Gold rates in Gangtok
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%)
Investing in gold has always been a favored tradition. Despite the presence of numerous other investment choices, the appeal of gold remains undiminished.
Its demand significantly influences the gold prices in Gangtok. Gold is highly cherished in India, often adorned during weddings and various ceremonies.
Explore this article to discover the live gold rates in Gangtok today.
Investing in gold has always been a favored tradition. Despite the presence of numerous other investment choices, the appeal of gold remains undiminished.
Its demand significantly influences the gold prices in Gangtok. Gold is highly cherished in India, often adorned during weddings and various ceremonies.
Explore this article to discover the live gold rates in Gangtok today.
24K Gold Rates Per Gram in Gangtok
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 Gangtok
24K Gold Rates Per Gram in Gangtok
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 Gangtok
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 Gangtok
Key Elements Influencing the Variability of Gold Prices:
Demand and Supply Dynamics:
The balance between demand and supply plays a crucial role in shaping the gold rates in Gangtok. A surge in demand coupled with a constrained supply often results in rising gold prices in the area.
Interest Rate Correlation:
The pricing of gold is closely linked to interest rates, exhibiting an inverse relationship. As interest rates climb, the allure of purchasing gold diminishes, leading to decreased buying activity.
Jewelry Market Demand:
Gold jewelry is extensively used in India for weddings and other celebrations, leading to significant holdings of gold jewelry, especially in traditional settings.
Inflation's Impact:
Inflation, characterized by increasing rates and subsequent currency devaluation, positions gold as an effective hedge against these economic shifts, maintaining its value over time.
Government Gold Reserves:
The Indian government's management of gold reserves, through transactions by The Reserve Bank of India, influences gold prices to fluctuate based on the government's trading activities.
Exchange Rate Fluctuations:
As gold prices on the international market are denominated in USD, changes in the USD to INR exchange rate directly affect the cost of importing gold, leading to variations in domestic gold prices.
Import Duty Considerations:
Despite India's minimal contribution to global gold production, the demand for gold in Gangtok, and across India, being one of the largest gold consumers globally, means that import duties significantly impact the retail price of gold on a daily basis.
Key Elements Influencing the Variability of Gold Prices:
Demand and Supply Dynamics:
The balance between demand and supply plays a crucial role in shaping the gold rates in Gangtok. A surge in demand coupled with a constrained supply often results in rising gold prices in the area.
Interest Rate Correlation:
The pricing of gold is closely linked to interest rates, exhibiting an inverse relationship. As interest rates climb, the allure of purchasing gold diminishes, leading to decreased buying activity.
Jewelry Market Demand:
Gold jewelry is extensively used in India for weddings and other celebrations, leading to significant holdings of gold jewelry, especially in traditional settings.
Inflation's Impact:
Inflation, characterized by increasing rates and subsequent currency devaluation, positions gold as an effective hedge against these economic shifts, maintaining its value over time.
Government Gold Reserves:
The Indian government's management of gold reserves, through transactions by The Reserve Bank of India, influences gold prices to fluctuate based on the government's trading activities.
Exchange Rate Fluctuations:
As gold prices on the international market are denominated in USD, changes in the USD to INR exchange rate directly affect the cost of importing gold, leading to variations in domestic gold prices.
Import Duty Considerations:
Despite India's minimal contribution to global gold production, the demand for gold in Gangtok, and across India, being one of the largest gold consumers globally, means that import duties significantly impact the retail price of gold on a daily basis.
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 Gangtok
Assessing Gold Purity in Gangtok:
In Gangtok, the Indian Bullion Association regulates the assessment of gold purity and pricing, mandating that all gold items carry a hallmark for purity authentication.
Similar to other areas, the price of gold in Gangtok is shaped by global market fluctuations.
Given that India does not mine gold domestically, international market variations significantly influence the buying power of both importers and the general populace in Gangtok, affecting their ability to acquire gold.
Assessing Gold Purity in Gangtok:
In Gangtok, the Indian Bullion Association regulates the assessment of gold purity and pricing, mandating that all gold items carry a hallmark for purity authentication.
Similar to other areas, the price of gold in Gangtok is shaped by global market fluctuations.
Given that India does not mine gold domestically, international market variations significantly influence the buying power of both importers and the general populace in Gangtok, affecting their ability to acquire gold.
Necessary Documentation for Gold Investment in Gangtok
Required Documents for Gold Investment:
For investments exceeding Rs. 2 lakhs, a PAN card along with another form of address verification is necessary.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the opening of both a brokerage and a Demat account with the entity offering the ETFs.
