Gold Rate Last 10 Days: Five Sites, ₹8,481 Apart on One Day
Five popular gold rate pages quoted five different prices for the same metal on the same morning, a spread of ₹8,481 per 10 grams. Here is how to read a ten-day gold chart before you walk into a showroom.
One morning, one metal, five different prices#
On the morning of 14 September 2026, five of the gold rate pages Indians open most often were quoting five different prices for the same metal.
Paytm had 24-carat gold at ₹1,58,161 per 10 grams. Groww had ₹1,54,570. A page carrying the IBJA benchmark had ₹1,53,880. ClearTax had ₹1,51,938. BankBazaar quoted 8 grams at ₹1,19,744, which works out to ₹1,49,680 for 10.
Top to bottom, ₹8,481 per 10 grams. That is 5.67%. Scaled to a 20-gram 22-carat chain, the same metal moves by about ₹15,500 depending on which tab you happened to have open, before a rupee of making charge or GST.
"Gold rate today" is searched about 124 million times a month in India, and "gold rate last 10 days" about 49,500 times, according to Google Ads data retrieved on 15 September 2026. Most of that traffic is people checking a chart before a purchase. The chart is worth checking. It is also worth knowing what it measures.
What the number on the board actually is#
Almost every Indian gold rate traces back to one benchmark, published by the India Bullion and Jewellers Association, or IBJA. Its spot polling mechanism is public and unusually plain. Twice on every business day, between 11:30 and 12:00 and again between 16:30 and 17:00, IBJA collects tradable prices from 29 physical market participants on the gold panel: bullion dealers, jewellers, refiners, scrap dealers, importers and exporters. The highest quote and the lowest quote are thrown out, the rest are averaged, and the result is published at about 12:05 and 17:05.
Two things about that rate matter to a buyer. It includes import duty and customs but explicitly excludes GST, cess and surcharges, so it is a pre-tax number. And it prices bullion at wholesale, not an ornament at retail. The polling itself is done on Gold 995 purity, with 999 derived from it and every other caratage worked out from 999.
The carat arithmetic follows automatically. Purity is measured in twenty-fourths, so 22-carat is 91.6% gold and 18-carat is 75%. On 15 September the quoted rates were ₹15,408 per gram for 24-carat, ₹14,124 for 22-carat and ₹11,556 for 18-carat, all indicative and before GST, TCS and making charges. Divide: 91.67% and exactly 75%. There is no separate market in 22-carat gold. There is one price and a multiplication.
This benchmark is not merely conventional. The Reserve Bank's Lending Against Gold and Silver Collateral Directions, 2025, issued on 6 June 2025 with compliance required from 1 April 2026, tell lenders to value your jewellery at "the lower of (a) the average closing price ... over the preceding 30 days, or (b) the closing price ... on the preceding day, as published either by the India Bullion and Jewellers Association Ltd. (IBJA) or by a commodity exchange regulated by" SEBI. The same Directions add that "only the intrinsic value of the gold or silver contained in the eligible collateral shall be reckoned, and no other cost elements, such as precious stones or gems, shall be added thereto."
Worth remembering the next time a making charge is described to you as part of the value of the piece.
Ten days of gold, and a chart that is calmer than it looks#
Here is the series for the first fortnight of September, on one consistent basis, 24-carat per 10 grams.
24-carat gold, ₹ per 10 grams, trading days 1 to 14 September 2026
1 Sep ███████████ 1,53,183
2 Sep █ 1,51,184 <- low
3 Sep ███████████████ 1,53,941
4 Sep ███████████████████ 1,54,884 <- high
7 Sep █████████ 1,52,703
8 Sep ██████████ 1,53,077
9 Sep ████████████ 1,53,486
10 Sep ███████████ 1,53,287
11 Sep █████ 1,51,938
14 Sep ██████████████████ 1,54,570
└────┴────┴────┴────┘
1.51 1.52 1.53 1.54 1.55
₹ lakh per 10 grams
Daily rates from Groww, retrieved 14 September 2026. Note the axis begins at ₹1,51,000, not at zero.
Start with that footnote. Practically every gold chart online is drawn on a truncated axis, because a zero-based scale would flatten a fortnight of trading into a straight line. Nothing dishonest in that, but a 2.45% range ends up looking like a mountain profile. Read the figures rather than the silhouette.
Now the dates. There is no 5, 6, 12 or 13 September in that list. Those were weekends, when the bullion market is shut and nothing is polled. Several consumer pages carry Friday's number forward and stamp it with Saturday's and Sunday's dates, which is why Paytm showed the same rate for 5 and 6 September, and again for 12 and 13. A flat weekend is a closed market, not a calm one.
The range is the part most people misjudge. Across those ten sessions the high was ₹1,54,884 on 4 September and the low ₹1,51,184 on 2 September, a gap of ₹3,700, or 2.45%. The fortnight finished 0.91% above where it started. Daily moves of 1% to 1.8% in both directions were routine and mostly cancelled each other out.
