Gold rates in Shimla
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 time-honored tradition. The presence of various other investment opportunities hasn't lessened the appeal of gold. Its demand significantly influences the gold prices in Shimla.
Gold is highly valued in Indian culture, often showcased at weddings and other ceremonial events.
Explore this article to find out the live gold rates in Shimla today.
Investing in gold remains a time-honored tradition. The presence of various other investment opportunities hasn't lessened the appeal of gold. Its demand significantly influences the gold prices in Shimla.
Gold is highly valued in Indian culture, often showcased at weddings and other ceremonial events.
Explore this article to find out the live gold rates in Shimla today.
24K Gold Rates Per Gram in Bhopal
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 Bhopal
24K Gold Rates Per Gram in Bhopal
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 Bhopal
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 Bhopal
Key Elements Influencing Gold Price Variability:
Demand and Supply Dynamics:
The balance between demand and supply plays a critical role in shaping the gold rates in Shimla. An imbalance, where demand exceeds supply, naturally drives up the prices of gold in the region.
Interest Rate Relationship:
The cost of gold is closely tied to interest rates, showing an inverse correlation. Higher interest rates tend to discourage gold purchases, leading to a decrease in demand and subsequently, gold prices.
Jewelry Market Consumption:
In India, gold jewelry is extensively utilized in weddings and other celebrations, leading to a significant stockpile of gold jewelry, particularly in traditional settings.
Inflation's Impact:
Inflation, characterized by rising prices and currency devaluation, makes gold an attractive investment as it retains value over time, thereby explaining its popularity during inflationary periods.
Government Gold Reserves:
The actions of the Indian government, through its management of gold reserves and transactions by The Reserve Bank of India, directly affect gold prices. These prices fluctuate based on the government's buying and selling activities.
Exchange Rate Effects:
Since gold prices on the international market are pegged in USD, changes in the USD to INR exchange rate directly influence the cost of importing gold, thereby affecting domestic gold prices through variations in import and selling prices.
Import Duty Impact:
Despite India's minimal contribution to global gold production, the demand for gold in Shimla, coupled with India's status as one of the largest gold consumers globally, means that import duties considerably influence the retail price of gold daily.
Key Elements Influencing Gold Price Variability:
Demand and Supply Dynamics:
The balance between demand and supply plays a critical role in shaping the gold rates in Shimla. An imbalance, where demand exceeds supply, naturally drives up the prices of gold in the region.
Interest Rate Relationship:
The cost of gold is closely tied to interest rates, showing an inverse correlation. Higher interest rates tend to discourage gold purchases, leading to a decrease in demand and subsequently, gold prices.
Jewelry Market Consumption:
In India, gold jewelry is extensively utilized in weddings and other celebrations, leading to a significant stockpile of gold jewelry, particularly in traditional settings.
Inflation's Impact:
Inflation, characterized by rising prices and currency devaluation, makes gold an attractive investment as it retains value over time, thereby explaining its popularity during inflationary periods.
Government Gold Reserves:
The actions of the Indian government, through its management of gold reserves and transactions by The Reserve Bank of India, directly affect gold prices. These prices fluctuate based on the government's buying and selling activities.
Exchange Rate Effects:
Since gold prices on the international market are pegged in USD, changes in the USD to INR exchange rate directly influence the cost of importing gold, thereby affecting domestic gold prices through variations in import and selling prices.
Import Duty Impact:
Despite India's minimal contribution to global gold production, the demand for gold in Shimla, coupled with India's status as one of the largest gold consumers globally, means that import duties considerably 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 Bhopal
Evaluating Gold Purity in Shimla:
In Shimla, the assessment of gold's purity and its pricing falls under the jurisdiction of the Indian Bullion Association, which requires a hallmark on all gold products to certify their purity.
As with many places, the cost of gold in Shimla is influenced by the trends in the global market.
Due to India's lack of domestic gold mining, shifts in the international markets have a profound impact on the purchasing capabilities of both importers and the wider community in Shimla, impacting their access to gold.
Evaluating Gold Purity in Shimla:
In Shimla, the assessment of gold's purity and its pricing falls under the jurisdiction of the Indian Bullion Association, which requires a hallmark on all gold products to certify their purity.
As with many places, the cost of gold in Shimla is influenced by the trends in the global market.
Due to India's lack of domestic gold mining, shifts in the international markets have a profound impact on the purchasing capabilities of both importers and the wider community in Shimla, impacting their access to gold.
Necessary Documentation for Gold Investment in Bhopal
Necessary Documentation for Gold Investments:
An investment exceeding Rs. 2 lakhs necessitates the submission of a PAN card along with a valid proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), it is required to establish both a brokerage and a Demat account with the firm selling the ETFs.