Engaging in SGBs (Sovereign Gold Bonds), digital gold, and similar investments typically involves minimal documentation and does not require a Demat account.
For gold mutual funds, setting up both a brokerage and a Demat account is essential.
Required Documents for Gold Investment:
For investments exceeding Rs. 2 lakhs, a PAN card along with another form of address verification is necessary.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the opening of both a brokerage and a Demat account with the entity offering the ETFs.
Engaging in SGBs (Sovereign Gold Bonds), digital gold, and similar investments typically involves minimal documentation and does not require a Demat account.
For gold mutual funds, setting up both 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 Gangtok
Essential Considerations When Purchasing Gold in Gangtok:
Purity Grades:
24K gold represents pure gold, but due to its softness, it's typically alloyed with other metals, leading to the creation of 22K, 18K, and 14K gold variations.
Price Per Gram:
The cost of gold varies not just daily but also from one location to another. It's crucial to verify the current 22-carat and 18-carat gold prices per gram in Gangtok before making a purchase.
Buy-Back Policies:
With the gold market's ever-changing nature, selecting sellers who offer guaranteed buy-back terms at market rates is important. Many also offer gold buybacks or exchanges, deducting only the making charges, to ensure today's gold rates are secured.
Gold Certification:
Gold purity in Gangtok is certified by the Bureau of Indian Standards. The widely recognized 916 hallmark indicates a gold purity of 91.6%, known as 22K gold.
Manufacturing Charges:
The total cost of gold jewelry in Gangtok typically exceeds the current 916 gold rate due to additional making charges. To calculate the final price of jewelry, multiply the gold's weight in grams by the 22-carat rate in Gangtok, add making charges (approximately 10 to 20% of the current gold rate), and include GST at 3% based on today's 916 gold rate.
Essential Considerations When Purchasing Gold in Gangtok:
Purity Grades:
24K gold represents pure gold, but due to its softness, it's typically alloyed with other metals, leading to the creation of 22K, 18K, and 14K gold variations.
Price Per Gram:
The cost of gold varies not just daily but also from one location to another. It's crucial to verify the current 22-carat and 18-carat gold prices per gram in Gangtok before making a purchase.
Buy-Back Policies:
With the gold market's ever-changing nature, selecting sellers who offer guaranteed buy-back terms at market rates is important. Many also offer gold buybacks or exchanges, deducting only the making charges, to ensure today's gold rates are secured.
Gold Certification:
Gold purity in Gangtok is certified by the Bureau of Indian Standards. The widely recognized 916 hallmark indicates a gold purity of 91.6%, known as 22K gold.
Manufacturing Charges:
The total cost of gold jewelry in Gangtok typically exceeds the current 916 gold rate due to additional making charges. To calculate the final price of jewelry, multiply the gold's weight in grams by the 22-carat rate in Gangtok, add making charges (approximately 10 to 20% of the current gold rate), and include GST at 3% based on today's 916 gold rate.
FAQs on Gold Rates in Bhopal
What is the current live gold rate in Gangtok?
The live gold rate in Gangtok changes daily; consult a reliable financial website or local jeweler for the most recent rates.
How frequently do gold prices change in Gangtok?
Gold prices in Gangtok can fluctuate throughout the day based on global market conditions and local demand.
What factors affect the gold rate in Gangtok?
The gold rate in Gangtok is influenced by international gold prices, the USD-INR exchange rate, local demand, and market dynamics.
Where can I find accurate gold rates for Gangtok?
Accurate and current gold rates for Gangtok can be found on reputable financial news platforms, gold price tracking apps, or by visiting established jewelers in the city.
Do gold rates vary among different jewelers in Gangtok?
While the base rate for gold might be similar, additional charges such as making charges and GST can cause slight variations in prices among different jewelers in Gangtok.
What is the current live gold rate in Gangtok?
The live gold rate in Gangtok changes daily; consult a reliable financial website or local jeweler for the most recent rates.
How frequently do gold prices change in Gangtok?
Gold prices in Gangtok can fluctuate throughout the day based on global market conditions and local demand.
What factors affect the gold rate in Gangtok?
The gold rate in Gangtok is influenced by international gold prices, the USD-INR exchange rate, local demand, and market dynamics.
Where can I find accurate gold rates for Gangtok?
Accurate and current gold rates for Gangtok can be found on reputable financial news platforms, gold price tracking apps, or by visiting established jewelers in the city.
Do gold rates vary among different jewelers in Gangtok?
While the base rate for gold might be similar, additional charges such as making charges and GST can cause slight variations in prices among different jewelers in Gangtok.
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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