Last updated on: 29th Jan 2023 9:00 AM
Agartala is the second largest city in northeast India and the capital of Tripura. It has been the power centre of mighty rulers and is famous for its splendid palaces, lakes, and mesmerising natural beauty. The opulence is visible in the palaces like the Ujjyanta Palace and Kunjaban Palace. It is a city of power and rulers, and the demand for gold is not new to Agartala.
The gold rates in Agartala have fluctuated constantly due to various reasons, such as increased demand for gold and change in government policies. Generally, the price of gold rises when there is political instability, a slowdown in the economy, or any form of geopolitical turmoil. So, when gold experiences an increase in its rates under such conditions, other assets generally see a fall in their rates. It makes gold a good asset for investment.
People make various investments in gold, such as in physical gold and gold bonds. In India, purchasing gold is considered auspicious, and people are generally looking to buy more and more of it.
Various factors play together to keep changing the price of gold in Agartala.
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|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
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|26 Jan 2023|
|25 Jan 2023|
|24 Jan 2023|
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|21 Jan 2023|
With the implementation of Goods and Services Tax (GST) in Agartala, there was an increase in the prices of gold and gold jewellery in Agartala. GST came with many changes in the tax structure. Rather than work with a gambit of indirect taxes, like entertainment tax, service tax, Value Added Tax (VAT), and sales tax, a unified indirect tax structure was introduced by GST.
Goods and services were divided into categories and fell into one of the four tax slabs - 5%, 12%, 18%, and 28%. This tax structure had a significant two-way impact on the rate of gold in Tripura, also the rest of India.
A BIS Hallmark is a hallmarking system that certifies the purity of gold and silver jewellery sold in India. Hallmarking has been made mandatory by the Bureau of Indian Standards (BIS). It is implemented to protect consumers from purchasing gold that does not match the declared purity. With hallmarking, manufacturers have to comply with the stipulated standards of purity.
At the time of purchasing gold jewellery in Agartala, check for the four aspects of BIS hallmark jewellery:
|Day||24K Gold||22K Gold|
|01 January 2023||5465||5205|
|30 January 2023||5691||5420|
Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.
The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.
Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.
Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.
The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.
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