Gold rates in Shillong
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 remains a classic and revered form of investment. Despite a wide array of alternative investment opportunities, the appeal of gold continues to shine brightly. Its demand significantly influences the gold prices in Shillong. Gold is a cherished asset in Indian culture, often selected for adornment at weddings and various celebrations.
Consult this article to discover the live gold rates in Shillong today.
Investing in gold remains a classic and revered form of investment. Despite a wide array of alternative investment opportunities, the appeal of gold continues to shine brightly. Its demand significantly influences the gold prices in Shillong. Gold is a cherished asset in Indian culture, often selected for adornment at weddings and various celebrations.
Consult this article to discover the live gold rates in Shillong today.
24K Gold Rates Per Gram in Shillong
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 inShillong
24K Gold Rates Per Gram in Shillong
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 inShillong
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 Shillong
Key Drivers Behind Gold Price Variations:
Demand and Supply Dynamics:
The balance between demand and supply plays a crucial role in shaping the gold rates in Shillong. A scenario of high demand versus low supply typically results in higher gold prices in the region.
Interest Rate Influence:
The pricing of gold is closely linked to interest rates, showing an inverse correlation. An increase in interest rates tends to lead to a decrease in gold purchasing, impacting gold prices negatively.
Jewelry Market Demand:
The significant use of gold in jewelry for weddings and other celebrations in India leads to a substantial stock of gold jewelry, particularly evident in traditional settings.
Impact of Inflation:
Inflation, characterized by rising prices and currency devaluation, positions gold as an attractive hedge, maintaining its value over time and underscoring its appeal as an investment.
Government Gold Reserves:
The management of gold reserves by the Indian government, through transactions executed by The Reserve Bank of India, influences gold prices to fluctuate based on the volume and pricing of the transactions.
Currency Exchange Rate Effects:
Since gold is internationally priced in USD, fluctuations in the USD to INR exchange rate directly influence the cost of importing gold, affecting domestic gold prices through variations in import and selling prices.
Import Duty Impact:
Despite India's minor contribution to global gold production, the high demand for gold in Shillong, coupled with India's status as one of the largest gold consumers globally, means that import duties significantly influence the retail price of gold daily.
Key Drivers Behind Gold Price Variations:
Demand and Supply Dynamics:
The balance between demand and supply plays a crucial role in shaping the gold rates in Shillong. A scenario of high demand versus low supply typically results in higher gold prices in the region.
Interest Rate Influence:
The pricing of gold is closely linked to interest rates, showing an inverse correlation. An increase in interest rates tends to lead to a decrease in gold purchasing, impacting gold prices negatively.
Jewelry Market Demand:
The significant use of gold in jewelry for weddings and other celebrations in India leads to a substantial stock of gold jewelry, particularly evident in traditional settings.
Impact of Inflation:
Inflation, characterized by rising prices and currency devaluation, positions gold as an attractive hedge, maintaining its value over time and underscoring its appeal as an investment.
Government Gold Reserves:
The management of gold reserves by the Indian government, through transactions executed by The Reserve Bank of India, influences gold prices to fluctuate based on the volume and pricing of the transactions.
Currency Exchange Rate Effects:
Since gold is internationally priced in USD, fluctuations in the USD to INR exchange rate directly influence the cost of importing gold, affecting domestic gold prices through variations in import and selling prices.
Import Duty Impact:
Despite India's minor contribution to global gold production, the high demand for gold in Shillong, coupled with India's status as one of the largest gold consumers globally, means that import duties significantly influence 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 Shillong
Evaluating Gold Purity in Shillong:
In Shillong, the regulation of gold purity and its pricing is overseen by the Indian Bullion Association, which requires all gold products to be hallmarked as a certification of their purity.
As with various regions, the cost of gold in Shillong is influenced by the trends in the international market.
With India not engaging in gold mining, shifts in the global markets considerably impact the purchasing capabilities of both importers and the broader community in Shillong, influencing their access to gold.
Evaluating Gold Purity in Shillong:
In Shillong, the regulation of gold purity and its pricing is overseen by the Indian Bullion Association, which requires all gold products to be hallmarked as a certification of their purity.
As with various regions, the cost of gold in Shillong is influenced by the trends in the international market.
With India not engaging in gold mining, shifts in the global markets considerably impact the purchasing capabilities of both importers and the broader community in Shillong, influencing their access to gold.
Necessary Documentation for Gold Investment in Shillong
Required Documentation for Gold Investment:
For investments exceeding Rs. 2 lakhs, presenting a PAN card along with another form of address verification is mandatory.
To invest in Gold ETFs (Exchange-Traded Funds), opening both a brokerage and a Demat account with the firm offering the ETFs is necessary.
Engaging in SGBs (Sovereign Gold Bonds), digital gold, and similar investments typically requires minimal documentation and does not necessitate a Demat account.