Engaging in SGBs (Sovereign Gold Bonds) or digital gold investments typically involves minimal documentation and does not require the setup of a Demat account.
For investments in gold mutual funds, both a brokerage and a Demat account are essential.
Necessary Documentation for Gold Investments:
An investment exceeding Rs. 2 lakhs necessitates the submission of a PAN card along with a valid proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), it is required to establish both a brokerage and a Demat account with the firm selling the ETFs.
Engaging in SGBs (Sovereign Gold Bonds) or digital gold investments typically involves minimal documentation and does not require the setup of a Demat account.
For investments in gold mutual funds, both a brokerage and a Demat account are 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 Bhopal
Essential Aspects to Consider When Buying Gold in Shimla:
Purity Levels:
While 24K gold is considered pure, its lack of malleability means it's typically alloyed with other metals, resulting in variations such as 22K, 18K, and 14K gold.
Gold Price Per Gram:
The cost of gold varies not only day-to-day but also by location. It's crucial to verify the current 22-carat and 18-carat gold prices per gram in Shimla before making your purchase.
Buy-Back Policy:
With the fluctuating market, opting for sellers who offer reliable buy-back terms at current market rates is important. Many also provide options to sell or exchange gold, deducting only the making charges, to secure the day's gold prices.
Gold Certification:
The Bureau of Indian Standards is responsible for certifying gold purity. The widely recognized 916 hallmark indicates a composition of 91.6% pure gold, also referred to as 22K gold.
Manufacturing Charges:
The retail cost of gold jewelry in Shimla often surpasses the day's 916 gold rate due to additional making charges. The total price is generally calculated by multiplying the gold's weight in grams by the 22-carat rate in Shimla, adding making charges (approximately 10 to 20% of the current gold rate), and applying GST at 3% based on the 916 rate today.
Essential Aspects to Consider When Buying Gold in Shimla:
Purity Levels:
While 24K gold is considered pure, its lack of malleability means it's typically alloyed with other metals, resulting in variations such as 22K, 18K, and 14K gold.
Gold Price Per Gram:
The cost of gold varies not only day-to-day but also by location. It's crucial to verify the current 22-carat and 18-carat gold prices per gram in Shimla before making your purchase.
Buy-Back Policy:
With the fluctuating market, opting for sellers who offer reliable buy-back terms at current market rates is important. Many also provide options to sell or exchange gold, deducting only the making charges, to secure the day's gold prices.
Gold Certification:
The Bureau of Indian Standards is responsible for certifying gold purity. The widely recognized 916 hallmark indicates a composition of 91.6% pure gold, also referred to as 22K gold.
Manufacturing Charges:
The retail cost of gold jewelry in Shimla often surpasses the day's 916 gold rate due to additional making charges. The total price is generally calculated by multiplying the gold's weight in grams by the 22-carat rate in Shimla, adding making charges (approximately 10 to 20% of the current gold rate), and applying GST at 3% based on the 916 rate today.
FAQs on Gold Rates in Bhopal
What is the current live gold rate in Shimla?
The live gold rate in Shimla changes daily; consult the latest updates on a trusted financial news website or inquire at a local jeweler.
How often do gold prices change in Shimla?
Gold prices in Shimla can fluctuate multiple times throughout the day, reflecting global market conditions.
What factors influence the gold rate in Shimla?
The gold rate in Shimla is influenced by international gold prices, currency exchange rates, local demand, and economic indicators.
Where can I find the most accurate gold rates for Shimla?
Accurate and current gold rates for Shimla can be found on reputable financial websites, gold rate tracking apps, or by visiting well-established jewelers in the city.
Do gold rates vary among different jewelers in Shimla?
While the base rate for gold might be consistent, additional charges like making charges and GST can cause slight variations in prices among different jewelers in Shimla.
What is the current live gold rate in Shimla?
The live gold rate in Shimla changes daily; consult the latest updates on a trusted financial news website or inquire at a local jeweler.
How often do gold prices change in Shimla?
Gold prices in Shimla can fluctuate multiple times throughout the day, reflecting global market conditions.
What factors influence the gold rate in Shimla?
The gold rate in Shimla is influenced by international gold prices, currency exchange rates, local demand, and economic indicators.
Where can I find the most accurate gold rates for Shimla?
Accurate and current gold rates for Shimla can be found on reputable financial websites, gold rate tracking apps, or by visiting well-established jewelers in the city.
Do gold rates vary among different jewelers in Shimla?
While the base rate for gold might be consistent, additional charges like making charges and GST can cause slight variations in prices among different jewelers in Shimla.
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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