Gold rates in Maharashtra
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, traditionally revered for its role in jewelry making, holds a place of considerable significance in cultural and investment contexts alike. Its auspicious nature, coupled with its embodiment of wealth and prosperity, has made it a cherished asset in India.
Gold is not just a symbol of affluence; it also represents a legacy, often passed down through generations, enriching family heritage with each transition. This metal's enduring value is evident in the way it interweaves through the fabric of Indian society, where it is much more than an adornment - it's a storied treasure.
While jewelry has been the conventional mode of gold ownership, the landscape of gold investment has evolved remarkably. Today, individuals looking to invest in gold have a plethora of options beyond physical gold.
These modern alternatives cater to a range of investment strategies and risk appetites, offering versatility to those who see gold not just as a symbol of tradition but also as a prudent financial asset.
Gold, traditionally revered for its role in jewelry making, holds a place of considerable significance in cultural and investment contexts alike. Its auspicious nature, coupled with its embodiment of wealth and prosperity, has made it a cherished asset in India.
Gold is not just a symbol of affluence; it also represents a legacy, often passed down through generations, enriching family heritage with each transition. This metal's enduring value is evident in the way it interweaves through the fabric of Indian society, where it is much more than an adornment - it's a storied treasure.
While jewelry has been the conventional mode of gold ownership, the landscape of gold investment has evolved remarkably. Today, individuals looking to invest in gold have a plethora of options beyond physical gold.
These modern alternatives cater to a range of investment strategies and risk appetites, offering versatility to those who see gold not just as a symbol of tradition but also as a prudent financial asset.
24K Gold Rates Per Gram in Maharashtra
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 Maharashtra
24K Gold Rates Per Gram in Maharashtra
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 Maharashtra
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 Maharastra
Several key elements have a direct impact on the fluctuating gold rates in Maharashtra, including:
Government Gold Reserves:
The Reserve Bank of India (RBI) manages the country's gold reserves. An increase in RBI's gold purchases often leads to higher gold prices, attributed to more cash circulating in the market and a reduced gold supply.
Inflation:
Gold is often seen as a hedge against inflation. Its value is compared to currency, making it a preferred investment during high inflation periods. Consequently, when inflation rates are high, the demand for gold typically increases, and the prices rise accordingly.
Jewellery Market:
The demand for gold in the jewelry market significantly influences its price. During festive seasons like Diwali, Akshaya Tritiya, and peak wedding times, gold demand surges, often outstripping supply. This demand-supply gap can lead to a hike in gold prices.
Global Movement:
International trends and movements in the gold market also affect the gold rates in Maharashtra. Any significant global change in gold prices is usually reflected in the local market.
Interest Rate Trends:
Interest rate fluctuations play a crucial role in determining gold prices. When interest rates rise, people are more inclined to sell gold for cash, increasing the metal's supply and potentially lowering its price. Conversely, lower interest rates mean more disposable income for consumers, which can boost gold demand and drive up prices.
Understanding these factors can provide valuable insights for anyone looking to invest in gold in Maharashtra, as they play a critical role in the market dynamics of this precious metal.
Several key elements have a direct impact on the fluctuating gold rates in Maharashtra, including:
Government Gold Reserves:
The Reserve Bank of India (RBI) manages the country's gold reserves. An increase in RBI's gold purchases often leads to higher gold prices, attributed to more cash circulating in the market and a reduced gold supply.
Inflation:
Gold is often seen as a hedge against inflation. Its value is compared to currency, making it a preferred investment during high inflation periods. Consequently, when inflation rates are high, the demand for gold typically increases, and the prices rise accordingly.
Jewellery Market:
The demand for gold in the jewelry market significantly influences its price. During festive seasons like Diwali, Akshaya Tritiya, and peak wedding times, gold demand surges, often outstripping supply. This demand-supply gap can lead to a hike in gold prices.
Global Movement:
International trends and movements in the gold market also affect the gold rates in Maharashtra. Any significant global change in gold prices is usually reflected in the local market.
Interest Rate Trends:
Interest rate fluctuations play a crucial role in determining gold prices. When interest rates rise, people are more inclined to sell gold for cash, increasing the metal's supply and potentially lowering its price. Conversely, lower interest rates mean more disposable income for consumers, which can boost gold demand and drive up prices.
Understanding these factors can provide valuable insights for anyone looking to invest in gold in Maharashtra, as they play a critical role in the market dynamics of this precious metal.
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 Maharashtra?
In Maharashtra, the valuation of gold, including its rate and purity, is governed by standards set by the Indian Bullion Association. This organization mandates that all gold dealers embed a hallmark symbol on their products, serving as a testament to the metal's purity.
The hallmarking system ensures that consumers receive standardized and verified quality gold. The pricing of gold in Maharashtra, akin to other regions, is influenced by a myriad of global market trends. These include shifts in international stock markets, geopolitical events, currency fluctuations, and global supply and demand dynamics.
Although India is not a gold-mining country, international factors play a pivotal role in shaping the country's gold market. The importers' buying power, along with that of the general populace, is significantly swayed by these global influences.
Factors such as international gold mining trends, economic policies of major gold-producing countries, and global economic health can impact gold prices in India. As a result, even though India is buffered from the direct effects of gold mining fluctuations, it remains susceptible to the broader global economic and market forces that dictate the price and availability of gold.
In Maharashtra, the valuation of gold, including its rate and purity, is governed by standards set by the Indian Bullion Association. This organization mandates that all gold dealers embed a hallmark symbol on their products, serving as a testament to the metal's purity.