Investing in gold mutual funds requires the setup of both a brokerage and a Demat account.
Required Documentation for Gold Investment:
For investments exceeding Rs. 2 lakhs, presenting a PAN card along with another form of address verification is mandatory.
To invest in Gold ETFs (Exchange-Traded Funds), opening both a brokerage and a Demat account with the firm offering the ETFs is necessary.
Engaging in SGBs (Sovereign Gold Bonds), digital gold, and similar investments typically requires minimal documentation and does not necessitate a Demat account.
Investing in gold mutual funds requires the setup of 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 Shillong
Essential Considerations When Purchasing Gold in Shillong:
Purity Levels:
Pure gold is identified as 24K; however, due to its softness, it's often alloyed with other metals for durability, resulting in gold of 22K, 18K, and 14K purity.
Price Per Gram:
The cost of gold varies not just daily but also by location. Before purchasing, it's crucial to verify the current 22-carat and 18-carat gold prices per gram in Shillong to ensure you're getting a fair deal.
Buy-Back Terms:
It's important to choose sellers who offer clear buy-back terms at market rates, especially in a fluctuating market. Look for sellers who will buy or exchange gold, deducting only the making charges, to secure the best value.
Certification:
Ensure the gold you buy is certified for purity by the Bureau of Indian Standards. The widely recognized 916 hallmark indicates 91.6% purity, equivalent to 22K gold, guaranteeing the quality of your purchase.
Making Charges:
Be aware that the total cost of jewelry in Shillong will exceed the current 916 gold rate due to making charges. To calculate the final price, add making charges (approximately 10 to 20% of the current gold rate) and GST at 3% to the base price determined by the gold's weight and the 22-carat rate.
By paying attention to these factors, you can make an informed and secure gold purchase in Shillong, whether for investment or as a valuable addition to your jewelry collection.
Essential Considerations When Purchasing Gold in Shillong:
Purity Levels:
Pure gold is identified as 24K; however, due to its softness, it's often alloyed with other metals for durability, resulting in gold of 22K, 18K, and 14K purity.
Price Per Gram:
The cost of gold varies not just daily but also by location. Before purchasing, it's crucial to verify the current 22-carat and 18-carat gold prices per gram in Shillong to ensure you're getting a fair deal.
Buy-Back Terms:
It's important to choose sellers who offer clear buy-back terms at market rates, especially in a fluctuating market. Look for sellers who will buy or exchange gold, deducting only the making charges, to secure the best value.
Certification:
Ensure the gold you buy is certified for purity by the Bureau of Indian Standards. The widely recognized 916 hallmark indicates 91.6% purity, equivalent to 22K gold, guaranteeing the quality of your purchase.
Making Charges:
Be aware that the total cost of jewelry in Shillong will exceed the current 916 gold rate due to making charges. To calculate the final price, add making charges (approximately 10 to 20% of the current gold rate) and GST at 3% to the base price determined by the gold's weight and the 22-carat rate.
By paying attention to these factors, you can make an informed and secure gold purchase in Shillong, whether for investment or as a valuable addition to your jewelry collection.
FAQs on Gold Rates in Bhopal
What is the current live gold price in Shillong?
The live gold price in Shillong changes daily; for the most accurate and current rate, check with reputable financial news websites or local jewelers.
How often do gold prices fluctuate in Shillong?
Gold prices in Shillong can fluctuate several times throughout the day based on global market trends and local demand factors.
What factors influence the gold price in Shillong?
The gold price in Shillong is influenced by international gold market trends, the INR-USD exchange rate, local demand, especially during festive and wedding seasons, and import costs.
Where can I find reliable gold prices for Shillong?
Reliable gold prices for Shillong can be found on well-known financial websites, gold price tracking applications, or by visiting reputable jewelers in the area.
Can the gold price vary between different jewelers in Shillong?
Yes, while the base rate for gold might be similar, additional costs such as making charges and GST can lead to slight price variations among different jewelers in Shillong.
What is the current live gold price in Shillong?
The live gold price in Shillong changes daily; for the most accurate and current rate, check with reputable financial news websites or local jewelers.
How often do gold prices fluctuate in Shillong?
Gold prices in Shillong can fluctuate several times throughout the day based on global market trends and local demand factors.
What factors influence the gold price in Shillong?
The gold price in Shillong is influenced by international gold market trends, the INR-USD exchange rate, local demand, especially during festive and wedding seasons, and import costs.
Where can I find reliable gold prices for Shillong?
Reliable gold prices for Shillong can be found on well-known financial websites, gold price tracking applications, or by visiting reputable jewelers in the area.
Can the gold price vary between different jewelers in Shillong?
Yes, while the base rate for gold might be similar, additional costs such as making charges and GST can lead to slight price variations among different jewelers in Shillong.
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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