Gold Rate Today in Alwar

Alwar is one of the oldest cities in Rajasthan and among the first Rajput territories to associate with the British Raj. The demand for gold in Alwar predominantly remains high as it is used in traditional ornaments and jewellery. People of Rajasthan consider gold a precious commodity and worship it as a symbol of prosperity.

The city always sees a constant demand for gold and is a hub for gold trade. Alwar's gold rates have increased in the past few years. Most people living here invest in gold. The demand for gold is high, particularly during festive occasions like Dhanteras and Akshaya Tithi, as well as the wedding seasons.

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

How is the Gold Rate in Alwar Determined?

Gold rates in Alwar are primarily affected by the changing value of:-

• The Indian Rupee vs the US Dollar – Fluctuations in prices affect the imports and exports of the country. India imports gold in US dollars when the dollar value rises against the rupee, the import cost increases, and the gold rate in Alwar increases.
• Prices of Alloys – Prices of metals such as silver, copper, zinc, etc., affect gold prices. This is because these metals are mixed with pure gold to create different types of gold (22-karat, 18-karat, 14-karat, etc.).

Things to Check When Investing in Gold in Alwar

• Purity Levels: Pure gold is known as 24-karat gold. Although it is the purest form of gold available (99.9%), it is too soft to be moulded into intricate designs for jewellery or ornaments. Thus, it is alloyed with small amounts of metals like silver, copper & zinc to form -
  i. 22-karat gold: purity of 91.6%
  ii. 18-karat gold: purity of 75%
  iii. 14-karat gold: purity of 58.5%
• Price per Gram of Gold: Gold rates fluctuate daily and vary across locations. It is essential to check the current rates in the city of Alwar before investing in it. If you monitor the price trends in the city regularly, you will be able to get the best deal on gold prices.
• Terms for Buy-Back: With fluctuations and changing market trends, it is crucial to find sellers who will assure buy-back terms at current and prevailing rates.
• Gold Certification: The purity of gold in Alwar is certified by the governing body for gold - the Bureau of Indian Standards (BIS). 916 gold is the most popular form of gold, primarily referring to 91.6 grams of gold in every 100 grams. It is another name for 22K gold, owing to its purity level.
• Charges for Making Products: The final price of jewellery in Alwar will be higher than the gold rate, including the cost of converting raw gold into ornaments. These charges are commonly referred to as making charges.

Investment Options for Gold in Alwar

There are several options available for investing in gold in Alwar, including:

1. Physical gold: You can purchase physical gold in the form of coins, bars, or jewellery. You can also opt for gold bullion, which is a standardized and refined form of gold that is traded on international markets.
2. Gold exchange-traded funds (ETFs): These are units of physical gold that are held in a dematerialized form. You can invest in gold ETFs through a Demat account.
3. Sovereign gold bonds (SGBs): These are government securities issued by the Reserve Bank of India (RBI). You can invest in SGBs through banks, brokers, and other financial institutions.
4. Gold mutual funds: These are mutual funds that invest in gold-based instruments such as gold ETFs, gold mining stocks, and gold futures. They offer the convenience of investing in gold without the need to physically own it.
5. Gold stocks: You can invest in gold mining companies by purchasing their stocks. The value of your investment depends on the performance of the company, as well as the price of gold. Gold stocks can be a riskier investment compared to other gold-based options.
6. Gold savings plans: These are investment plans offered by banks and financial institutions that allow you to invest in gold on a regular basis. The gold is held in a dematerialized form, and the value of your investment is based on the price of gold.
7. Gold-backed cryptocurrencies: These are cryptocurrencies that are backed by physical gold. They offer the convenience of investing in gold through a digital asset, but it is important to carefully research and evaluate the risks and potential returns before investing in any cryptocurrency.

It is important to carefully consider your investment goals, risk tolerance, and financial situation before deciding which gold investment option is right for you. It is also a good idea to seek the advice of a financial advisor or professional before making any investment decisions.

Factors Affecting the Gold Prices in Alwar

Inflation

Investors prefer to invest in gold than in currency during economic uncertainty. When inflation increases, the demand increases. Consequently, the price of gold shoots up.

Global Movement

India is among the largest importers of gold, and any change in import prices due to global movement gets reflected in the price of gold in India. The cost and demand for gold rise when there is a political crisis. 

Government Gold Reserves

When the central banks of large economies begin to procure gold and increase their reserves, the price of gold rises. It happens because the cash flow increases when the supply of gold decreases.