Why the Gold Rate Changes Twice a Day in India

Why the Gold Rate Changes Twice a Day in India

If you check the gold rate at 10 AM and again at 6 PM, you will often see two different numbers - even though 'today's rate' sounds like it should be one figure. This is not an error. The IBJA (India Bullion and Jewellers Association) publishes the gold rate twice every working day, and understanding why helps you make smarter decisions about when to sell.

At a Glance

The IBJA Rate Publication Schedule

The IBJA publishes two gold rates on every MCX (Multi Commodity Exchange) working day:

• AM rate: published around 11:30 AM IST
• PM rate: published around 5:00 PM IST

These correspond roughly to the two London Bullion Market Association (LBMA) gold price fixings that occur daily - the AM fixing at ~1:30 PM IST and the PM fixing at ~7:30 PM IST.

The IBJA takes the international gold price, converts it to INR using the live USD/INR exchange rate, adds import duty (15%), AGIF cess (3%), and other levies - then publishes the resulting domestic benchmark rate.

Why the AM and PM Rates Differ

Between 11:30 AM and 5:00 PM, the international gold market continues to trade. Global events - US economic data releases, Federal Reserve commentary, geopolitical news, oil price movements - can move the gold price by $10–$30/oz between fixings.

Converted to INR at current rates:
• $10/oz change ≈ ₹1.08/g ≈ ₹10.8 per 10g
• $30/oz change ≈ ₹3.25/g ≈ ₹32.5 per 10g

For a seller with 100g of 22K gold:
• A ₹30/g difference between AM and PM = ₹3,000 on the total payout

This is why knowing which rate applies to your transaction matters.

Which Rate Applies When You Sell?

Does It Matter Which Rate You Get?

For most sellers, the AM vs PM difference is small and unpredictable. You cannot know whether the PM rate will be higher or lower than the AM rate - the gold market moves in both directions.

The better strategy: if today's rate (either fixing) is at a level you are happy with, sell. Waiting for the PM rate hoping it will be higher is a 50/50 bet.

To check the current published IBJA rate before visiting: go to ibja.co and look at the most recent rate and its published time.

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Frequently Asked Questions

Why does the gold rate update twice a day?

The IBJA follows two international gold price fixings (London AM and PM) and publishes domestic INR rates twice on each working day - at ~11:30 AM and ~5:00 PM IST.

Which gold rate applies when I sell - AM or PM?

The most recently published IBJA rate at the time you complete the transaction. Before 5 PM, the AM rate applies; after 5 PM, the PM rate.

Does the gold rate change significantly between morning and evening?

It can - differences of ₹50–₹300 per 10 grams are common depending on global market activity that day.

Should I sell in the morning or evening to get a better rate?

There is no reliable pattern. The PM rate can be higher or lower than the AM rate. Sell when the published rate is at a level you are comfortable with.

What rate applies on weekends?

The last published PM rate from the preceding working day.

Where can I check the current IBJA rate?

ibja.co - the official IBJA website, which shows the date and time of each published rate.

Does Attica Gold use the AM or PM rate?

We use the most recently published IBJA rate at the time of your transaction.