That is not a forecast. It is a measure of how much the metal in your purchase could reasonably wobble while you make up your mind.
Why no two websites agree#
Now put the five quotes side by side, along with what the same gold would cost at international parity with no Indian duty attached.
"24-carat gold, per 10 grams" on 14 September 2026,
by whichever page you happened to open
Paytm ████████████████████████████ 1,58,161
Groww █████████████████████████ 1,54,570
IBJA (999) ████████████████████████ 1,53,880
ClearTax ██████████████████████ 1,51,938
BankBazaar ████████████████████ 1,49,680
Parity, no ███ 1,32,830
Indian duty
└─────────┴─────────┴─────────┘
1.30 1.40 1.50 1.60
₹ lakh per 10 grams
All figures retrieved 14 and 15 September 2026 from the pages linked above. The parity line is FXStreet's rupee conversion of the international price.
The spread has four causes, and every one of them can be checked.
The biggest is GST. IBJA quotes before tax. Add the 3% that the GST Council's own sectoral FAQ applies to the total transaction value of a jewellery purchase, and ₹1,53,880 becomes ₹1,58,496, a whisker away from the highest quote on the list. A page that looks expensive is often just showing you the tax the others have left out.
The second is staleness. ClearTax displayed ₹15,193.80 per gram under the date 14 September, down 0.88%. That is exactly the 11 September figure and exactly the 11 September change. Three days had gone by on the page's clock but not in its price feed.
The third is geography, and it is small. On 15 September Delhi quoted ₹15,423 per gram against a national ₹15,408, with Ahmedabad and Vadodara at ₹15,413. Local association levies and transport cover the difference. Anyone promising a large city-to-city arbitrage is selling something.
The fourth is that spot and futures are not the same instrument. MCX's October gold contract closed at ₹1,52,655 per 10 grams on 11 September, below the spot quote that week. A futures price carries a delivery month and a cost of carry inside it. It is not what a dealer will sell you metal for this afternoon.
The ₹21,050 the border adds#
The bottom bar on that chart is the one most buyers never see.
At international parity, converted at the prevailing exchange rate, 10 grams of gold cost ₹1,32,830 on 14 September. The IBJA rate the same day was ₹1,53,880. The gap is ₹21,050 per 10 grams, about 15.9%.
That is very close to the effective import duty on bullion, which the finance ministry raised from 6% to 15% with effect from 13 May 2026 through customs notifications 15 to 18 of 2026. India mines almost no gold, so every gram lands paid for in dollars and taxed at the border. A duty change moves your jeweller's board without the international price moving at all.
The international price, for the record, has been falling. Spot gold traded at about US$4,312 an ounce on 15 September, roughly 23% below the record US$5,608 set in January 2026, after touching US$4,282, its lowest since August. Rising US Treasury yields and expectations of a Federal Reserve rate increase have been the pressure; gold pays no interest, so higher yields make it less attractive to hold. Yet the rupee rate has barely sagged, because duty and the exchange rate absorbed the fall. Reading the dollar chart and expecting your showroom bill to follow it down is a common and expensive error.
The line item the chart never shows#
Take the 15 September 22-carat rate of ₹14,124 a gram and build an honest bill for a 20-gram chain.
Metal comes to ₹2,82,480. Add a making charge at 12%, which sits mid-range for a machine-made chain, and that is ₹33,898. Hallmarking is ₹45 per article plus tax, with a minimum of ₹200 per consignment, so call it ₹45. Subtotal ₹3,16,423. Add 3% GST on the whole thing, ₹9,493. You pay about ₹3,25,916.
Of that, ₹43,436 is not gold. It is 13.33% of the bill, and under the RBI's valuation rule quoted earlier, a lender will not count a paisa of it.
Now compare the two numbers a buyer can actually influence.
The entire ten-day price range, 2.45%, comes to ₹6,912 on that much metal. The difference between a making charge of 8% and one of 18%, a normal spread between a negotiated quote and a walk-in quote for similar work, is ₹29,095 including GST. The negotiation is worth 4.2 times the whole chart.
Which is the practical point. Timing a purchase inside a fortnight is close to noise. What goes on the second line of the invoice is not.
Two checks cost nothing at the counter. Mandatory hallmarking now covers 380 districts, and every hallmarked piece carries a six-character HUID that you can verify on the BIS Care app before paying. And ask for an itemised invoice showing net metal weight, purity in both carat and fineness, making charge and hallmarking charge separately, which is what BIS guidelines for jewellers require. With Dhanteras on 6 November, the crowds are exactly when both get skipped.
Key takeaways#
- Five widely used rate pages quoted 24-carat gold between ₹1,49,680 and ₹1,58,161 per 10 grams on 14 September 2026, a spread of 5.67%. The main cause is that some include 3% GST and some do not.
