India · INR · October 1996
Gold Price in India — October 1996
India gold price archive for October 1996 — historical INR reference rates per tola, gram and ounce.
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 — October 1996, India
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$381.07/oz
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$380.30/oz
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$378.90/oz
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$380.70/oz
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$383.80/oz
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$380.10/oz
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$380.90/oz
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$381.40/oz
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$381.80/oz
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$380.80/oz
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$384.10/oz
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$380.90/oz
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$381.00/oz
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$381.50/oz
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$380.60/oz
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$380.00/oz
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$384.00/oz
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$381.00/oz
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$383.40/oz
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$383.50/oz
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$383.00/oz
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$382.60/oz
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$384.90/oz
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$382.90/oz
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$381.70/oz
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$379.70/oz
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$379.50/oz
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 1996 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 October 1996 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 October 1996
What was the gold price in India in October 1996?
Historical INR gold price archive for India in October 1996.
What was the 24K gold rate per tola in India in October 1996?
Tola-based gold rate for India in October 1996 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 October 1996?
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 October 1996 (sourced from gold-api.com), multiplied by the 1996-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 1996-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 1996 archive or the USD-only October 1996 page with the country-by-country list at the bottom.
Other markets? Compare October 1996 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 1996-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.