Gold rates in Andhra Pradesh
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
Gold investment remains a time-honored tradition. Despite the emergence of various other investment avenues, the allure of gold continues unabated. This persistent demand significantly influences the current gold rates in Andhra Pradesh.
The affection for gold in India is evident, with it being a popular adornment at weddings and other functions.
In recent times, there has been a notable rise in gold prices. For instance, in July 2020, they surpassed the 50,000 mark. Contributing factors like the pandemic and sluggish market conditions have fueled a surge in gold demand.
To gain a better understanding of the gold market, its prices, and relevant terms, it's crucial to explore the factors that impact gold prices.
Gold investment remains a time-honored tradition. Despite the emergence of various other investment avenues, the allure of gold continues unabated. This persistent demand significantly influences the current gold rates in Andhra Pradesh.
The affection for gold in India is evident, with it being a popular adornment at weddings and other functions.
In recent times, there has been a notable rise in gold prices. For instance, in July 2020, they surpassed the 50,000 mark. Contributing factors like the pandemic and sluggish market conditions have fueled a surge in gold demand.
To gain a better understanding of the gold market, its prices, and relevant terms, it's crucial to explore the factors that impact gold prices.
24K Gold Rates Per Gram in Andhra Pradesh
Grams
Today
Yesterday
02 years
₹15,000
₹4.1 Lakhs
05 years
₹15,000
₹12.4 Lakhs
10 years
₹15,000
₹34.9 Lakhs
15 years
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in Andhra Pradesh
24K Gold Rates Per Gram in Andhra Pradesh
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
₹15,000
8 Gram
₹15,000
₹12.4 Lakhs
₹15,000
10 Gram
₹15,000
₹34.9 Lakhs
₹15,000
12 Gram (1 Tola)
₹15,000
₹75.7 Lakhs
₹15,000
22K Gold Rates Per Gram in Andhra Pradesh
Grams
Today
Yesterday
1 Gram
₹15,000.00
₹15,000.00
8 Gram
₹15,000
₹15,000.00
10 Gram
₹15,000
₹15,000.00
12 Gram (1 Tola)
₹15,000
₹15,000.00
Factors Affecting Gold Rates in Andhra Pradesh
Determinants of Gold Prices in Andhra Pradesh:
The current gold rate in Andhra Pradesh is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Andhra Pradesh.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
Determinants of Gold Prices in Andhra Pradesh:
The current gold rate in Andhra Pradesh is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Andhra Pradesh.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305.00
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305.90
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
How is the purity of gold calculated in Andhra Pradesh?
In Andhra Pradesh, the gold rate and purity are determined according to the standards set by the Indian Bullion Association. It is mandatory for dealers to hallmark all gold products to indicate their purity.
The gold price in Andhra Pradesh is influenced by global market trends. Since India does not mine its gold, the direct impact of these market changes is somewhat mitigated.
Nevertheless, international factors continue to significantly influence the market, affecting the purchasing capabilities of gold importers and the broader public in India.
In Andhra Pradesh, the gold rate and purity are determined according to the standards set by the Indian Bullion Association. It is mandatory for dealers to hallmark all gold products to indicate their purity.
The gold price in Andhra Pradesh is influenced by global market trends. Since India does not mine its gold, the direct impact of these market changes is somewhat mitigated.
Nevertheless, international factors continue to significantly influence the market, affecting the purchasing capabilities of gold importers and the broader public in India.
Necessary Documentation for Gold Investment in Andhra Pradesh
Required Documentation for Gold Investment
When investing an amount of Rs. 2 lakhs or higher in gold, it's mandatory to present your PAN card along with proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), you need to set up both a brokerage account and a Demat account with the firm offering the ETFs.
Investing in SGBs (Sovereign Gold Bonds) and digital gold typically requires minimal paperwork and does not necessitate a Demat account.
For investment in gold-related mutual funds, opening a brokerage and a Demat account is essential.
Required Documentation for Gold Investment
When investing an amount of Rs. 2 lakhs or higher in gold, it's mandatory to present your PAN card along with proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), you need to set up both a brokerage account and a Demat account with the firm offering the ETFs.
Investing in SGBs (Sovereign Gold Bonds) and digital gold typically requires minimal paperwork and does not necessitate a Demat account.
For investment in gold-related mutual funds, opening a brokerage and a Demat account is essential.
