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How Are Gold Rates Set in India?

Last updated 28 July 2026

The gold rate you see at a jeweller is built up from several layers.

1. International spot price

Gold trades globally in US dollars per troy ounce. This is the base that moves 24x7 with demand, interest rates and global risk.

2. Rupee-dollar exchange rate

The dollar price is converted to rupees, so a weaker rupee pushes Indian gold prices up even if global gold is flat.

3. Import duty & GST

India imports most of its gold, so customs duty is added, then 3% GST on top at billing.

4. Association benchmark & jeweller premium

Bodies like the IBJA publish a daily bullion reference. Individual jewellers add a small premium over this for sourcing and hallmarking - which is why rates differ slightly between brands.

We track that gap for you: see the live gold rate today and each jeweller's premium over the IBJA benchmark.