Gold rate in Ahmedabad
gold rate in ahmedabad

24K Gold/ 10gm
57,480.00
0.00(0.00%)
22K Gold/ 10gm
54,740.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Gold has always fascinated Indians, and Gujarat is a state that is known for its flourishing gold trade. Gujarat has a significant number of famous jewellers.

 

Ahmedabad is the biggest city in Gujarat, home to almost 5.5 million people. It has emerged as an important economic and industrial hub in India. The Government of India has selected Ahmedabad as one of the hundred Indian cities to be converted into smart cities under its flagship Smart Cities Mission. Ahmedabad was designated as a UNESCO World Heritage City in July 2017. The city's gold trade contributes to the livelihood of many people. It also attracts gold dealers across India, so you can find all the significant jewellers in this city.

 

Let us have a look at the gold prices in the city.

22K & 24K Gold Rates Per Gram in Ahmedabad

24K
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GramYesterdayToday
1gm
5,748.00
0.00 (0.00%)
5,748.00
0.00 (0.00%)
8gm
45,984.00
0.00 (0.00%)
45,984.00
0.00 (0.00%)
10gm
57,480.00
0.00 (0.00%)
57,480.00
0.00 (0.00%)
100gm
5,74,800.00
0.00 (0.00%)
5,74,800.00
0.00 (0.00%)

Factors Affecting the Gold Prices in Ahmedabad

 

  • Demand and Supply: Just the simple demand and supply ratio of gold can influence its price. Like all other products, High demand but low supply drive up gold prices. Conversely, when the supply is high but demand is low, the prices fall.
    During festivals and wedding seasons, the demand for gold is especially high. This leads to a surge in price.
  • Global Crisis: Gold is often called a "crisis commodity" because its prices rise during global unrest. Global events impact gold rates mainly because gold is often used as a safety hedge against tumultuous economic and global events.
  • Value of the US Dollar: Since gold and bullion trade is carried out in US dollars, the dollar value significantly impacts gold rates. Gold and the US dollar are inversely related. When the value of the US dollar falls, gold rates rise, and when the dollar strengthens, the gold rates drop.
  • Government Regulations: Government regulations regarding taxes and duties impact gold rates. For instance, the rate declines when the government policies favour the metal and vice versa. With the implementation of GST (3%), there has been an increase in the tax rates for gold. In addition to that, the tax charged by the local government also influences gold rates.
  • Gold Reserves: In addition to the currency of India, the Reserve Bank of India holds gold reserves as well. If the Reserve Bank of India acquires more gold, then the price of gold rises because of increased demand.

Historical gold rates in Ahmedabad in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
03 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
02 Feb 2023
5,748.00
90.00 (1.60%)
5,474.00
85.00 (1.58%)
01 Feb 2023
5,658.00
26.00 (0.47%)
5,389.00
25.00 (0.47%)
31 Jan 2023
5,632.00
-16.00 (-0.28%)
5,364.00
-15.00 (-0.27%)
30 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
29 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
28 Jan 2023
5,648.00
16.00 (0.29%)
5,379.00
15.00 (0.28%)
27 Jan 2023
5,632.00
-63.00 (-1.10%)
5,364.00
-60.00 (-1.10%)
26 Jan 2023
5,695.00
42.00 (0.75%)
5,424.00
40.00 (0.75%)

Gold Schemes to Invest In Ahmedabad

  • Physical Gold: The traditional way of purchasing gold in Ahmedabad involves coins, bars, bullion and jewellery.
  • Sovereign Gold Bonds: Sovereign Gold Bonds are issued by the RBI on behalf of the Government of India. One bond represents 1 gram of the precious metal. You can invest in as little as 1 gram and as much as 4 kg of gold.
  • Gold Exchange Traded Funds (ETFs) - This is a form of digital gold that you can invest in through the Stock Exchange and banks. One gold ETF unit is equivalent to 1 gram of gold and is backed by pure physical gold. ETFs are safe and hassle-free since everything in this method is electronic.
  • Gold Accumulation Plan: Under this plan, you deposit a fixed amount of money for a specified period. When the plan matures, you can opt for gold coins or jewellery in exchange for your investment.

Weekly & monthly gold rate in Ahmedabad
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Some Interesting Facts on Gold

Here are some interesting facts about gold in India:

  1. India is one of the largest consumers of gold in the world, with a long-standing cultural affinity for the metal.
  2. The demand for gold in India is driven by a number of factors, including its use in jewelry, religious rituals, and as a store of wealth.
  3. India is also a significant producer of gold, with a number of gold mines located in the states of Rajasthan, Karnataka, and Andhra Pradesh.
  4. The gold market in India is regulated by the government through the India Bullion and Jewellers Association (IBJA) and the Gems and Jewellery Export Promotion Council (GJEPC).
  5. Gold imports in India are subject to a 10% import duty, which is one of the highest in the world.
  6. In recent years, the government of India has introduced a number of measures to promote the domestic gold industry and reduce dependence on imports, including the Gold Monetization Scheme and the Sovereign Gold Bond Scheme.
  7. India has a number of traditional gold markets, including the Zaveri Bazaar in Mumbai, which is one of the largest gold markets in the world.
  8. The gold jewelry industry in India is highly skilled and is known for its intricate designs and craftsmanship.
  9. Gold is also an important component of India's export economy, with a significant portion of gold exports being in the form of jewelry.
  10. The gold price in India is influenced by a number of factors, including the international gold price, local supply and demand, and the exchange rate of the Indian rupee.

Trend of Gold rates in Ahmedabad

1 gram
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Day24K Gold22K Gold
01 February 202356585389
07 February 202300
Highest57485474
Lowest56585389

How is the Purity of Gold Evaluated in Ahmedabad?

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.

  1. BIS Mark

    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.

  2. Karat

    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.

  3. Jewellers Identification Mark

    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.

FAQs of Gold price in Ahmedabad

What does karat mean?

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What are the best places in Ahmedabad to buy gold from?
 

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How do I pick a jeweller in Ahmedabad?

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What is 916 gold?
 

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