- The IBJA benchmark is polled twice daily from a panel of 29 gold market participants, with the highest and lowest quotes discarded, and is published before GST. It is the reference the RBI directs lenders to use.
- Across 1 to 14 September the 24-carat rate ranged ₹3,700, or 2.45%, and finished the fortnight 0.91% higher. Weekend gaps on consumer charts are a closed market, not a steady one.
- Indian gold carried a premium of about ₹21,050 per 10 grams over international parity, tracking the effective 15% import duty imposed on 13 May 2026.
- On a 20-gram 22-carat chain, the gap between an 8% and an 18% making charge is worth 4.2 times the entire ten-day price range.
Frequently asked questions#
Which gold rate should I actually trust? For the metal itself, the IBJA rate for the relevant purity, and check whether the page quotes it before or after GST. For what you will pay, only the jeweller's itemised invoice settles it.
Why does the rate not change while I am in the shop? Most retailers fix the day's rate from the morning IBJA publication and hold it until the next one. The international price moves continuously; your counter price usually does not.
Is 22-carat gold a separate market from 24-carat? No. 22-carat is 91.6% of the 24-carat rate by arithmetic. If a shop's 22-carat quote is not close to 91.6% of its 24-carat quote, ask why.
Does a ten-day chart help me time a purchase? It tells you the recent range, which in this fortnight was 2.45%. It has no predictive content, and the amount at stake is smaller than the making charge on most ornaments.
Why is the rate flat on Saturday and Sunday? The bullion market is closed and no rate is polled. Pages that show a weekend figure are usually repeating Friday's.
What is the difference between the MCX price and the shop price? MCX quotes a futures contract with a delivery month, in a standard purity, exclusive of GST. A showroom sells finished jewellery of a chosen caratage with labour and tax added.
Should I buy now, given prices are off their peak? This article does not give investment advice. What it can tell you is that the international price is roughly 23% below its January record, that Indian rates have fallen far less because of duty, and that the controllable cost is the making charge.
Glossary#
IBJA rate. The benchmark price published twice each business day by the India Bullion and Jewellers Association, polled from physical market participants and quoted before GST.
Fineness. Purity expressed in parts per thousand. 999 is 99.9% pure, 995 is 99.5%, 916 corresponds to 22 carat.
Carat. Purity in twenty-fourths. 24 carat is nominally pure, 22 carat is 91.6% gold, 18 carat is 75%.
HUID. Hallmark Unique Identification, a six-character alphanumeric code stamped on each hallmarked article and verifiable on the BIS Care app.
Making charge. The jeweller's fee for turning metal into an ornament, quoted either as a percentage of metal value or in rupees per gram. It is not recovered on resale.
Spot and futures. Spot is the price for immediate physical delivery. A futures price refers to a contract settling in a later month and includes carrying cost.
Truncated axis. A chart whose vertical scale starts above zero, which magnifies small percentage moves visually. Standard practice in price charts, and a reason to read the figures.
Effective import duty. The combined basic customs duty, surcharge and cess charged on imported bullion, standing at 15% since 13 May 2026.
References#
- India Bullion and Jewellers Association, spot polling mechanism: how IBJA rates are arrived at
- Reserve Bank of India, Lending Against Gold and Silver Collateral Directions, 2025, 6 June 2025
- Bureau of Indian Standards, hallmarking FAQs: charges, HUID, permitted purities
- Bureau of Indian Standards, guidelines for jewellers on invoice disclosure, July 2026
- GST Council, sectoral FAQ on gems and jewellery, 3% on total transaction value
- TaxGuru, customs notifications 15 to 18 of 2026 raising effective duty on gold and silver to 15% from 13 May 2026
- Groww, gold rates in India, ten-day daily history, retrieved 14 September 2026
- Paytm, gold rate today in India, retrieved 14 September 2026
- BullionLive, IBJA gold rate today, retrieved 14 September 2026
- ClearTax, gold rate in India today, retrieved 14 September 2026
- BankBazaar, today's gold rate in India, retrieved 14 September 2026
- Sunday Guardian, gold price on 15 September 2026, 24K at ₹15,408 per gram, city-wise rates
- FXStreet, gold price in India, 14 September 2026, international prices adapted to local currency and units
- India.com, gold price on 14 September 2026, Comex and MCX October contract levels
- Trading Economics, gold spot price, year-to-date change and January 2026 record, retrieved 15 September 2026
- News on AIR, mandatory hallmarking extended to 380 districts, 12 March 2026
- Samvat, Dhanteras and Diwali dates for 2026
- Google Ads search volumes for India, retrieved through DataForSEO, 15 September 2026
This article is journalism, not investment advice. Rates quoted were those displayed on 14 and 15 September 2026 and change daily. Verify the current rate and your invoice before buying, and consult a qualified adviser about your own circumstances.
