Updated 6/10/2026, 8:06:08 pm
Market Pulse
Gold held steady today.
24K gold today: ₹13,175/g
Global drivers
India specific
Analysis
What this means for Indian gold
How global factors translate into local prices.
International gold prices are set by the COMEX futures market in US dollars per troy ounce. That price, converted at the current USD/INR rate of 96.38, gives a base for Indian rates. Today's COMEX-implied Indian price is approximately ₹12,924/g.
The difference between that implied price and our observed retail price -- 1.9% -- is India's “premium”. This covers import duty (currently ~15%), GST (3%), refiner margins, and dealer spread. When demand is strong (festival and wedding season), the premium widens; in quiet periods it narrows.
Crude oil and the Fed's interest rate stance are indirect drivers. Higher oil can stoke inflation expectations (bullish for gold), while a hawkish Fed (higher rates) typically pressures gold because the metal yields nothing -- bond yields become more attractive relative to holding gold.
FAQ
Frequently asked questions
Common questions about gold market drivers and pricing.
Why do gold prices change daily?+
Prices respond to international market moves (COMEX, London fix), currency shifts (USD/INR), and local demand. India imports almost all its gold, so rupee weakness makes gold costlier; rupee strength makes it cheaper.
What is COMEX?+
COMEX (New York Mercantile Exchange Commodity Exchange) sets the global benchmark for gold futures prices in USD per troy ounce. Most international reporting quotes this price.
How does USD/INR affect gold?+
Gold is priced globally in dollars. A weaker rupee means more rupees per dollar, which means more rupees per gram of gold. Every 1% change in USD/INR translates to roughly a 1% shift in Indian gold prices, all else equal.
What is India gold premium?+
The gap between the international spot price (converted to INR) and the retail Indian price. It reflects import duty, GST, and local dealer margins. Premiums of 3-15% are typical.
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