Gold Rates in Top cities
CITY
22K Gold
24K Gold
Delhi
₹65,000
0.00%
₹65,000
0.00%
Kolkata
₹65,000
0.00%
₹65,000
0.00%
Mumbai
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Jaipur
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in Andhra Pradesh
When buying gold in Andhra Pradesh, pay attention to these important aspects:
Purity Levels:
Pure gold is 24K, but for practical use, it's often mixed with other metals for durability. Available options include 22K, 18K, and 14K gold.
Gold Price Per Gram:
Gold rates change daily and vary by location. Always check current rates, such as today's 22-carat and 18-carat gold rates per gram in Andhra Pradesh, before making a purchase.
Buy-Back Terms:
In fluctuating markets, it's crucial to deal with sellers offering fair buy-back terms at current market rates. Many sellers also offer gold buy-back or exchange based on weight, minus the making charges, which helps in securing the day’s gold rate.
Gold Certification:
The Bureau of Indian Standards certifies gold purity. For instance, the popular 916 hallmark indicates 91.6 grams of pure gold in every 100 grams, commonly referred to as 22K gold.
Making Charges:
The total cost of gold jewelry in Andhra Pradesh is higher than the day's 916 gold rate. The pricing formula is generally:
Final Jewelry :
Price = (Weight of Gold in Grams x 22-Carat Gold Rate in Andhra Pradesh) + (Making Charges, approx. 10-20% of Today’s Gold Rate) + (GST at 3% of the Purchase Price on the 916 Gold Rate).
When buying gold in Andhra Pradesh, pay attention to these important aspects:
Purity Levels:
Pure gold is 24K, but for practical use, it's often mixed with other metals for durability. Available options include 22K, 18K, and 14K gold.
Gold Price Per Gram:
Gold rates change daily and vary by location. Always check current rates, such as today's 22-carat and 18-carat gold rates per gram in Andhra Pradesh, before making a purchase.
Buy-Back Terms:
In fluctuating markets, it's crucial to deal with sellers offering fair buy-back terms at current market rates. Many sellers also offer gold buy-back or exchange based on weight, minus the making charges, which helps in securing the day’s gold rate.
Gold Certification:
The Bureau of Indian Standards certifies gold purity. For instance, the popular 916 hallmark indicates 91.6 grams of pure gold in every 100 grams, commonly referred to as 22K gold.
Making Charges:
The total cost of gold jewelry in Andhra Pradesh is higher than the day's 916 gold rate. The pricing formula is generally:
Final Jewelry :
Price = (Weight of Gold in Grams x 22-Carat Gold Rate in Andhra Pradesh) + (Making Charges, approx. 10-20% of Today’s Gold Rate) + (GST at 3% of the Purchase Price on the 916 Gold Rate).
FAQs on Gold Rates in Andhra Pradesh
Where can I find the current live gold price in Andhra Pradesh?
Live gold prices in Andhra Pradesh are available on financial news websites, gold trading apps, and at local jewelers.
Why do gold prices fluctuate daily in Andhra Pradesh?
Gold prices in Andhra Pradesh fluctuate due to global market trends, currency exchange rates, and local demand-supply dynamics.
Do gold prices in Andhra Pradesh vary from one city to another?
Yes, gold prices can slightly vary between different cities in Andhra Pradesh, influenced by local market factors.
How are festival seasons affecting gold prices in Andhra Pradesh?
Festival seasons usually see a rise in gold prices in Andhra Pradesh due to increased demand.
Can international market trends affect gold prices in Andhra Pradesh?
Yes, international market trends, including currency fluctuations and global demand, significantly impact gold prices in Andhra Pradesh.
Where can I find the current live gold price in Andhra Pradesh?
Live gold prices in Andhra Pradesh are available on financial news websites, gold trading apps, and at local jewelers.
Why do gold prices fluctuate daily in Andhra Pradesh?
Gold prices in Andhra Pradesh fluctuate due to global market trends, currency exchange rates, and local demand-supply dynamics.
Do gold prices in Andhra Pradesh vary from one city to another?
Yes, gold prices can slightly vary between different cities in Andhra Pradesh, influenced by local market factors.
How are festival seasons affecting gold prices in Andhra Pradesh?
Festival seasons usually see a rise in gold prices in Andhra Pradesh due to increased demand.
Can international market trends affect gold prices in Andhra Pradesh?
Yes, international market trends, including currency fluctuations and global demand, significantly impact gold prices in Andhra Pradesh.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹15,000.00
₹15,000.00
Mumbai
₹15,000
₹15,000.00
Chennai
₹15,000
₹15,000.00
Jaipur
₹15,000
₹15,000.00
Author
Harish Malhi
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