In India, the demand for gold is witnessing a steady rise. As an investment, the yellow metal is regarded as one of the best hedges against inflation. Gold can be held in paper, like gold ETFs and sovereign gold bonds, or physically i.e. as jewellery, gold bars and coins. Its rate varies across cities due to local market factors such as its supply and demand, state taxes and transportation charges (of physical gold). This article focuses on how lucrative gold investments are in the city of Indore and its rates over the recent months.
A number of factors have an impact on the gold rate in Indore. Here is a look at a few:
It is important for users to stay updated about the rate of gold, as even a small variation can cause a significant loss. The gold rates today are very high when compared to that of a decade ago. Prior to making a purchase, people are advised to compare the different rates charged by jewellers in the city. The bigger ones tend to charge higher in making charges.
If one wants to buy physical gold, all that the individual would have to do is go to a jewellery store and purchase gold jewellery and/or gold coins. Other than physical gold, users can buy gold ETFs. To buy gold ETFs, the individual can ask his or her broker to buy the same after opening a broking and trading account. Sovereign gold bonds are also listed, and people can buy them in the same manner as listed shares are bought.
A few factors to keep in mind before buying physical gold are as follows:
Level of purity: The purity of gold is measured and termed in Karats. The purest form available is 24 Karat (KT). However, this is too soft for making ornaments. Jewellers mostly use 14, 18 or 22 karat gold in their jewellery. The level of purity has a bearing on the rate of gold.
Making charges: An important element that has an impact on the gold rate is its making charges. Some jewellers fix it as a flat making charge per gram (of gold) or as a percentage of the gold value.
Hallmarking: It is advisable to check for BIS hallmark while buying physical gold. The Bureau of Indian Standards (BIS) has been set up by the government for ensuring that people do not get cheated while buying gold.
Trend of Gold Rate in Indore for September 2019
| Type | Period | Rs./10gm |
|---|---|---|
| Lowest gold price on | 15 Sep 2019 | Rs. 38,340 |
| Highest gold price on | 07 Sep 2019 | Rs. 40,189 |
| Gold price on | 01 Sep 2019 | Rs. 39,565 |
Source: GoldPriceIndia
Trend of Gold Rate in Tirunelveli for August 2019
| Type | Period | Rs./10gm |
|---|---|---|
| Lowest gold price on | 02 Aug 2019 | Rs. 35,506 |
| Highest gold price on | 28 Aug 2019 | Rs. 40,176 |
| Gold price on | 01 Aug 2019 | Rs. 35,791 |
| Gold price on | 31 Aug 2019 | Rs. 39,582 |
Source: GoldPriceIndia
Trend of Gold Rate in Tirunelveli for July 2019
| Type | Period | Rs./10gm |
|---|---|---|
| Lowest gold price on | 03 Jul 2019 | Rs. 34,353 |
| Highest gold price on | 26 Jul 2019 | Rs. 36,148 |
| Gold price on | 01 Jul 2019 | Rs. 34,931 |
| Gold price on | 31 Jul 2019 | Rs. 35,790 |
Source: GoldPriceIndia
Trend of Gold Rate in Tirunelveli for June 2019
| Type | Period | Rs./10gm |
|---|---|---|
| Lowest gold price on | 29 Jun 2019 | Rs. 34,871 |
| Highest gold price on | 28 Jun 2019 | Rs. 35,395 |
| Gold price on | 01 Jun 2019 | Rs. 32,602 |
| Gold price on | 30 Jun 2019 | Rs. 34,917 |
Source: GoldPriceIndia
The tax on gold, before the implementation of GST, was 1% service tax and 1% VAT. The GST now applicable on gold is 3%. There is also a tax of 5% levied on making charge.
A gold jewellery that has been hallmarked by the Bureau of Indian Standards will have the BIS logo. This logo is evidence that the purity of the gold has been verified at one of the bureau’s laboratories. However, it is important to note that the BIS hallmarking is not mandatory. Some offer their in-house hallmarking of jewellery. Before buying gold ornaments, it is recommended to check with the jewellers whether they offer BIS hallmarked ornaments.
The different ways by which a user can buy gold include:
Based on the points mentioned above, it can be concluded that gold is a lucrative investment option. Over a period of time, its returns shall be in line with the rate of inflation. Another reason why people prefer gold is because it is negatively correlated to equity investments. Gold forms an essential component of a diversified (investment) portfolio.
What is per gram Gold Rate in Indore?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,840 per 1 gram.
What is 10 gram Gold Rate in Indore?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 38,396 per 10 grams.
What is 100 grams Gold Rate in Indore?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,83,960 per 100 grams.
