Last updated on: 8th Mar 2023 06:30 AM
Ahmadnagar is a small town in western Maharashtra. It has a diverse population and is known for its multicultural outlook. Like most of India, gold has been a traditional investment choice for many people in the city. Locals buy gold in the form of jewellery and bullion throughout the year. However, the demand for gold is highest during the festive season.
If you want to buy gold in Ahmadnagar, read on as we explore the top factors affecting gold rates and ways to invest in gold.
Gold is a commodity that is subject to various taxes when it is imported into and sold within India. The specific taxes that are applied to gold depend on the nature of the transaction and the form in which the gold is held.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹552.10 -1.00 (-0.18%) | ₹552.10 0.00 (0.00%) |
8 grams | ₹4,416.80 -8.00 (-0.18%) | ₹4,416.80 0.00 (0.00%) |
10 grams | ₹5,521.00 -10.00 (-0.18%) | ₹5,521.00 0.00 (0.00%) |
100 grams | ₹55,210.00 -100.00 (-0.18%) | ₹55,210.00 0.00 (0.00%) |
Unlike other entities, the price of gold is not just centred on demand, supply and fiat value. It is considered a stable investment for long-term returns, even during periods of high economic volatility. It is an excellent instrument to diversify your portfolio and hedge against market risks.
Gold jewellery has traditionally been used as an instrument of investment. However, the problem with using gold jewellery as an investment is that you end up paying making charges, which still need to be recovered on the sale of the very same articles. Consequently, the profitability of gold declines. Therefore, you can choose to invest in different alternatives:
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,521.00 0.00 (0.00%) | ₹5,061.10 0.00 (0.00%) |
08 Mar 2023 | ₹5,521.00 -10.00 (-0.18%) | ₹5,061.10 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
06 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
05 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
04 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
03 Mar 2023 | ₹5,531.00 15.00 (0.27%) | ₹5,070.27 13.75 (0.23%) |
02 Mar 2023 | ₹5,516.00 16.00 (0.29%) | ₹5,056.52 14.67 (0.24%) |
01 Mar 2023 | ₹5,500.00 11.00 (0.20%) | ₹5,041.85 10.08 (0.17%) |
28 Feb 2023 | ₹5,489.00 -16.00 (-0.29%) | ₹5,031.77 -14.67 (-0.24%) |
The purity of gold can be verified through the hallmark provided by the Bureau of Indian Standards (BIS). Only buy gold items after checking the hallmark. All registered jewellers must stamp gold articles with the hallmark and the gold karats. There are very high chances of being defrauded in purchasing un hallmarked gold.
The purity of gold is measured in karats. 24-karat gold is the purest form, containing 99.99% pure gold. However, it is too soft to be moulded into jewellery. Thus, 22-karat gold is used to make gold jewellery. This contains 22 parts of gold mixed with two pieces of metals like copper, silver, nickel and zinc. It is also called 916 gold, equivalent to 91.6% pure gold. The price of 916 gold is calculated by multiplying 0.916 by the price of 24 karat gold.
The purity of gold is tested using various tests such as:
However, these tests could damage your gold article and are not usually advised.
Many sellers in Ahmadnagar have an XRF Fluorescence Spectrometer - also called the 'Karatmeter' - which can be used to check the purity of gold without damaging it. This instrument uses the light-dispersive properties of gold to check its purity.
Should I buy un hallmarked gold?
It will help if you do not buy un hallmarked gold. There is no guarantee of the purity of this gold, and you could be defrauded.
What is KDM gold?
What is the checklist I should follow for buying gold in Ahmadnagar?
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.