18K vs 22K vs 24K Gold on October 9: Which Purity Gives You the Bigger Loan?

Gold rates for October 9 are out for major Indian cities. As reported by Mathrubhumi English, the list covers 18K, 22K and 24K gold.

What does it mean for you? Use the rate for your own city and your own karat. That's the number that matters when you buy, sell or pledge gold.

Key takeaways

• Gold comes in three common purities: 24K, 22K and 18K. Each has its own price.
• City rates can differ a little, so check the rate for your city.
• Your gold loan amount depends on the day's rate, your gold's purity and its weight.
• One day's rate isn't a trend. Don't rush to buy or sell on a single number.

How 18K, 22K and 24K gold rates work

The karat tells you how pure the gold is. 24K is the purest, at about 99.9% gold. 22K is about 91.6% gold. The rest is other metals, which make jewellery harder and less likely to bend.

18K is 75% gold. That's why it costs less per gram than 22K or 24K. Most necklaces and bangles are 22K. Many modern designs and studded pieces are 18K.

Rates are usually shown per gram or per 10 grams. A city's rate can differ a little from another city's. Local taxes and transport costs play a part. Jewellers also add making charges and GST on top of the rate.

Karat	Gold purity	Pure gold in a 10 g piece
24K	About 99.9%	About 9.99 g
22K	About 91.6%	About 9.16 g
18K	75%	7.5 g

You can see the day's price on our daily gold price page.

What the gold rate means for your gold loan

A gold loan is a loan you get by leaving your gold with a lender. The lender gives you a share of your gold's value. That share is called loan-to-value, or LTV. RBI sets a cap on LTV, and the cap gets lower as the loan gets bigger.

Here's a simple example with made-up numbers. Say 22K gold is worth ₹10,000 per gram. You have 20 grams. Its value is ₹2,00,000. A lender offering 75% of value would give you ₹1,50,000.

Now say the rate rises 2%. Your gold is worth ₹2,04,000. At 75%, the offer is ₹1,53,000. That's ₹3,000 more.

These numbers are only for learning. For real per-gram loan values, see our gold loan rate page.

Who is affected by city gold rates

Three groups feel the daily rate most. The first is people who already have gold pledged. Their loan stays the same, but the cushion in their gold's value changes.

The second is buyers. Families buying for weddings or festivals pay the day's rate plus making charges and GST. A small gap per gram adds up on a heavy set.

The third is people who want to sell. Jewellers often pay a bit less than the shown rate. They also deduct for purity and wear. So your payout can be lower than the headline number.

What to do now

You don't need to rush. A calm checklist works better than a quick decision.

1. Find your city's rate for your karat, not just the national figure.
2. Check your gold's purity and weight with a hallmark mark or a lender's test.
3. If you want a loan, compare interest rates and fees across lenders.
4. Work out your monthly cost with an EMI calculator.
5. Read how loans against gold work in our gold loan guide.

Pledge only what you need. Keep a plan to repay on time, so you get your gold back.

Frequently asked questions

Why are 18K, 22K and 24K gold rates different?

They hold different amounts of pure gold. 24K has the most, so it costs the most per gram. 18K has the least, so it costs the least.

Is the gold rate the same in every Indian city?

Not always. Small gaps can appear because of local taxes and costs. That's why you should check the rate for your own city.

Does a higher gold rate mean a bigger gold loan?

Yes, usually. Lenders give a share of your gold's value. When the rate rises, the value rises, and so can your loan offer.