Gold Rate Today in Ahmednagar
Last updated on: 8th Mar 2023
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 Rate Comparison - 22K vs 24K
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.
- Import Duty: When gold is imported into India, an import duty of 12.5% is charged on the value of the gold. This duty is levied by the government to protect domestic industries and to raise revenue.
- Agriculture Infrastructure Development Cess: In addition to the import duty, a 2.5% Agriculture Infrastructure Development Cess (AIDC) is also charged on imported gold. The AIDC is a tax that is levied on the value of certain imported goods, including gold, to fund agriculture infrastructure development in the country.
- Goods and Services Tax (GST): The Goods and Services Tax (GST) is a value-added tax that is applied to the sale of goods and services in India. For gold, the GST rate is 3%. This means that when gold is sold, a GST of 3% is charged on the value of the gold.
- GST on making charges: When gold is made into jewellery, the process of transforming the raw material into a finished product is known as "making charges." When gold is made into jewellery, a GST rate of 5% is charged on the value of the making charges. This means that when gold jewellery is sold, a GST of 5% is charged on the value of the making charges in addition to the GST on the value of the gold itself.
Today's 22K & 24K Gold Rates Per Gram in Ahmednagar
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹5,521.00 -10 (0.18%) | ₹5,521.00 0 (0.00%) |
8 grams | ₹44,168.00 -80 (0.18%) | ₹44,168.00 0 (0.00%) |
10 grams | ₹55,210.00 -100 (0.18%) | ₹55,210.00 0 (0.00%) |
100 grams | ₹5,52,100.00 -1000 (0.18%) | ₹5,52,100.00 0 (0.00%) |
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹5,521.00 -10 (0.18%) | ₹5,521.00 0 (0.00%) |
8 grams | ₹44,168.00 -80 (0.18%) | ₹44,168.00 0 (0.00%) |
10 grams | ₹55,210.00 -100 (0.18%) | ₹55,210.00 0 (0.00%) |
100 grams | ₹5,52,100.00 -1000 (0.18%) | ₹5,52,100.00 0 (0.00%) |
Gold as an Investment
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:
- Gold biscuits or coins are a good investment alternative to jewellery and fetch excellent long-term returns.
- Sovereign Gold bonds (SGBs): Various gold bonds are issued from time to time by the Reserve Bank of India. These bonds are measured in grams of gold. The owner receives an interest payment of 2.5% on a semi-annual basis. At maturity, the adhesive can be redeemed at the then price of 24-karat gold.
- Gold Exchange-Traded Funds (ETFs): You can invest in a gold ETF issued by various fund houses. Via these funds, you can even buy gold in decimals, such as 0.02 grams. These ETFs are 100% backed by physical gold of high quality.
- Gold Futures: These are gold derivatives that can be traded on exchanges.
Historical Gold Rate in Ahmednagar for Last 10 Days
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹55,210.00 0 (0.00%) | ₹50,611.01 0 (0.00%) |
08 Mar 2023 | ₹55,210.00 -100 (0.18%) | ₹50,611.01 -91.67 (0.15%) |
07 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
06 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
05 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
04 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
03 Mar 2023 | ₹55,310.00 +150 (0.27%) | ₹50,702.68 +137.50 (0.23%) |
02 Mar 2023 | ₹55,160.00 +160 (0.29%) | ₹50,565.17 +146.67 (0.24%) |
01 Mar 2023 | ₹55,000.00 +110 (0.20%) | ₹50,418.50 +100.84 (0.17%) |
28 Feb 2023 | ₹54,890.00 -160 (0.29%) | ₹50,317.66 -146.67 (0.24%) |
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹55,210.00 0 (0.00%) | ₹50,611.01 0 (0.00%) |
08 Mar 2023 | ₹55,210.00 -100 (0.18%) | ₹50,611.01 -91.67 (0.15%) |
07 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
06 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
05 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
04 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
03 Mar 2023 | ₹55,310.00 +150 (0.27%) | ₹50,702.68 +137.50 (0.23%) |
02 Mar 2023 | ₹55,160.00 +160 (0.29%) | ₹50,565.17 +146.67 (0.24%) |
01 Mar 2023 | ₹55,000.00 +110 (0.20%) | ₹50,418.50 +100.84 (0.17%) |
28 Feb 2023 | ₹54,890.00 -160 (0.29%) | ₹50,317.66 -146.67 (0.24%) |
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹55,210.00 0 (0.00%) | ₹50,611.01 0 (0.00%) |
08 Mar 2023 | ₹55,210.00 -100 (0.18%) | ₹50,611.01 -91.67 (0.15%) |
07 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
06 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
05 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
04 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
03 Mar 2023 | ₹55,310.00 +150 (0.27%) | ₹50,702.68 +137.50 (0.23%) |
02 Mar 2023 | ₹55,160.00 +160 (0.29%) | ₹50,565.17 +146.67 (0.24%) |
01 Mar 2023 | ₹55,000.00 +110 (0.20%) | ₹50,418.50 +100.84 (0.17%) |
28 Feb 2023 | ₹54,890.00 -160 (0.29%) | ₹50,317.66 -146.67 (0.24%) |
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹55,210.00 0 (0.00%) | ₹50,611.01 0 (0.00%) |
08 Mar 2023 | ₹55,210.00 -100 (0.18%) | ₹50,611.01 -91.67 (0.15%) |
07 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
06 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
05 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
04 Mar 2023 | ₹55,310.00 0 (0.00%) | ₹50,702.68 0 (0.00%) |
03 Mar 2023 | ₹55,310.00 +150 (0.27%) | ₹50,702.68 +137.50 (0.23%) |
02 Mar 2023 | ₹55,160.00 +160 (0.29%) | ₹50,565.17 +146.67 (0.24%) |
01 Mar 2023 | ₹55,000.00 +110 (0.20%) | ₹50,418.50 +100.84 (0.17%) |
28 Feb 2023 | ₹54,890.00 -160 (0.29%) | ₹50,317.66 -146.67 (0.24%) |
How is the Purity of Gold Evaluated in Ahmadnagar?
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:
- Scratch test
- Nitric acid test
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.
Factors Impacting Gold Rates in Ahmadnagar
- Gold prices globally are determined by forces of demand and supply.
- Changes in US dollar value also cause an inverse movement in the price of gold in Ahmadnagar.
- Custom duties impact gold prices since much of the country's gold is imported.
- The price of gold in Ahmadnagar also includes customs duties and bankers' and dealers' margins.
- Gold prices vary from one state to another based on the cost of transporting gold and the security protocols followed by the state. Consequently, gold prices are slightly lower in port states in India.
- Gold surges in value when the stock market falls.
- Accumulation of gold by the Reserve Bank of India has historically caused gold prices to surge.
- Festive seasons such as Diwali and Dhanteras witness an increased demand for gold. This also causes the prices to go up.
- Periods of increasing interest rates see a fall in gold prices as people prefer to invest in high-interest-rate paying instruments instead of gold.
- Increasing inflation also leads to an increase in gold prices.
FAQs of Gold Rate in Ahmednagar
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?
Sovereign Gold Bond
2.5% p.a. + Gold price increase
- RBI issued bonds
- Best deals filtered for you
- Tax exempted when held till maturity
Gold Rate Calculator
Location
Price
₹55,210 / 10gm
Last updated on: 8th Mar 2023