Gold rates in Gandhinagar
24K Gold / 10gm
10th Oct '24
₹69,000.00
22K Gold / 10gm
10th Oct '24
₹69,000.00
Investing in gold remains a time-honored tradition. Despite a plethora of alternative investment opportunities, the allure of gold continues unabated.
The price of gold in Gandhinagar is propelled by its enduring demand. In India, gold is not just a precious metal but a cherished part of celebrations, prominently featured in weddings and festivities.
Explore this article for the latest updates on the live gold rate in Gandhinagar today.
Investing in gold remains a time-honored tradition. Despite a plethora of alternative investment opportunities, the allure of gold continues unabated.
The price of gold in Gandhinagar is propelled by its enduring demand. In India, gold is not just a precious metal but a cherished part of celebrations, prominently featured in weddings and festivities.
Explore this article for the latest updates on the live gold rate in Gandhinagar today.
24K Gold Rates Per Gram in Gandhinagar
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
8 Gram
₹15,000
₹12.4 Lakhs
10 Gram
₹15,000
₹34.9 Lakhs
12 Gram
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in Gandhinagar
24K Gold Rates Per Gram in Gandhinagar
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 Gandhinagar
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 Gandhinagar
Key Influences on Gold Price Variability Include:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts the current gold rates in Gandhinagar. An increase in demand coupled with a decrease in supply typically results in higher gold prices in the area.
Interest Rate Dependency:
The pricing of gold has an inverse relationship with interest rates. As interest rates rise, the appeal of purchasing gold tends to diminish, leading to a decrease in gold buying.
Jewelry Market Demand:
In India, gold jewelry is a staple for weddings and numerous celebrations, leading to significant stocks of gold jewelry, particularly in traditional settings.
Inflation's Impact:
With the increase in inflation, there's a corresponding decrease in currency value, making gold an attractive hedge against the inflationary devaluation of the rupee, hence the sustained investment in gold.
Government Gold Reserves:
The Indian government's management of gold reserves, through buying and selling activities by The Reserve Bank of India, plays a crucial role in the fluctuation of gold prices based on the volume and price of gold transacted by the government.
Currency Exchange Rate Effects:
As gold prices on international markets are denominated in USD, fluctuations in the USD to INR exchange rate directly influence the import costs of gold, affecting prices in Gandhinagar through variations in import and selling prices.
Import Duty Influence:
Despite contributing less than 1% to global gold production, the high demand for gold in Gandhinagar and across India, being the world's second-largest gold consumer, means that import duties significantly impact the retail price of gold daily.
Key Influences on Gold Price Variability Include:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts the current gold rates in Gandhinagar. An increase in demand coupled with a decrease in supply typically results in higher gold prices in the area.
Interest Rate Dependency:
The pricing of gold has an inverse relationship with interest rates. As interest rates rise, the appeal of purchasing gold tends to diminish, leading to a decrease in gold buying.
Jewelry Market Demand:
In India, gold jewelry is a staple for weddings and numerous celebrations, leading to significant stocks of gold jewelry, particularly in traditional settings.
Inflation's Impact:
With the increase in inflation, there's a corresponding decrease in currency value, making gold an attractive hedge against the inflationary devaluation of the rupee, hence the sustained investment in gold.
Government Gold Reserves:
The Indian government's management of gold reserves, through buying and selling activities by The Reserve Bank of India, plays a crucial role in the fluctuation of gold prices based on the volume and price of gold transacted by the government.
Currency Exchange Rate Effects:
As gold prices on international markets are denominated in USD, fluctuations in the USD to INR exchange rate directly influence the import costs of gold, affecting prices in Gandhinagar through variations in import and selling prices.
Import Duty Influence:
Despite contributing less than 1% to global gold production, the high demand for gold in Gandhinagar and across India, being the world's second-largest gold consumer, means that import duties significantly impact the retail price of gold daily.
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 Gandhinagar?
Evaluating Gold Purity in Gandhinagar:
In Gandhinagar, the determination of gold rates and purity is regulated by the Indian Bullion Association, mandating the inclusion of a hallmark on all gold products to indicate their purity.
As with various other places, the pricing of gold in Gandhinagar is influenced by global market movements. Even though India does not extract its gold, the international market's volatility greatly affects the buying power of both the importers and the wider community in Gandhinagar
Evaluating Gold Purity in Gandhinagar:
In Gandhinagar, the determination of gold rates and purity is regulated by the Indian Bullion Association, mandating the inclusion of a hallmark on all gold products to indicate their purity.
As with various other places, the pricing of gold in Gandhinagar is influenced by global market movements. Even though India does not extract its gold, the international market's volatility greatly affects the buying power of both the importers and the wider community in Gandhinagar
Necessary Documentation for Gold Investment in Gandhinagar
Required Documentation for Gold Investment:
For investments totaling Rs. 2 lakhs or above, presenting a PAN card along with a document for address verification is necessary.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the creation of both a brokerage and a Demat account through the firm offering the ETFs.
