Last updated on: 8th Mar 2023 06:30 AM
Bhavnagar is a prominent city in Gujarat located near the coast of the Gulf of Khambhat. It is home to numerous small and large gem and gold traders and has the world’s largest shipbreaking yard. The city also has good connectivity by rail, road and air to all major cities.
Gujarat has launched the country’s first international bullion exchange, i.e. India International Bullion Exchange (IIBX). Setting up of IIBX will increase transparency and could lead to standardised gold pricing in India. This will allow small bullion dealers and jewellers to trade in gold conveniently. With such developments, gold investment is, as always, the most sought-after wealth-creation asset in India.
Most people prefer buying gold in coins, bars or jewellery. This is the traditional and most common form of gold investment in Bhavnagar.
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%) |
Gold is liable to market fluctuations. Let us understand why these fluctuations occur.
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%) |
The Goods and Services Tax (GST) was introduced in 2017. GST has streamlined taxes levied on gold buying and selling. So, GST has a significant role in determining your gold price in Bhavnagar.
You will be charged 3% GST on buying both physical and digital gold.
If you repurpose or design your gold into coins or jewellery, 5% GST will also be applied on the making charges of converting gold into ornaments.
What is Digital Gold Organisations?
These organisations let you buy gold in digital format. They let you invest in the amount of gold and keep the underlying physical gold stored with depositories and insured locker facilities. This helps you easily invest in gold without worrying about hallmark compliance and the physical storage of your gold.
What are the import duties levied on gold purchases?
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