Last updated on: 8th Mar 2023 06:30 AM
Bhiwandi is a city in the Thane district of Maharashtra, India. It is known for its textile industry and is considered one of the largest power loom weaving centres in the country. In recent years, Bhiwandi has also emerged as a hub for gold investment due to the presence of several gold dealers and jewellery shops.
Investing in gold has become a popular option for many people in Bhiwandi due to its perceived stability and reliability as an investment asset. Gold can serve as a hedge against inflation, currency fluctuations, and political and economic uncertainty, making it an attractive option for those seeking to diversify their portfolios.
The Bureau of Indian Standards (BIS) is a government body that authenticates the purity of gold. The process of certifying gold is termed hallmarking. Hallmarking is done primarily to protect consumers from adulteration and to ensure that manufacturers maintain legal standards of purity and fineness. The four main elements that you should look for in hallmarked gold jewellery are as follows:
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹552.10 -1.00 (-0.18%) | ₹552.10 0.00 (0.00%) |
8 grams | ₹4,416.80 -8.00 (-0.18%) | ₹4,416.80 0.00 (0.00%) |
10 grams | ₹5,521.00 -10.00 (-0.18%) | ₹5,521.00 0.00 (0.00%) |
100 grams | ₹55,210.00 -100.00 (-0.18%) | ₹55,210.00 0.00 (0.00%) |
A significant number of people look for jewellery stores in Bhiwandi to purchase gold jewellery, coins, bars or bullion. But this yellow metal can be purchased in different forms apart from physical gold. A few of them are:
Investing in these alternatives eliminates the hassle of storing gold assets and keeping them secure against theft or loss. These investments are held in dematerialised or electronic form.
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,521.00 0.00 (0.00%) | ₹5,061.10 0.00 (0.00%) |
08 Mar 2023 | ₹5,521.00 -10.00 (-0.18%) | ₹5,061.10 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
06 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
05 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
04 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
03 Mar 2023 | ₹5,531.00 15.00 (0.27%) | ₹5,070.27 13.75 (0.23%) |
02 Mar 2023 | ₹5,516.00 16.00 (0.29%) | ₹5,056.52 14.67 (0.24%) |
01 Mar 2023 | ₹5,500.00 11.00 (0.20%) | ₹5,041.85 10.08 (0.17%) |
28 Feb 2023 | ₹5,489.00 -16.00 (-0.29%) | ₹5,031.77 -14.67 (-0.24%) |
Many other factors may contribute to fluctuations in the gold rate in Bhiwandi, such as changes in import duty, stock market volatility, currency fluctuations, etc. However, the most critical aspect related to this yellow metal is supply-demand. A rise in the demand for gold may directly boost its rate.
Gold purity is measured in Karats (K), with 24K being the purest form of gold. 24K gold is 99.9% pure and is commonly used in the production of coins and bars. Because 24K is too soft, it cannot be used to make jewellery. As a result, 22 parts pure gold are mixed with 2 parts other metals such as silver, copper, and zinc, resulting in a harder and more durable alloy. This gold is referred to as 22-karat gold or 916 gold (owing to its purity).
Gold may also bear specific stamps such as 999, 916, 750, and so on. These stamps represent the purity of gold:
Why should I invest in gold?
Gold is widely considered as a safe haven asset and a hedge against inflation. Investing in gold can help diversify an investment portfolio and provide a stable source of return during times of economic uncertainty.
How does the price of gold in Bhiwandi compare with other cities in India?
Is it better to buy gold coins or bars for investment purposes?
Should I consider investing in gold through gold exchange-traded funds (ETFs)?
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.