When opting for SGBs (Sovereign Gold Bonds) or digital gold investments, the process involves minimal documentation and does not require a Demat account.
For investing in gold mutual funds, setting up a brokerage and Demat account is essential.
Required Documentation for Gold Investment:
For investments totaling Rs. 2 lakhs or above, presenting a PAN card along with a document for address verification is necessary.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the creation of both a brokerage and a Demat account through the firm offering the ETFs.
When opting for SGBs (Sovereign Gold Bonds) or digital gold investments, the process involves minimal documentation and does not require a Demat account.
For investing in gold mutual funds, setting up a brokerage and 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%
Hyderabad
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Pune
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in Gandhinagar
Essential Aspects to Consider When Purchasing Gold in Gandhinagar:
Purity Grades:
Although 24K gold is considered pure gold, its lack of malleability requires it to be alloyed with other metals, resulting in gold varieties such as 22K, 18K, and 14K.
Gold Price per Gram:
The cost of gold varies daily and by location. It's essential to verify current prices, such as today's 22-carat and 18-carat gold price per gram in Gandhinagar, before making a purchase.
Buy-back Policies:
In the ever-changing market, selecting vendors who offer clear buy-back policies at the current market rates is crucial. Many also offer to sell or exchange gold based on its weight, minus the making charges, to secure the day's gold rates.
Gold Certification:
The Bureau of Indian Standards oversees the certification of gold's purity in Gandhinagar. The widely recognized 916 hallmark signifies that for every 100 grams of the alloy, 91.6 grams are pure gold, equivalent to 22K gold.
Manufacturing Charges:
The retail price of jewelry in Gandhinagar often exceeds the current 916 gold rate due to added making charges. This is calculated by multiplying the gold's weight in grams by the 22-carat rate in Gandhinagar, adding approximately 10 to 20% of today's gold rate in Gandhinagar for making charges, plus GST at 3% based on the 916 rate today.
Essential Aspects to Consider When Purchasing Gold in Gandhinagar:
Purity Grades:
Although 24K gold is considered pure gold, its lack of malleability requires it to be alloyed with other metals, resulting in gold varieties such as 22K, 18K, and 14K.
Gold Price per Gram:
The cost of gold varies daily and by location. It's essential to verify current prices, such as today's 22-carat and 18-carat gold price per gram in Gandhinagar, before making a purchase.
Buy-back Policies:
In the ever-changing market, selecting vendors who offer clear buy-back policies at the current market rates is crucial. Many also offer to sell or exchange gold based on its weight, minus the making charges, to secure the day's gold rates.
Gold Certification:
The Bureau of Indian Standards oversees the certification of gold's purity in Gandhinagar. The widely recognized 916 hallmark signifies that for every 100 grams of the alloy, 91.6 grams are pure gold, equivalent to 22K gold.
Manufacturing Charges:
The retail price of jewelry in Gandhinagar often exceeds the current 916 gold rate due to added making charges. This is calculated by multiplying the gold's weight in grams by the 22-carat rate in Gandhinagar, adding approximately 10 to 20% of today's gold rate in Gandhinagar for making charges, plus GST at 3% based on the 916 rate today.
FAQs on Gold Rates in Gandhinagar
What is the current live gold rate in Gandhinagar?
The live gold rate in Gandhinagar changes daily, so it's best to check the latest rates on a reputable financial news website or at local jewelers.
How often do gold rates change in Gandhinagar?
Gold rates in Gandhinagar can fluctuate throughout the day based on international market conditions.
What factors influence the gold rate in Gandhinagar?
The gold rate in Gandhinagar is influenced by international gold prices, currency exchange rates, demand and supply dynamics, and local market conditions.
Where can I find the most accurate gold rates for Gandhinagar?
Accurate gold rates for Gandhinagar can be found on financial websites, apps dedicated to gold prices, or directly from reputable jewelers in the city.
Are the gold rates the same across all jewelers in Gandhinagar?
While the base gold rate might be similar, additional charges like making charges and GST may vary slightly among different jewelers in Gandhinagar.
What is the current live gold rate in Gandhinagar?
The live gold rate in Gandhinagar changes daily, so it's best to check the latest rates on a reputable financial news website or at local jewelers.
How often do gold rates change in Gandhinagar?
Gold rates in Gandhinagar can fluctuate throughout the day based on international market conditions.
What factors influence the gold rate in Gandhinagar?
The gold rate in Gandhinagar is influenced by international gold prices, currency exchange rates, demand and supply dynamics, and local market conditions.
Where can I find the most accurate gold rates for Gandhinagar?
Accurate gold rates for Gandhinagar can be found on financial websites, apps dedicated to gold prices, or directly from reputable jewelers in the city.
Are the gold rates the same across all jewelers in Gandhinagar?
While the base gold rate might be similar, additional charges like making charges and GST may vary slightly among different jewelers in Gandhinagar.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹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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