Last updated on: 3th Feb 2023 10:00 AM
Akola is Maharashtra's tenth-largest city and an important educational centre; it boasts clear gurgling rivers and enchanting forts with the most exquisite architecture. In Maharashtra, Akola ranks as the tenth-largest city and the third-largest city in Vidarbha after Nagpur and Amravati.
Like the rest of Maharashtra, gold is a much-revered metal in Akola. The people wear gold to mark various festivities and also see it as an investment option. Hence, the demand for gold in Akola typically increases during weddings and festival seasons.
The gold rates in Akola change daily, impacted by various factors. Anyone looking to buy or sell gold must know the current market rates.
So, continue reading as we dive deep into Akola's gold markets, explore the ongoing gold prices in the city, various forms of gold investments popular in Akola and more!
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,726.00 0.00 (0.00%) | ₹5,726.00 0.00 (0.00%) |
8gm | ₹45,808.00 0.00 (0.00%) | ₹45,808.00 0.00 (0.00%) |
10gm | ₹57,260.00 0.00 (0.00%) | ₹57,260.00 0.00 (0.00%) |
100gm | ₹5,72,600.00 0.00 (0.00%) | ₹5,72,600.00 0.00 (0.00%) |
Here are some factors that play a significant role in determining gold prices in Akola:
Day | 24K Gold | 22K Gold |
---|---|---|
04 Feb 2023 | ₹5,726.00 0.00 (0.00%) | ₹5,453.00 0.00 (0.00%) |
03 Feb 2023 | ₹5,726.00 0.00 (0.00%) | ₹5,453.00 0.00 (0.00%) |
02 Feb 2023 | ₹5,726.00 90.00 (1.60%) | ₹5,453.00 85.00 (1.59%) |
01 Feb 2023 | ₹5,636.00 26.00 (0.47%) | ₹5,368.00 25.00 (0.47%) |
31 Jan 2023 | ₹5,610.00 -16.00 (-0.28%) | ₹5,343.00 -15.00 (-0.27%) |
30 Jan 2023 | ₹5,626.00 0.00 (0.00%) | ₹5,358.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,626.00 0.00 (0.00%) | ₹5,358.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,626.00 16.00 (0.29%) | ₹5,358.00 15.00 (0.29%) |
27 Jan 2023 | ₹5,610.00 -63.00 (-1.11%) | ₹5,343.00 -60.00 (-1.11%) |
26 Jan 2023 | ₹5,673.00 42.00 (0.75%) | ₹5,403.00 40.00 (0.75%) |
Here is a list of gold investment options preferred by the people of Akola:
The implementation of GST has had an impact on gold rates in Akola because it has changed the way that taxes are applied to gold transactions. Prior to the implementation of GST, gold was subject to a value-added tax (VAT) of 1% and a sales tax of 1%. Under GST, these taxes were replaced by a single tax called the Goods and Services Tax (GST), which is levied at a rate of 3% on the value of gold.
In addition to the GST on the value of gold, a making charge of 5% is also applied to gold when it is made into jewellery. This making charge is in addition to the GST on the value of the gold itself.
Overall, the implementation of GST has resulted in an increase in the taxes applied to gold transactions in Akola, as the GST rate of 3% is higher than the combined VAT and sales tax rate of 2% that was applied prior to GST. As a result, the price of gold in Akola has increased due to the GST.
Day | 24K Gold | 22K Gold |
---|---|---|
01 February 2023 | 5636 | 5368 |
07 February 2023 | 0 | 0 |
Highest | 5726 | 5453 |
Lowest | 5636 | 5368 |
916 hallmarked gold, also known as 22-karat gold, is a type of gold that contains 91.6% pure gold and 8.4% other metals. The term "hallmarked" refers to the fact that the gold has been certified by a government-authorized assayer to meet certain standards of purity and quality.
In Akola, as well as in other parts of India, it is common for gold to be sold in the form of jewelry, coins, or bars that are made from 916 hallmarked gold. The 916 hallmark is used to indicate the purity of the gold and to provide consumers with assurance that the gold meets certain standards.
The value of 916 hallmarked gold in Akola is determined by a number of factors, including the current market price of gold, the cost of refining and assaying the gold, and any applicable taxes or duties. Gold dealers in Akola typically display the price of 916 hallmarked gold in terms of the weight of the gold, such as in grams or ounces.
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