Gold Rate Today in Aizawl
Last updated on: 1st Jun 2023 08:40 AM
Aizawl is the capital of Mizoram. It is the state's largest city, with a population of 2,93,416. Gold has consistently been the commodity of choice for investors in the city because of its price and value as a traditional investment. Gold is recognised as a hedging tool against deflation, inflation, and the declining rupee value. When there is political unrest and an economic downturn, the value of gold rises.
Gold Rate Comparison - 22K vs 24K
How Does GST Impact Gold Rates in Aizawl?
Anyone who purchases gold items is required to pay the Goods and Services Tax (GST). The tax brackets were released on June 3rd, 2017, and gold purchases are subject to 3% GST. In addition, there is a 5% GST on making charges (the costs associated with creating gold jewellery from raw gold).
Three types of import duties are applicable on gold imports to India - Custom Duty (12.5%), Agriculture and Infra Tax (2.5%), and Social Welfare Surcharge (10% of Custom Duty). Total import duty (excluding GST) is therefore around 15% (12.5 +2.5) + a minimal Social Welfare Surcharge of 10% of Custom Duty (not the gold price).
Today's 22K & 24K Gold Rates Per Gram in Aizawl
| Gram | Yesterday | Today |
|---|---|---|
| 1 gram | ₹6,035.00 3.00 (0.05%) | ₹5,989.00 -46.00 (-0.77%) |
| 8 grams | ₹48,280.00 24.00 (0.05%) | ₹47,912.00 -368.00 (-0.77%) |
| 10 grams | ₹60,350.00 30.00 (0.05%) | ₹59,890.00 -460.00 (-0.77%) |
| 100 grams | ₹6,03,500.00 300.00 (0.05%) | ₹5,98,900.00 -4600.00 (-0.77%) |
Investment Options for Gold in Aizawl
Gold Jewellery
Purchasing gold jewellery is still the most common way to invest in gold in Aizawl. People from all social groups frequently buy gold on auspicious events since it is a secure investment. One drawback of purchasing gold jewellery is paying for the production costs, which can increase the price by an additional 10%.
Gold Bars and Coins
Gold coins are available in various weights, such as 1 gram, 5 grams and 10 grams. Gold coins are also available in different purity levels, such as 22-karat and 24-karat.
Gold Mutual Funds
A gold mutual fund is a safe investment option as these funds are regulated by the Securities and Exchange Board of India (SEBI). SEBI is known to undertake periodical monitoring of mutual funds, which makes it a suitable option for investors.
Gold Exchange-Traded Funds (ETFs)
A gold ETF is a type of fund that tracks the price of gold. You can buy and sell gold ETFs on the stock exchange.
Historical Gold Rate in Aizawl for Last 10 Days
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 01 Jun 2023 | ₹59,890.00 -460.00 (-0.77%) | ₹54,901.16 -421.68 (-0.65%) |
| 31 May 2023 | ₹60,350.00 30.00 (0.05%) | ₹55,322.85 27.50 (0.04%) |
| 30 May 2023 | ₹60,320.00 510.00 (0.85%) | ₹55,295.34 467.52 (0.71%) |
| 29 May 2023 | ₹59,810.00 60.00 (0.10%) | ₹54,827.83 55.00 (0.08%) |
| 26 May 2023 | ₹59,750.00 -90.00 (-0.15%) | ₹54,772.82 -82.50 (-0.13%) |
| 25 May 2023 | ₹59,840.00 -460.00 (-0.77%) | ₹54,855.33 -421.68 (-0.65%) |
| 24 May 2023 | ₹60,300.00 -270.00 (-0.45%) | ₹55,277.01 -247.51 (-0.38%) |
| 23 May 2023 | ₹60,570.00 -120.00 (-0.20%) | ₹55,524.52 -110.00 (-0.17%) |
| 22 May 2023 | ₹60,690.00 0.00 (0.00%) | ₹55,634.52 0.00 (0.00%) |
| 19 May 2023 | ₹60,690.00 650.00 (1.07%) | ₹55,634.52 595.86 (0.90%) |
Understanding 916 Hallmarked Gold Prices in Aizawl
The 916 hallmark is a purity mark for gold in India. The 916 hallmark indicates that the gold is 91.6% pure and refers to 22-karat gold. The Bureau of Indian Standards (BIS) logo is stamped on 916 hallmarked gold. You can find 916 hallmarked gold at most jewellery stores in Aizawl.
Factors Affecting the Gold Rates in Aizawl
- Demand: The high demand for gold, specifically during festivals and weddings, increases its price. Besides that, gold is also considered a safe hedge against inflation, leading people to invest in gold for long-term returns.
- Government Regulations: Government regulations on taxes and duties impact gold rates. For instance, the rate declines when the government policies favour the metal and vice versa.
- Local and Global Factors: The gold prices in Aizawl are affected by local and global factors, including the availability of gold, its trading prices in the city, demand for gold jewellery, and the Indian currency exchange rate, among others.
FAQs of Gold Rate in Aizawl
What is the checklist I should follow for buying gold in Aizawl?
- Stay updated with the latest prices of gold before going to purchase it.
- Before buying gold, check its purity and review for the hallmark. The hallmark is a certification by the BIS (Bureau of Indian Standards) that authenticates the purity of the gold you purchase.
- Cross-examine the gold rates before purchasing since all shops do not display the updated gold rates.
- Check the additional charges that apply when buying gold in the case of ornaments.
- Ensure that you take the bill when purchasing gold. The bill will help you approach the higher authorities in case of fraud.
Why should I invest in Sovereign Gold Bonds (SGBs) rather than physical gold?
Why should I invest in gold?
Are KDM and 24-karat gold the same?
Can gold be authentic without a stamp?
Sovereign Gold Bond
2.5% p.a. + Gold price increase
- RBI issued bonds
- Best deals filtered for you
- Tax exempted when held till maturity
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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.