl. duty & GST)" shows 1 gram, 10 grams, 100 grams and 1 kilogram. On the 15 October close:

Step 4: read the trend charts

"Gold price trend & returns" and "Silver price trend & returns" chart rupees per gram back to August 2000, with the range buttons a fund page has: 1W, 1M, 6M, YTD, 1Y (the default), 3Y, 5Y, 10Y and Max. The headline over the chart gives the return for the range, as an absolute figure under a year and CAGR from a year up.

These charts use the international spot price, before duty and GST. Multiplying 26 years of history by today's 15% duty would draw levels that never existed. The shape of the line is the same either way.

On the chart ending 15 October 2026, the 1Y range showed gold up 6.89% and silver up 20.8%, and the 10Y range showed gold compounding at 16.89% a year. The "vs Nifty 50 TRI" and "vs Sensex (price)" buttons redraw the chart as growth of 100 against an equity index. Gold vs the Nifty 50 over ten years does that comparison in detail, and gold in rupees vs gold in dollars explains how much of gold's rupee return came from the currency.

What the page does not tell you

• What a jeweller will charge. Making charges and any wastage are excluded, and they vary by shop and city.
• City rates or purities other than 24K and 22K. There is one national estimate, and no 18K figure.
• A price you can deal at. The figure is directional. Banks, bullion dealers and jewellers all quote their own spreads.
• Which way to own gold. Physical gold, gold ETFs and gold funds carry different costs and tax. SGB vs gold ETF vs physical gold compares them, the gold funds and ETFs guide covers the fund route, and the SGB vs gold ETF calculator runs the numbers on your own amount.

The gold and silver price page answers one question well: what the metal itself is worth in India right now. Nothing on it is a recommendation to buy or sell.