How This Calculator Works

Introduction

Welcome to Gold Calculator India! Our calculator helps you estimate the current gold and silver prices based on daily market data.

Data Sources

We source our data from reputable market sources that update daily prices for gold and silver.

Calculation Method

Our calculator uses the following formula to determine the price:

Price = (Weight in grams) × (Current Price per gram)

How Gold Price is Calculated in India?

Gold prices in India are determined by a combination of several factors:

International Market Prices

A major factor affecting gold prices in India is the international gold market. Prices are influenced by global demand and supply, geopolitical events, and economic data from major economies.

Currency Exchange Rates

Since gold is traded in USD worldwide, the exchange rate between the US Dollar and the Indian Rupee (INR) plays an important role. If the INR weakens against the USD, gold prices appreciate in India, and vice versa.

Import Duties

India imports a large portion of its gold. The government levies an import duty on gold, which directly affects the sale price. Higher import duties increase the price of gold in the domestic market.

Goods and Services Tax (GST)

GST on gold in India is another factor that adds to the final price. Currently, the GST rate on gold purchases is 3%.

Local Demand and Supply

Household demand for gold, influenced by cultural factors, festivals, and wedding seasons, can affect prices. High demand can cause prices to rise, while low demand can cause prices to fall.

Central Bank Policies

The policies and actions of the Reserve Bank of India (RBI) and other central banks can affect gold prices. For example, changes in interest rates and gold reserve policies can affect market sentiment and prices.

Market Speculation

Speculative activities such as trading and investing in the gold market can cause prices to rise.

Inflation

Inflation usually causes the price of gold to rise as people buy gold as a hedge against inflation.

Together, these factors determine the daily gold prices in India. Prices are generally updated twice a day by the Indian Bullion and Jewellers Association (IBJA) and are used by jewellers and traders across the country.

User Guide

  1. Enter the weight of gold or silver you want to calculate.
  2. Select the purity level (24K, 22K, 18K, etc.).
  3. Click "Calculate" to see the current price.

Disclaimer

The prices displayed are for informational purposes only and are not guaranteed to be accurate. Always consult with a professional before making any financial decisions.