India · INR · Sunday, May 2, 2004
Gold Price in India — May 2, 2004
On May 2, 2004, gold in India closed at approximately ₹17,430 per troy ounce — about ₹6,536 per tola or ₹560 per gram. The figure is computed from the verified international XAU/USD spot price ($389.40/oz) × the day's INR/USD exchange rate.
INR / Troy Ounce
₹17,430
31.1035 g
INR / Gram
₹560
1 g
INR / Tola
₹6,536
11.664 g
All unit prices on May 2, 2004 — India
| Unit | Weight | INR price |
|---|---|---|
| Troy ounce | 31.1035 g | ₹17,430 |
| Gram | 1.0000 g | ₹560 |
| 10 grams | 10 g | ₹5,604 |
| Kilogram | 1,000 g | ₹560,372 |
| Tola | 11.664 g | ₹6,536 |
Karat-purity breakdown — May 2, 2004
| Karat | Per gram | Per 10g | Per tola |
|---|---|---|---|
| 24K | ₹560 | ₹5,598 | ₹6,530 |
| 22KINDIA STD | ₹513 | ₹5,133 | ₹5,987 |
| 21K | ₹490 | ₹4,903 | ₹5,719 |
| 18K | ₹420 | ₹4,203 | ₹4,902 |
| 14K | ₹328 | ₹3,278 | ₹3,824 |
| 10K | ₹234 | ₹2,337 | ₹2,726 |
Surrounding ±15 trading days — INR
Price action on May 2, 2004
1-day move
vs prior session
7-day move
rolling week
30-day move
rolling month
YTD
since 1 Jan 2004
Calendar position
Day 123 of 366
Trading day
106th of 315
Position in 2004's range
18% (low $375.00 → high $456.55)
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 (₹)
May 2 in other years — India
May 2, 2004 gold price in other countries
How this May 2, 2004 India price is calculated
International benchmark. The XAU/USD spot price for May 2, 2004 comes from gold-api.com's historical archive — the London PM-fix benchmark, which is the reference used by central banks and bullion dealers globally. On this date, that price was $389.40/oz.
Currency conversion. The INR/USD exchange rate for the same date comes from exchangerate-api.com. We apply that day's exact rate (44.76) to the USD price — not a year-average or month-end approximation. This makes the ₹ figure on this page accurate to the trading session.
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). We never compound rounding errors by going through intermediate units.
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 “India gold market” section above. The retail rate at a jeweller in India on May 2, 2004 would have been a few percent above this number once those costs are included.
FAQ — India gold price on May 2, 2004
What was the gold price in India on May 2, 2004?
On May 2, 2004 (Sunday), gold in India traded at approximately ₹17,430 per troy ounce. That works out to about ₹560 per gram, ₹6,536 per tola, and ₹5,604 per 10 grams. The figure is derived from international XAU/USD spot of $389.40/oz × the day's INR/USD exchange rate of 44.76.
What was the 24K gold rate per tola in India on May 2, 2004?
The 24K gold rate per tola in India on May 2, 2004 was approximately ₹6,530 (99.9% pure metal value). This excludes local taxes, dealer making charges and any country-specific levies — those add on top to produce the final retail rate.
What was the 22K gold rate in India on May 2, 2004?
India's most-quoted retail standard is 22K per 10 grams. On May 2, 2004, that pure-metal value was approximately ₹5,133. Add country-specific taxes and making charges (see the market-context section above) for the final retail rate.
How accurate is this number versus what jewellers were quoting?
The ₹ figure on this page is the verified international XAU/USD spot price for May 2, 2004 multiplied by the day's exchange rate. It represents the pure metal value at international parity — what a London-fix benchmark would have implied. Local jewellers add (1) import duties + sales tax / VAT, (2) dealer making charges (typically 3–12% of metal value), and (3) any premium for purity certification. Final retail rates in India typically sit a few percent above this number.
Was May 2, 2004 a trading day?
Yes — May 2, 2004 was the 106th trading session of 315 for 2004 on the international gold market. Sundays are typically active trading days unless they fall on a major holiday.
Want today's rate in India? See live gold prices in India with minute-by-minute updates and full karat breakdowns. To compare this archive figure against the live rate, that's where to go.
Different unit on this same date? The USD-only daily archive for May 2, 2004 includes per-day prices in 100+ other currencies and is the canonical reference page for this date.
Browse the archive. Step through every day of May 2004 in India, see the full 2004 archive, or use our tola, gram and karat calculators for live calculations against today's rate.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested date, converted to INR at the same day's 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.