IBJA
IGM
Benchmark Price Private Limited

India's Trusted Benchmark for
Gold Pricing

Setting the definitive gold price reference for India — transparent, reliable, and trusted by the nation's Gold Value Chain.

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IBJA
Who We Are

The Gold Standard
for India's Bullion
Market

IBJA-IGM Benchmark Price Private Limited is a joint initiative established to provide an authoritative, transparent, and credible daily gold price benchmark for India.

Born from the collaboration of India's foremost bullion trade body and a leading gold refining institution, we serve as the definitive pricing reference point for the Indian gold market — enabling fair trade, standardisation, and trust across the entire value chain.

Publishing a daily, transparent gold price benchmark for India
Enabling fair valuation across jewellers, refiners, banks, and institutions
Promoting standardisation and integrity in India's bullion ecosystem
Serving as a credible domestic reference for gold-linked financial instruments
2×
Daily Fixings
Morning and afternoon price discovery sessions providing benchmark rates for the trade.
995
Purity Standard
Benchmark prices quoted for gold of the highest internationally recognised purity.
INR
Domestic Currency
A rupee-denominated benchmark — built for India, by India, reflecting true domestic market conditions.
100%
Transparency Driven
Governed by a robust methodology and oversight framework to ensure integrity and market confidence.
The Benchmark Process

How the Price is Determined

A rigorous, governed process — designed for accuracy, fairness, and transparency.

01
Participant Submissions
Eligible market participants submit their price inputs within a defined window each session.
02
Price Calculation
Submissions are aggregated using a defined, rules-based methodology to arrive at a single benchmark price.
03
Validation & Oversight
The computed price undergoes independent validation and governance checks before publication.
04
Published Benchmark
The final IBJA-IGM benchmark price is published and made available to the market.
Detailed Documentation
Download our full Benchmark Methodology document
Download PDF
Why IBJA-IGM

Built on Trust,
Designed for India

A benchmark is only as strong as the institution behind it. IBJA-IGM brings together decades of market expertise, institutional credibility, and an unwavering commitment to integrity.
01
Institutional Credibility
Backed by India's most respected names in the bullion trade — ensuring a benchmark the market can truly rely on.
02
Real-Time Relevance
Two daily fixings that capture evolving market conditions and provide timely, actionable price references.
03
Governed & Independent
Robust oversight and governance mechanisms ensure the benchmark remains free from bias or manipulation.
04
Made for India
A rupee-denominated benchmark reflecting true domestic supply, demand, and market sentiment — not a mere conversion of global prices.
05
Full Transparency
Clear methodology, published rules, and open documentation so every stakeholder understands exactly how the price is formed.
06
Broad Market Utility
Useful across jewellers, refiners, financial institutions, and gold-linked instruments — a single reference for the entire ecosystem.
IBJA
Get in Touch

We'd Love to
Hear from You

Whether you're a market participant, institution, or simply wish to learn more — our team is here to assist.

Contact Person
Samir Jayaswal
Registered Office
4th Floor, FT Tower, CTS No. 256 & 257, Suren Road, Chakala MIDC, Andheri (E), Mumbai - 400093, Maharashtra, India
Ready to connect?
Your Gateway to India's Gold Benchmark

For enquiries on benchmark participation, data licensing, media, or any other matter — reach out directly to our team. We respond within 2 business days.

+91 95945 11110
info@ibja-igm.com