Gold Rates Today
Gold Rates Today: Midnight Gold Import Duty Shock Drives Market Frenzy. Local prices diverge after import duty hike hits Indian gold market, while global prices remain rangebound India’s gold market buzzed to life after a midnight import duty hike triggered a sharp divergence in local prices, even as global gold markets remained comparatively rangebound. Suddenly, buying gold wasn’t just about jewellery choices anymore, it felt more like stepping into an economic thriller. As 24K gold prices surged to ₹1,53,990 per 10 grams, jewellers, investors, and hurried bridegrooms began revisiting their budgets. Overnight, the government’s policy move effectively added extra weight to every gram of gold sold locally. While international markets stayed relatively calm, Indian buyers were instantly thrown into a frenzy. It’s yet another reminder that in India, gold prices don’t just follow markets, they follow midnight policy decisions.
India’s gold market erupted into a full-blown fireworks show on MCX when the government’s midnight order to double the effective gold import duty to 15% caused a ripple effect of rising prices. MCX gold futures for June 5 contracts jumped almost 6.5% to reach an intraday peak of ₹1,63,360 per 10 grams, one of the biggest single-day rallies in recent history. From jewellers to investors, everyone was scrambling to recalculate the cost of gold, which suddenly became much more expensive overnight. The rally added more than ₹9,000 per 10 grams in a single session and once again proved that in India, policy announcements send gold prices soaring at a pace no global market has ever been able to match.
Check Out The Latest Rates In Major Cities:
| City | 24K Gold Price (10g) | 22K Gold Price (10g) | 18K Gold Price (10g) |
|---|---|---|---|
| Chennai | ₹1,56,340 | ₹1,43,310 | ₹1,17,250 |
| Delhi | ₹1,54,140 | ₹1,41,310 | ₹1,15,620 |
| Mumbai | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
| Bangalore | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
| Hyderabad | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
| Kolkata | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
| Kerala | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
| Pune | ₹1,53,990 | ₹1,41,160 | ₹1,15,500 |
(With Inputs From Good Returns)
Read More: Gold, Silver Imports Get Costlier! India Hikes Duty To 15% In Midnight Action…
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