Determining the prices of gold in India is part of the jobs of the bullion association, who arrives at the live gold rates in India. The Indian Bullion Jewellers Association (also called the IBJA) plays a major role in determining the day-to-day as well as the latest gold prices in the country. Its members include the most prominent gold dealers in the nation, who have a collective hand in establishing these daily prices. Gold is imported as 24K and 22K into the country. 24 karat gold rate will be higher than 22 karat gold rate as 24 karat gold is more expensive than 22K gold due to its 99.99% purity. Learn more about different gold karats in our guide – Difference between Gold Karats.
Even though we say live gold prices in India, they do not change much during the day. Mainly the imports take place based on the requirements within the market.