India · INR · March 2016
Gold Price in India — March 2016
In March 2016, the gold price in India closed at approximately ₹84,017 per troy ounce, equivalent to ₹31,507 per tola or ₹2,701 per gram. This represents a -0.65% change on the month (₹84,570 open → ₹84,017 close).
Open
₹84,570
per troy ounce
Close
₹84,017
per troy ounce
High
₹86,768
per troy ounce
Low
₹82,699
per troy ounce
All unit prices at March 2016 close — India
| Unit | Weight | Closing INR price |
|---|---|---|
| Troy ounce | 31.1035 g | ₹84,017 |
| Gram | 1.0000 g | ₹2,701 |
| 10 grams | 10 g | ₹27,012 |
| Kilogram | 1,000 g | ₹2,701,209 |
| Tola | 11.664 g | ₹31,507 |
Karat-purity breakdown at March 2016 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24K | ₹2,699 | ₹31,475 |
| 22KINDIA STD | ₹2,474 | ₹28,860 |
| 21K | ₹2,364 | ₹27,569 |
| 18K | ₹2,026 | ₹23,630 |
| 14K | ₹1,580 | ₹18,432 |
| 10K | ₹1,126 | ₹13,138 |
Daily gold price in INR — March 2016
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 — March 2016, India
₹84,570
$1,245.14/oz
₹84,166
$1,239.20/oz
₹84,920
$1,250.30/oz
₹86,768
$1,277.50/oz
₹86,482
$1,273.29/oz
₹86,116
$1,267.90/oz
₹86,055
$1,267.00/oz
₹84,655
$1,246.40/oz
₹86,021
$1,266.50/oz
₹85,905
$1,264.80/oz
₹85,658
$1,261.16/oz
₹84,411
$1,242.80/oz
₹83,677
$1,232.00/oz
₹83,440
$1,228.50/oz
₹86,021
$1,266.50/oz
₹85,043
$1,252.10/oz
₹85,317
$1,256.14/oz
₹84,554
$1,244.90/oz
₹85,070
$1,252.50/oz
₹82,699
$1,217.60/oz
₹82,930
$1,221.00/oz
₹82,930
$1,221.00/oz
₹83,079
$1,223.20/oz
₹82,930
$1,221.00/oz
₹83,270
$1,226.00/oz
₹83,969
$1,236.30/oz
₹84,017
$1,237.00/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 2016 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 March 2016 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 March 2016
What was the gold price in India in March 2016?
In March 2016, gold in India opened at ₹84,570/oz and closed at ₹84,017/oz — a move of -0.65% on the month. Per tola: ≈₹31,507; per gram: ≈₹2,701; per 10g: ≈₹27,012.
What was the 24K gold rate per tola in India in March 2016?
The 24K gold rate per tola in India at the March 2016 close was approximately ₹31,507, derived from international XAU/USD spot of $1,237.00/oz times the 2016-end INR/USD exchange rate of 67.92. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 22K gold rate per 10 grams in India in March 2016?
India's most-quoted retail standard is 22K per 10 grams. At the March 2016 close, that worked out to approximately ₹24,743 (22K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
INR prices on this page are computed from the verified international XAU/USD spot price for March 2016 (sourced from gold-api.com), multiplied by the 2016-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 2016-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 2016 archive or the USD-only March 2016 page with the country-by-country list at the bottom.
Other markets? Compare March 2016 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 2016-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.