Gold rate in Ayodhya

Ayodhya is a historical town that the Hindus revere as one of their seven holiest towns. The Ramayana, a famous Indian epic poem, associates Ayodhya with the birth of Rama and Dasharatha's rule over it.

 Even though there are other investment options available, the demand for gold has remained high. Demand in Ayodhya affects the price of gold. This has motivated an increasing number of investors to invest money in this precious metal. Read on to learn more about gold rates in Ayodhya and how to invest.

Some Interesting Facts on Gold

Here are some of the most interesting facts on gold that will further pique your interest in the precious metal:

• Gold is one of the assets that Indians prefer the most due to its secure reputation and popularity as a jewellery material.
• According to a 2019 World Gold Council (WGC) survey, Indian families own more than 25,000 tons of gold, making it the nation with the largest gold reserves worldwide. This serves to emphasize once more the deep affinity Indians have for the golden metal.
• Given the importance of gold in Indian culture, this nation prefers buying it more frequently for jewellery than investments.
• Gold is immune to rust, oxidation, and most acids due to its near indestructibility. Because of its endurance, gold is the ideal metal for use in jewellery creation.

How is the Purity of Gold Evaluated in Ayodhya?

The most valuable form of gold is pure. Customers may occasionally be tricked into buying gold that isn't pure. As a result, it's critical to confirm the purity of gold. The Bureau of Indian Standards is one example of a government body that verifies the purity of gold (BIS). According to BIS, gold buyers should take the following factors into account.

BIS Mark: The BIS logo can be seen on jewellery that has been BIS hallmarked. Remember that the BIS is the only accredited laboratory in India for gold certification; hence this mark is necessary.

Karat: The purity of gold is determined using the karat scale. Even though 24-carat gold is the purest, it is too delicate to be used. More metals are added, and 22-karat gold is commonly available on the market.

Impact of GST / Central Bank Policies on Gold Rates in Ayodhya

Since the Goods and Services Tax (GST), which will take effect on July 1st, 2017, would bring in a new era in taxation in India, investors, manufacturers, and consumers have been anxiously expecting details on the new tax slabs. The new tax system, which would replace taxes like the value-added tax, central excise duty, and customs duty, has three tax brackets proposed by the administration.

The GST was set at 3% for gold, plus an additional tax on making charges. The making charge tax was reduced from 10% to 5% as a result of complaints made by various organizations.