The hallmarking system ensures that consumers receive standardized and verified quality gold. The pricing of gold in Maharashtra, akin to other regions, is influenced by a myriad of global market trends. These include shifts in international stock markets, geopolitical events, currency fluctuations, and global supply and demand dynamics.
Although India is not a gold-mining country, international factors play a pivotal role in shaping the country's gold market. The importers' buying power, along with that of the general populace, is significantly swayed by these global influences.
Factors such as international gold mining trends, economic policies of major gold-producing countries, and global economic health can impact gold prices in India. As a result, even though India is buffered from the direct effects of gold mining fluctuations, it remains susceptible to the broader global economic and market forces that dictate the price and availability of gold.
Necessary Documentation for Gold Investment in Maharashtra
Here's the list of Documents that are required to buy gold.
Physical Gold (coins, bars, jewelry):
No need for a brokerage or Demat account.
Important to keep the purchase invoice and BIS certification for authenticity.
Investments Over Rs. 2 Lakhs:
Mandatory to provide a PAN Card.
Required to have a valid ID with name and address (Voter ID, Passport, or Aadhar Card).
Gold Exchange-Traded Funds (ETFs):
Opening both a brokerage and a Demat account is required through the ETF's offering firm.
Sovereign Gold Bonds (SGBs) and Digital Gold:
Minimal paperwork involved.
No need for a Demat account.
Gold-Related Mutual Funds:
Necessary to set up both a brokerage and a Demat account.
Here's the list of Documents that are required to buy gold.
Physical Gold (coins, bars, jewelry):
No need for a brokerage or Demat account.
Important to keep the purchase invoice and BIS certification for authenticity.
Investments Over Rs. 2 Lakhs:
Mandatory to provide a PAN Card.
Required to have a valid ID with name and address (Voter ID, Passport, or Aadhar Card).
Gold Exchange-Traded Funds (ETFs):
Opening both a brokerage and a Demat account is required through the ETF's offering firm.
Sovereign Gold Bonds (SGBs) and Digital Gold:
Minimal paperwork involved.
No need for a Demat account.
Gold-Related Mutual Funds:
Necessary to set up both a brokerage and a Demat account.
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 Maharashtra
When engaging in trading or investing in gold in Maharashtra, it's important to be aware of several critical aspects:
Hallmark and Purity Levels:
Always verify the hallmark that certifies the gold's quality, including the company's logo and the BIS mark.
Understand purity levels, like the popular 916 gold, which indicates that every 100 grams of the item contains 91.6 grams of pure gold.
Gold Pricing per Gram:
Be aware that gold rates, such as the 24-carat gold rate in Maharashtra, change daily and can vary by location.
Always check the current rates and the specific type of gold you are considering.
Buy-Back Terms:
Many jewelers in Maharashtra offer buy-back terms, typically on a gram-to-gram basis, accounting for wastage and making charges.
This ensures that the value of your gold does not diminish significantly.
It's advisable to compare and check who offers the best buy-back deal.
When engaging in trading or investing in gold in Maharashtra, it's important to be aware of several critical aspects:
Hallmark and Purity Levels:
Always verify the hallmark that certifies the gold's quality, including the company's logo and the BIS mark.
Understand purity levels, like the popular 916 gold, which indicates that every 100 grams of the item contains 91.6 grams of pure gold.
Gold Pricing per Gram:
Be aware that gold rates, such as the 24-carat gold rate in Maharashtra, change daily and can vary by location.
Always check the current rates and the specific type of gold you are considering.
Buy-Back Terms:
Many jewelers in Maharashtra offer buy-back terms, typically on a gram-to-gram basis, accounting for wastage and making charges.
This ensures that the value of your gold does not diminish significantly.
It's advisable to compare and check who offers the best buy-back deal.
FAQs on Gold Rates in Maharashtra
How is the gold rate determined in Maharashtra?
The gold rate in Maharashtra is influenced by global market trends, assessed by the Indian Bullion Association, and includes factors like international stock market changes, currency fluctuations, and global demand.
What should I check for in terms of gold purity when buying in Maharashtra?
Ensure the gold is hallmarked, which certifies its purity. The hallmark includes a BIS mark and the purity level, like the popular 916 for 22-carat gold.
Do gold prices vary across different cities in Maharashtra?
Yes, gold prices can vary slightly across different cities in Maharashtra due to local market conditions and demand.
What are the implications of global factors on gold prices in Maharashtra?
Global factors such as geopolitical events, economic policies of gold-producing countries, and global supply and demand affect gold prices in Maharashtra, despite India not mining its gold.
Are there specific regulations for gold dealers in Maharashtra?
Yes, gold dealers in Maharashtra are required to follow standards set by the Indian Bullion Association, including hallmarking gold for purity verification.
How is the gold rate determined in Maharashtra?
The gold rate in Maharashtra is influenced by global market trends, assessed by the Indian Bullion Association, and includes factors like international stock market changes, currency fluctuations, and global demand.
What should I check for in terms of gold purity when buying in Maharashtra?
Ensure the gold is hallmarked, which certifies its purity. The hallmark includes a BIS mark and the purity level, like the popular 916 for 22-carat gold.
Do gold prices vary across different cities in Maharashtra?
Yes, gold prices can vary slightly across different cities in Maharashtra due to local market conditions and demand.
What are the implications of global factors on gold prices in Maharashtra?
Global factors such as geopolitical events, economic policies of gold-producing countries, and global supply and demand affect gold prices in Maharashtra, despite India not mining its gold.
Are there specific regulations for gold dealers in Maharashtra?
Yes, gold dealers in Maharashtra are required to follow standards set by the Indian Bullion Association, including hallmarking gold for purity verification.
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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