Know About Gold Price
24 Carat Gold
Gold is deemed to be in its purest form at 24 carats. Pure gold or 24 carat gold signifies 99.9 percent purity and it doesn’t contain any other metals. The 24 carat gold is used to make gold coins, bars, etc. Various other purities for gold also exist and are measured in relativity to 24 carats.
22 Carat Gold
The 22 carat purity gold is ideal for jewellery making. It is 22 parts gold and two parts silver, nickel or any other metal. The mixing of other metals makes gold more stiff and appropriate for jewellery. The 22 carat gold often reflects 91.67 of gold purity.
Gold Rate in Major Cities
Gold rates may vary from city to city based on various factors including demand, interests levied, octroi charges, state taxes, gold traders, bullion associations, transportation costs, making charges and other such.
Factors Affecting Gold Price in India
Gold is one of the most popular investment tools worldwide, especially in India. Like other financial assets, the price of gold also keeps fluctuating. While demand for gold is one of the key factors that determines its market price, a gamut of other factors have a role too. Find below some of the factors affecting daily gold rates.
Gold Buying Guide
Gold has been at the top of investor’s list for centuries now. One of the most popular forms of investments in India, it is considered as an important tool of financial security.
Besides the financial aspect, this yellow metal also holds religious and cultural significance in many a culture, factors which also add to its market value.
Although the modern markets are flooded with digital gold, the charm of physical gold stays intact.
However, investing in gold can be a tricky business and requires careful consideration of many factors. Here is an extensive buying guide that’ll help you with your next gold purchase.
Gold Purity
Purity of gold is one of the most important factors to be considered before gold shopping and is defined in terms of “Carats”, with 24K being the purest form. However, 24K gold is present in a malleable liquid form and needs to be mixed with other metals for sturdiness. For instance, 22k gold is a mix of 22 parts of gold, i.e. 91.6% and 2 parts of other metal alloys. The greater the level of purity, the more expensive gold is.
Gold Type
Physical gold can be bought in many forms- coins, bars, jewellery.
Genuine Gold Certification
In India, the purity of gold is certified by the Bureau of Indian Standard via hallmarking, defined as putting up marks on precious metals. It is advised to always go for hallmarked gold, for an assurance of purity, as well as, legality.
Gold Cost per gram
The price of gold keeps fluctuating depending upon the current market situation. Make sure that you keep a regular check on the gold prices from credible websites.
Although it’s not possible to accurately predict a surge or downfall in the prices of gold, you can keep in touch with jewellers for estimation. Also, make sure to get the gold weighed separately if you are planning to get it studded with other precious stones, to ensure accuracy in prices.
Buy Back Terms
“Making charges” refer to the cost of producing and designing any piece of gold jewellery. It is added to the final cost of the jewellery, before levying the Goods and Services Tax (GST).
While some jewellers have a fixed making charge that usually fluctuates between 8-16%, others may charge it based on a certain percentage of the total jewellery weight. These charges vary depending upon the design and whether the piece is man-made or machine-made.