How Live Gold Rates Work — And How to Track Them
LBMA, MCX, and rupee conversion explained simply. Know when rates are in your favour before you call a buyer.
The price of gold is set globally, adjusted locally, and changes every second during market hours. Understanding where the number comes from puts you in a much stronger position as a seller.
Where the global rate comes from
The benchmark is set twice daily by the London Bullion Market Association (LBMA) — the "London Fix". This is a USD per troy ounce price agreed by major global banks. Spot gold trades 24 hours around this benchmark.
How it becomes an Indian price
MCX (Multi Commodity Exchange) is India's primary gold derivatives exchange. The MCX rate incorporates the global USD price plus import duty (currently 15%), IGST, and the USD/INR exchange rate at the time. The result is a rupee-per-10-gram price updated throughout the trading day.
| Component | Current approximate value |
|---|---|
| LBMA spot price | ~$2,700 / troy oz |
| Import duty (15%) | +$405 |
| IGST (3%) | +$93 |
| USD/INR conversion | ×83.5 |
| Per gram (÷ 31.1) | ≈ ₹8,750 /g (indicative) |
The best tools to track gold rates
- MCX website or app — live intraday gold futures prices
- GoodReturns.in — real-time city-wise 22K and 24K rates
- IBJA (India Bullion and Jewellers Association) — official daily rates used by most jewellers
- Google: search "gold rate today" for a quick IBJA rate
Rates on weekdays during market hours (9am–11:30pm) are live. Weekend rates are the previous Friday's close — prices will adjust when markets reopen Monday.
What this means for your sale
A reputable buyer will apply the MCX rate at the moment of the offer — not a rate from earlier in the day. If the rate has risen significantly since you booked your appointment, you should receive the benefit. Always confirm this policy before booking.
Got gold to sell?
We come to you.
Doorstep visit, XRF tested in front of you, paid at the live rate — in Noida and Greater Noida.