Last updated on: 8th Mar 2023 06:30 AM
Bahadurgarh, a city located in the Haryana state of India, is known for its thriving gold market. It is home to several gold dealers and jewelers, providing a range of options for investment in gold. The city's growing economy and increasing consumer demand for gold make it an attractive destination for gold investment.
Investors can choose from a variety of options including physical gold, SGBs (Sovereign Gold Bonds), and digital gold, each offering unique benefits and drawbacks. With its favorable market conditions and investment opportunities, Bahadurgarh is a promising destination for those looking to invest in gold.
In Bahadurgarh, the purity of gold is evaluated using the karat system, where 24 karat gold is considered the purest form of gold. The most common form of gold sold in Bahadurgarh is 22 karat gold, which is 91.6% pure. To determine the purity of gold, the following parameters are checked:
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹553.90 -1.00 (-0.18%) | ₹553.90 0.00 (0.00%) |
8 grams | ₹4,431.20 -8.00 (-0.18%) | ₹4,431.20 0.00 (0.00%) |
10 grams | ₹5,539.00 -10.00 (-0.18%) | ₹5,539.00 0.00 (0.00%) |
100 grams | ₹55,390.00 -100.00 (-0.18%) | ₹55,390.00 0.00 (0.00%) |
Below are the common factors affecting the rates of gold in Bahadurgarh:
Gold's price goes up when demand is high and down when it's low. Demand for gold, unlike certain other commodities, remains consistently high. Market forces of supply and demand highly influence gold prices in Bahadurgarh.
Indian people choose to put their money into gold because of its historical correlation with inflation. With inflation on the rise, currency values decline. So, gold is a popular choice for keeping one's wealth secure. Gold's value is relatively stable over the long term, in contrast to the constantly shifting value of currencies
Gold prices and interest rates are inversely proportional. People liquidate their gold holdings in anticipation of a rise in interest rates so they may invest the proceeds profitably. As interest rates fall, consumers are more likely to invest in gold, driving demand and, eventually, its price.
India's import tariff significantly affects gold prices since the country does not produce/mine the precious metal but instead imports large quantities. This is one of the factors that drive gold prices in Bahadurgarh.
Gold has a special place in every Indian home. Buying gold is considered to be an essential part of a wedding or a festival. Consequently, its price rises as the demand spikes during specific seasons.
The government keeps gold reserves. Gold prices rise in Bahadurgarh when the Reserve Bank of India (RBI) begins to acquire more precious metals than it sells and vice versa.
Gold is sold internationally in US dollars. As a result, the price of imported gold into India becomes more expensive as the Indian rupee weakens against the US dollar.
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,539.00 0.00 (0.00%) | ₹5,077.60 0.00 (0.00%) |
08 Mar 2023 | ₹5,539.00 -10.00 (-0.18%) | ₹5,077.60 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
06 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
05 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
04 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
03 Mar 2023 | ₹5,549.00 15.00 (0.27%) | ₹5,086.77 13.75 (0.23%) |
02 Mar 2023 | ₹5,534.00 16.00 (0.29%) | ₹5,073.02 14.67 (0.24%) |
01 Mar 2023 | ₹5,518.00 11.00 (0.20%) | ₹5,058.35 10.08 (0.17%) |
28 Feb 2023 | ₹5,507.00 -16.00 (-0.29%) | ₹5,048.27 -14.67 (-0.24%) |
Not everything that shines is gold. 24-karat gold is the purest form of the metal, but it is too soft to be used to make jewellery. In India, jewellery is mostly made with 22-karat or 18-karat gold. As a helpful hint, if your gold has a rating of 916, it is 91.67% pure (22K). This means that for every 100 grams of gold, there are 91.67 grams of pure gold.
By mixing it with different metals like silver, copper, tin, palladium, etc., gold may take on different tints, rose and white being the most common ones. Gold is often included in various technological, scientific, and diagnostic tools.
The implementation of Goods and Services Tax (GST) in India had an impact on the rate of gold in Bahadurgarh. GST on gold was fixed at 3% and was applicable to both gold jewelry and bullion. The inclusion of GST led to an increase in the overall cost of gold in Bahadurgarh and elsewhere in India.
The government justified the GST on gold by stating that it was a luxury item and therefore deserved to be taxed. However, the gold industry has argued that GST on gold has had a negative impact on the demand for gold and has led to an increase in smuggling and tax evasion.
When talking about jewellery, how can you tell the difference between a carat and a karat?
Although the terms carat and karat are often used interchangeably, they refer to entirely distinct entities. The weight of diamonds and precious stones is measured in units called carats.
Karat is a measure of how pure a piece of gold is. The standard for pure gold is 24 karats (99.9% pure). Other purity levels include 22 karats (91.6% pure),18 karats (75%) and 14 karats (58%).
What factors should I examine before purchasing gold jewellery in Bahadurgarh?
Should one save cash or invest in gold?
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.