Last updated on: 8th Mar 2023 06:30 AM
Amreli is a city in Amreli District, Gujarat. Before independence, it was part of Vadodara State which was ruled by the Gaekwads. During the Gaekwad regime in 1886, a compulsory and free education policy was adopted in Amreli for the first time. On May 1 1960 when the Mumbai State was divided into Maharashtra and Gujarat, Amreli became part of Gujarat State. The famous Gir Wildlife Sanctuary is around 70 km from Amreli.
Gold being a precious metal is in very good demand in Amreli. People of Amreli buy gold in various forms – viz. gold ornaments, gold coins, gold biscuits, and gold bars. Gold is the first preference as far as jewellery is concerned. The demand for gold and golden ornaments witnesses a huge spike during the Diwali festivals and the wedding seasons.
You can also trade in gold, and for that, you will have to open an account with the commodity exchanges like the National Spot Exchange, Multi-commodity Exchange, etc.
Gold being a precious metal can be a very good investment option. Investing in commodities like gold has the effect of diversifying the portfolio. Further, investing in gold can help the investor in earning good returns in the medium to long term.
If investment in gold is compared to other investment options like Fixed Deposit with the Banks or the Post Office, Fixed Deposit is a safer investment option. Such an investment will give a return in the range of 5%-7%. Gold prices can fluctuate in a short term, however in the medium to long term, they are going upwards. The expected return on gold will be higher in the medium to long term.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹554.30 -1.00 (-0.18%) | ₹554.30 0.00 (0.00%) |
8 grams | ₹4,434.40 -8.00 (-0.18%) | ₹4,434.40 0.00 (0.00%) |
10 grams | ₹5,543.00 -10.00 (-0.18%) | ₹5,543.00 0.00 (0.00%) |
100 grams | ₹55,430.00 -100.00 (-0.18%) | ₹55,430.00 0.00 (0.00%) |
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,543.00 0.00 (0.00%) | ₹5,081.27 0.00 (0.00%) |
08 Mar 2023 | ₹5,543.00 -10.00 (-0.18%) | ₹5,081.27 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,553.00 0.00 (0.00%) | ₹5,090.44 0.00 (0.00%) |
06 Mar 2023 | ₹5,553.00 0.00 (0.00%) | ₹5,090.44 0.00 (0.00%) |
05 Mar 2023 | ₹5,553.00 0.00 (0.00%) | ₹5,090.44 0.00 (0.00%) |
04 Mar 2023 | ₹5,553.00 0.00 (0.00%) | ₹5,090.44 0.00 (0.00%) |
03 Mar 2023 | ₹5,553.00 15.00 (0.27%) | ₹5,090.44 13.75 (0.23%) |
02 Mar 2023 | ₹5,538.00 16.00 (0.29%) | ₹5,076.68 14.67 (0.24%) |
01 Mar 2023 | ₹5,522.00 11.00 (0.20%) | ₹5,062.02 10.08 (0.17%) |
28 Feb 2023 | ₹5,511.00 -16.00 (-0.29%) | ₹5,051.93 -14.67 (-0.24%) |
Before GST, 1% Excise and 1% VAT were charged on gold. After the implementation of GST, a 3% tax is levied on gold. In case, you are purchasing jewellery, you will have to pay GST on the making charges also.
Central Bank’s policies also have an impact on the gold rate. Gold is considered a hedge against inflation. When the central bank reduces interest rates, the demand for gold increases as more people would like to buy gold, this will push the prices of gold upwards. Similarly, when the central bank increases the interest rate, the demand for gold decreases and the prices do down.
24K gold and 22K gold are both types of pure gold, but they differ in terms of their gold content and properties.
Here are the main differences between the two:
Why should I invest in Gold?
Gold is a precious metal which can give good returns in the medium to long term. Further, investing in commodities can diversify the portfolio.
What should I buy if I want to invest in Gold?
What is digital gold?
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