Last updated on: 29th Jan 2023 9:00 AM
Anantapur is a town in the Anantapur District of Andhra Pradesh. It is one of the 16 municipal corporations in the state and is often referred to as 'Anantapuramu' or 'Anantapur'. The city is a part of Rayalaseema, a geographical region located in southern Andhra Pradesh.
The city is also a hub for gold trade. It is home to a vibrant community of jewellers and artisans who have been perfecting their craft for generations. Most shops are located in Sapthagiri Circle, Gandhi Bazar, and the Railway Feeder Road areas of the city.
Every investor must understand the asset they intend to invest in. So, here are some interesting facts about gold:
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Physical gold commands a special place among gold investors in Anantpur. But it comes with the risk of security threats. Moreover, owning physical gold entails creating space. So, naturally, many people are inclined to explore gold investment options beyond physical gold. Here's a sneak peek into some of them:
Gold ETFs are physical gold units in paper or dematerialised form. One Gold ETF unit is equivalent to one gram of gold. Gold ETFs are traded on the stock exchange like shares. Hence, you need a Demat account to operate them.
Sovereign Gold Bonds are securities backed by the Government of India. Issued by the Reserve Bank of India (RBI), they are popular alternatives to owning physical gold. You will receive a certificate with a fixed tenure remember that SGBs can be bought and redeemed only in cash.
Digital gold is a way to buy and own physical gold virtually. To elaborate, you do not own physical gold directly, but the equivalent value is stored in secure vaults by the seller. Digital gold was popularised by the country's leading payment aggregators.
Both gold and fixed deposits are popular investment instruments. However, both share some differences, too. To begin with, returns from FD are guaranteed and fixed. Market fluctuations or economic conditions don’t affect your interest income.
On the other hand, gold rates can fluctuate. This is because gold rates get decided daily. They could go up or down based on economic conditions. But per historical trends, gold rates have always gone up in the longer term.
|Day||24K Gold||22K Gold|
|01 January 2023||5387||5130|
|30 January 2023||5618||5350|
Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.
The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.
Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.
Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.
The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.
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