India · INR · August 1994

Gold Price in India — August 1994

India gold price archive for August 1994 — historical INR reference rates per tola, gram and ounce.

+0.49% on the month

The India gold market

India is the world's second-largest retail gold consumer behind China. Retail prices are quoted per 10 grams in 22-karat purity (the jewellery standard). Imports attract a basic customs duty (currently around 12.5%) plus 3% GST, plus state-level taxes — so retail rates run notably above international spot. The Indian Bullion and Jewellers Association (IBJA) publishes a daily reference rate that most regional jewellers benchmark against.

Standard quote unit

10 grams

Common purity

22K

Currency

INR (₹)

Daily gold price — August 1994, India

01Aug 1, 1994

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$383.90/oz

02Aug 2, 1994

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$380.00/oz

03Aug 3, 1994

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$378.50/oz

04Aug 4, 1994

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$377.50/oz

05Aug 5, 1994

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$378.30/oz

07Aug 7, 1994

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$383.10/oz

08Aug 8, 1994

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$377.60/oz

09Aug 9, 1994

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$378.70/oz

10Aug 10, 1994

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$378.30/oz

11Aug 11, 1994

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$377.60/oz

12Aug 12, 1994

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$378.20/oz

14Aug 14, 1994

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$382.50/oz

15Aug 15, 1994

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$376.60/oz

16Aug 16, 1994

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$376.30/oz

17Aug 17, 1994

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$377.20/oz

18Aug 18, 1994

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$380.70/oz

19Aug 19, 1994

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$381.80/oz

21Aug 21, 1994

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$388.10/oz

22Aug 22, 1994

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$382.60/oz

23Aug 23, 1994

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$381.40/oz

24Aug 24, 1994

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$383.90/oz

25Aug 25, 1994

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$383.30/oz

26Aug 26, 1994

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$383.30/oz

28Aug 28, 1994

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$394.00/oz

29Aug 29, 1994

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$383.30/oz

30Aug 30, 1994

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$386.60/oz

31Aug 31, 1994

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$385.80/oz

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How India gold prices are calculated on this page

Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The INR/USD exchange rate comes from exchangerate-api.com's 1994 year-end snapshot.

Conversion. Every INR figure on this page is computed as XAU/USD price × INR/USD rate. We use the year-end exchange rate consistently across all August 1994 prices on this page.

Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).

What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in India, add the country-specific levies described in the “Indiagold market” section above.

FAQ — India gold price in August 1994

What was the gold price in India in August 1994?

Historical INR gold price archive for India in August 1994.

What was the 24K gold rate per tola in India in August 1994?

Tola-based gold rate for India in August 1994 requires both XAU/USD and INR/USD data which is unavailable for this period.

What was the 22K gold rate per 10 grams in India in August 1994?

Retail rate calculation requires international XAU/USD spot and INR/USD FX, both of which are missing for this period.

How was the local currency price calculated?

INR prices on this page are computed from the verified international XAU/USD spot price for August 1994 (sourced from gold-api.com), multiplied by the 1994-end INR/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.

Why does the retail price in shops differ from this number?

The ₹ figures here represent the international gold spot price converted to INR at the 1994-end exchange rate. India's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.

Want today's rate in India? See live gold prices in India with minute-by-minute updates and per-karat breakdowns.

Different month or year? Use the prev / next buttons above, or jump to the full 1994 archive or the USD-only August 1994 page with the country-by-country list at the bottom.

Other markets? Compare August 1994 prices across other major gold-trading countries: Pakistan, United Arab Emirates, Saudi Arabia, United States, United Kingdom.

Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to INR at the 1994-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in India before transacting.