On July 8, 2025, gold prices in Delhi fell to ₹9,618 per gram for 24-karat gold, down from ₹9,696 just a couple of days ago. That’s ₹96,180 for 10 grams, a price that’s got people excited, especially with festivals like Diwali coming up. But is this a great time to buy gold in Delhi, or should you wait? Let’s look at why prices are dropping, what this means for buyers, and whether ₹9,618 is a smart price to grab.
Why Is Gold Getting Cheaper in Delhi?
Gold prices in Delhi are lower for a few reasons:
- World Prices Are Down: Gold prices around the world dropped from $2,750 per ounce in June to about $2,620 now. Since India’s gold prices follow global trends, Delhi sees cheaper gold too.
- Lower Taxes on Gold: The government cut taxes on imported gold by 1.5% in 2025, making it less expensive to bring gold into India. This helps lower prices in Delhi’s markets.
- Fewer Buyers Right Now: Even though Diwali and wedding season are near, people in Delhi aren’t buying as much gold yet. Many are waiting for even lower prices, which keeps prices down for now.
Someone on X posted, “Gold in Delhi was ₹96,960 for 10 grams on July 6, now it’s even lower. People are watching!” This shows buyers are paying close attention.
Is ₹9,618 a Good Deal?
At ₹9,618 per gram (₹96,180 for 10 grams), 24-karat gold is at its lowest in almost three weeks, down 4% from ₹10,030 in mid-June. For 22-karat gold, used in most jewelry, it’s ₹9,160 per gram, which is tempting for festival shoppers. Here’s why you might want to buy now—or wait:
Why Buy Now?
- Festivals Are Coming: Delhi sees a big jump in gold buying during Diwali and weddings, often 20–30% more. Prices usually go up 5–10% in October and November, so buying at ₹9,618 could save you money.
- Good for Long-Term: Gold is a safe way to protect your money from rising prices. Experts think global gold prices could hit $3,000 per ounce by mid-2026, which might mean a 15–20% profit for Delhi buyers in a year or two.
- Stable Price Point: Gold experts say ₹95,500–₹96,000 for 10 grams is a strong price where buyers often step in. At ₹96,180, we’re close to that level, so prices might not drop much more.
Why Wait?
- Prices Could Drop More: Some experts think gold might fall to ₹94,000 per 10 grams if world prices hit $2,500 per ounce. Waiting could get you a better deal.
- Spending Worries: With prices for everyday things up 5.2% in June 2025, people might spend less on gold, keeping prices low for a bit longer.
- Extra Jewelry Costs: Jewelry in Delhi comes with making charges (8–15% extra), which can make the price drop less exciting. Gold coins or bars are cheaper options.
What’s Happening in Delhi’s Gold Market?
Delhi’s gold shops, like those in Karol Bagh and Chandni Chowk, are buzzing with people checking prices. Jewelers say more people are visiting since the price dropped, but many aren’t buying yet. One shop owner said, “Customers want prices to hit ₹95,000 for 10 grams before they buy.” This shows Delhi buyers are smart and waiting for the best deal.
Some people are also buying gold online or through apps like Tanishq’s GoldExchange, which have lower costs. Still, most Delhiites love buying physical gold, like 24-karat bars or 22-karat jewelry, especially for festivals.
What Do Experts and Buyers Think?
Experts have different views. Some, like Motilal Oswal, say buy now at ₹95,500–₹96,500 for 10 grams because gold will likely go up over time. Others, like HDFC Securities, think prices could dip to ₹94,500, so waiting might be better. On X, people are excited, with posts like, “Gold prices dropping in Delhi, perfect for Diwali!”
Buyers are split too. Priya, a teacher in Delhi, said, “I want a gold chain for Diwali, but I’ll wait a week to see if prices drop more.” Meanwhile, Rajesh, an investor, thinks, “Gold at ₹96,180 is a great deal compared to ₹1,00,000 last month.”
Should You Buy Now?
At ₹9,618 per gram, gold is a good deal for Delhi shoppers planning for festivals or wanting to invest for the future. The price is close to a level where it often stops falling, and festive demand could push prices up soon. But if you’re patient, waiting for a possible drop to ₹94,000–₹95,000 might save you more.
For jewelry, check prices at trusted shops like Tanishq or PC Jeweller to avoid high making charges. For investing, gold coins, bars, or digital gold are cheaper options. With gold’s lasting value and Delhi’s love for it, this dip could be a great chance—but you need to decide if it’s the right time for you.
Delhi’s gold market is alive with excitement. Will you buy at ₹9,618 or wait for a better price? It depends on what you’re planning and how much risk you’re okay with.
Last Updated on: Tuesday, July 8, 2025 10:35 am by Chandini Naidu Kotikalapudi | Published by: Chandini Naidu Kotikalapudi on Tuesday, July 8, 2025 10:35 am | News Categories: News