Gold increased 393.93 USD/t oz. or 15.01% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold - values, historical data, forecasts and news - updated on March of 2025.

In April 2020, the price of gold in India was 1683.2 U.S. dollars per troy ounce, a decrease compared to the previous year. This can be attributed to the COVID-19 pandemic during which the country was under lockdown. In addition, the gold price in January 2020 was 1560.7 U.S. dollars per troy ounce, which was a decrease compared to the year before.

The average price of gold in Mumbai stood at approximately 60,623 Indian rupees per ten grams during the financial year 2024, up from 53,000 Indian rupees per ten grams in the previous year. Nevertheless, the price of gold in the Indian city has experienced an overall increase in recent years.

After three years of decline, the Indian gold market increased by 162% to $X in 2021. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

During the last quarter of 2024, the gold prices in the USA reached 2652 USD/Troy Ounce (H2 2024 Avg Price) in December. As per the gold price chart, due to changing investor attitudes and economic developments, prices in the United States experienced substantial fluctuations in late 2024.

Explore IMARC’s newly published report, titled “Gold Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of gold pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Bullion Price: Monthly Average: Mumbai: Gold: Standard data was reported at 76,195.000 INR/10 g in Dec 2024. This records a decrease from the previous number of 76,221.000 INR/10 g for Nov 2024. Bullion Price: Monthly Average: Mumbai: Gold: Standard data is updated monthly, averaging 9,559.000 INR/10 g from Apr 1990 (Median) to Dec 2024, with 417 observations. The data reached an all-time high of 76,713.000 INR/10 g in Oct 2024 and a record low of 3,285.000 INR/10 g in Jul 1990. Bullion Price: Monthly Average: Mumbai: Gold: Standard data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.PG002: Memo Items: Bullion Price.

After two years of growth, the Indian semi-manufactured gold market decreased by -32.4% to $X in 2022. Over the period under review, consumption continues to indicate a precipitous decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

High Frequency Indicator: The dataset contains year- and month-wise compiled data on the average prices of Gold (Standard) and Silver at Mumbai in India

Gold Price in India - 2023. Find the latest marketing data on the IndexBox platform.

The demand for gold across India was about 747.5 metric tons in 2023. This represented a decrease of three percent in comparison to the previous year, when the gold demand was 774 metric tons. Gold supply Gold demand in India is principally met through imports. India is one of the leading countries for gold imports. In financial year 2022, the value of India’s gold imports was estimated at over 3.4 trillion Indian rupees. The import of gold was a major cause for the country’s trade deficit. To curb imports, the Modi government changed India’s gold import policy. This was done by introducing a higher import duty and allowing import only via nominated agencies which were notified by the Reserve Bank of India and the Directorate General of Foreign Trade. The country produces a minimal amount of its gold needs through local mining. The volume of gold mined in India has remained below two metric tons since financial year 2013, while a small amount is also generated by the recycling the precious metal. Reasons to purchase gold Gold purchases are considered an important source of investment. Weddings and festivals across the country lead to major gold sales. Around 20 percent of annual sales come from Deepavali, the Hindu festival of lights. The precious metal is considered auspicious and is worn on important occasions and ceremonies in India, mainly in the form of jewelry. Since 2010, more than 500 metric tons of gold jewelry are consumed in the country every year.

In 2023, the average nominal price of silver in India was 61,981 Indian rupees for one kilogram, which was a decrease of over 14,000 rupees from the previous year. India was the world's 11th largest silver mining country as of 2021.

Silver increased 4.76 USD/t. oz or 16.49% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Silver - values, historical data, forecasts and news - updated on March of 2025.

During the last quarter of 2024, the silver prices in the USA reached 31.3 USD/toz (H2 2024 Avg Price) in December. As per the silver price chart, prices surged during the latter half of 2024, largely influenced by the Federal Reserve’s interest rate cuts, which diminished the dollar. This shift made silver an attractive investment, particularly as a lower-cost alternative to gold.

Explore IMARC’s newly published report, titled “Silver Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of silver pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

India IN: International Liquidity: Gold at Market Price data was reported at 16,043.880 XDR mn in Sep 2018. This records a decrease from the previous number of 16,184.063 XDR mn for Jun 2018. India IN: International Liquidity: Gold at Market Price data is updated quarterly, averaging 2,807.001 XDR mn from Dec 1950 (Median) to Sep 2018, with 254 observations. The data reached an all-time high of 20,650.766 XDR mn in Sep 2012 and a record low of 244.416 XDR mn in Mar 1966. India IN: International Liquidity: Gold at Market Price data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.IFS: International Liquidity: Quarterly.

In 2023, after two years of growth, there was significant decline in the Indian silver market, when its value decreased by -55.4% to $3.2B. In general, consumption, however, recorded a perceptible increase. As a result, consumption reached the peak level of $7.2B, and then fell markedly in the following year.

India Gold Chloride Market is expected to grow during 2025-2031

Gold Jewelry Market size was valued at USD 192,500.00 Million in 2023 and is projected to reach USD 344,856.21 Million by 2031, growing at a CAGR of 7.69% from 2024 to 2031.

Global Gold Jewelry Market Overview

The Global Gold Jewelry Market is significantly driven as disposable incomes rise in emerging markets, particularly in countries like India and China, more consumers have the financial means to purchase luxury items, including gold jewelry. Economic growth in these regions, accompanied by urbanization and an expanding middle class, allows consumers to indulge in higher-end products. Gold, in these markets, is seen not just as an accessory but as a symbol of wealth and social status. Additionally, gold’s reputation as a secure investment option especially in times of economic uncertainty encourages consumers to buy gold jewelry as a form of financial protection.

As of June 2024, Invesco G-ETF was the leading gold ETF company in India in terms of market capitalization. HDFC Gold ETF followed in the second place. Gold ETFs are passive investment instruments that track the physical gold price.

NCDEX: Spot Price: Gold Premium/Discount: Ahmedabad: Second Session data was reported at -18.250 USD/Troy oz in 25 Mar 2025. This records an increase from the previous number of -19.000 USD/Troy oz for 24 Mar 2025. NCDEX: Spot Price: Gold Premium/Discount: Ahmedabad: Second Session data is updated daily, averaging -4.000 USD/Troy oz from Jan 2023 (Median) to 25 Mar 2025, with 546 observations. The data reached an all-time high of 28.000 USD/Troy oz in 23 Jul 2024 and a record low of -78.000 USD/Troy oz in 18 Jul 2024. NCDEX: Spot Price: Gold Premium/Discount: Ahmedabad: Second Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

In 2017, the amount of gold, unwrought or in powder form imported into India amounted to X tons, rising by X% against the previous year. Overall, the total imports indicated a remarkable expansion from 2007 to 2017: it volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the imports of gold, unwrought or in powder form decreased by -X% against 2015 indices.