Last updated on: 8th Mar 2023 06:30 AM
Bankura is a popular tourist attraction in West Bengal. This district is famous for its architecture, dense virgin forests, hills, terracotta temples, etc. The scenic beauty of Bankura is magnificent. Ornaments and jewellery have a significant place here.
Let alone Bankura, gold is an essential element of Indian households. This is why the country is one of the biggest consumers of gold in the world. Moreover, gold is primarily utilised for jewellery and investment purposes in Bankura. Unlike in other places where gold is used for industrial reasons, gold in Bankura is used primarily for investment.
India does not produce enough gold to fulfil its gold requirement. Therefore, to satisfy the gold requirements of the country, gold is imported from Switzerland, Dubai, and South Africa. The import of a commodity is subject to import duties. Three types of import duties are levied on gold imports in India. They are given below:
The introduction of Goods and Services Tax (GST) has influenced global trends and gold prices in Bankura. After these three types of import taxes, 3% GST is also levied on goods such as gold in India. The implementation of GST has led to an increase in gold prices in Bankura, contrary to the pre-GST regime.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹558.60 -1.10 (-0.20%) | ₹558.60 0.00 (0.00%) |
8 grams | ₹4,468.80 -8.80 (-0.20%) | ₹4,468.80 0.00 (0.00%) |
10 grams | ₹5,586.00 -11.00 (-0.20%) | ₹5,586.00 0.00 (0.00%) |
100 grams | ₹55,860.00 -110.00 (-0.20%) | ₹55,860.00 0.00 (0.00%) |
Gold is widely regarded as the most valuable metal. Consequently, it is quite valuable and quite expensive, and impure gold has deceived individuals on many occasions. Therefore, it is crucial to check gold purity before purchasing it.
The Bureau of Indian Standards (BIS) recommends three considerations when determining the purity of gold. The three methods for determining gold purity are as follows:
The BIS mark is a triangle-shaped logo. This sign on gold jewellery indicates that a BIS-certified laboratory has tested the purity of the gold.
The fineness of a piece of gold jewellery reflects the degree of purity of the gold. Furthermore, the purity of gold determines the price of gold jewellery.
A six-digit alphanumeric code gilded on hallmarked gold jewellery. Each piece of jewellery has its own unique code, referred to as a Hallmark Unique Identification (HUID) number. The BIS Care App can be used to validate this alphanumeric code.
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,586.00 0.00 (0.00%) | ₹5,120.69 0.00 (0.00%) |
08 Mar 2023 | ₹5,586.00 -11.00 (-0.20%) | ₹5,120.69 -10.08 (-0.17%) |
07 Mar 2023 | ₹5,597.00 0.00 (0.00%) | ₹5,130.77 0.00 (0.00%) |
06 Mar 2023 | ₹5,597.00 0.00 (0.00%) | ₹5,130.77 0.00 (0.00%) |
05 Mar 2023 | ₹5,597.00 0.00 (0.00%) | ₹5,130.77 0.00 (0.00%) |
04 Mar 2023 | ₹5,597.00 0.00 (0.00%) | ₹5,130.77 0.00 (0.00%) |
03 Mar 2023 | ₹5,597.00 16.00 (0.29%) | ₹5,130.77 14.67 (0.24%) |
02 Mar 2023 | ₹5,581.00 16.00 (0.29%) | ₹5,116.10 14.67 (0.24%) |
01 Mar 2023 | ₹5,565.00 10.00 (0.18%) | ₹5,101.44 9.17 (0.15%) |
28 Feb 2023 | ₹5,555.00 -15.00 (-0.27%) | ₹5,092.27 -13.75 (-0.23%) |
Here are some enlightening facts about gold:
The most popular way to invest in gold is through gold jewellery, but there are other ways to invest in gold as well. Some of them are:
Gold coins, biscuits, and bars are good gold investment options. Depending on your budget, you can obtain coins of different weights. Coins can be obtained from a bank or a reputable jewellery store. Banks sell gold coins but do not repurchase them; however, you can sell them to a jeweller.
Exchange-traded funds (ETFs) can be used to purchase gold. Gold ETF investments are available online. This has fundamentally altered the way gold is purchased. Each ETF unit represents one gram of gold. ETFs are growing increasingly popular as a result of the following advantages:
There are additional ways to invest in gold. You can invest in mutual funds such as a gold-related fund or a fund of funds (FOF). You might also invest in a fund that contains the equity of gold firms openly traded on global stock exchanges.
Is the conversion of cash to gold wise?
Gold would outperform cash in terms of long-term asset preservation. Interest rates remain low, meaning your money in the bank earns very less return. Moreover, when inflation is factored in, currency may actually lose value over time.
Will gold ever lose its value?
Will the value of the gold increase in ten years?
What size of gold is the best investment?
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.