Gold rate in Bhusawal
gold rate in bhusawal

24K Gold/ 10gm
57,260.00
0.00(0.00%)
22K Gold/ 10gm
54,530.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Bhusawal, located in Maharashtra, is the largest municipal council in Jalgaon. It has excellent rail connectivity with Allahabad and Kolkata. It is one of the renowned commercial areas for growing cotton and is one of the largest producers of bananas. 

Gold is considered to be one of the precious metals in Bhusawal. Women have a strong fascination for purchasing gold jewellery. Investing in gold has never lost its importance despite so many other investment sources in the market. Read on to understand the factors influencing gold rates in Bhusawal and its current prevailing prices.

22K & 24K Gold Rates Per Gram in Bhusawal

24K
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GramYesterdayToday
1gm
5,726.00
0.00 (0.00%)
5,726.00
0.00 (0.00%)
8gm
45,808.00
0.00 (0.00%)
45,808.00
0.00 (0.00%)
10gm
57,260.00
0.00 (0.00%)
57,260.00
0.00 (0.00%)
100gm
5,72,600.00
0.00 (0.00%)
5,72,600.00
0.00 (0.00%)

Factors Influencing Gold Prices in Bhusawal

Numerous factors affect the prices of gold in Bhusawal. Some of them are discussed below -

Inflation

The prices of gold change with inflation. This is the reason why people prefer to invest in gold. During the time of inflation, people use gold as a hedging tool since it provides stability for a long period. 

Demand and Supply

The concept of demand and supply plays an important role in determining the prices of all the traded commodities. When the demand for gold increases, its prices also increase to handle the scarcity of its supply. 

Import Duty 

Custom duty is levied when gold is imported into our country. When this custom duty is increased due to government policies, the final market price of gold also increases in Bhusawal.

U.S Dollar

Gold is an internationally traded commodity. Most countries, including India, buy gold in the U.S. currency. This means the value of the U.S. dollar has a direct or indirect impact on gold prices. In India, the relation could be inversely proportional; when the dollar is weak, India could buy gold at a lower price. Hence, the strength of U.S dollars also affects gold prices in India.

International Relations

When the relationship between two countries is affected, it could halt or negatively impact the smoother import and export of gold. This, in turn, may spike the gold rates.

Historical gold rates in Bhusawal in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
03 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
02 Feb 2023
5,726.00
90.00 (1.60%)
5,453.00
85.00 (1.59%)
01 Feb 2023
5,636.00
26.00 (0.47%)
5,368.00
25.00 (0.47%)
31 Jan 2023
5,610.00
-16.00 (-0.28%)
5,343.00
-15.00 (-0.27%)
30 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
29 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
28 Jan 2023
5,626.00
16.00 (0.29%)
5,358.00
15.00 (0.29%)
27 Jan 2023
5,610.00
-63.00 (-1.11%)
5,343.00
-60.00 (-1.11%)
26 Jan 2023
5,673.00
42.00 (0.75%)
5,403.00
40.00 (0.75%)

How is the Purity of Gold Evaluated in Bhusawal

Before buying gold in Bhusawal, you must know the signs to check its purity. Some of such signs are as follows: -

  • BIS Logo - The gold tested and verified in the labs certified with BIS has the BIS logo. You must always check this logo on the gold you purchase. 
  • Purity in Karat - The karat number is always there on the surface of the jewellery, as indicated by BIS. It indicates the purity of the gold as certified by BIS. The suitable karat for gold jewellery is 22K.
  • Identification mark of Jeweller - The jeweller also puts its seal on the jewellery, known as the identification mark. You can check the list of certified jewellers from the BIS website.

Weekly & monthly gold rate in Bhusawal
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Impact of GST on Gold Rate in Bhusawal

GST was introduced in India on 1st July 2017. Since its introduction, it has resulted in an increase in gold prices in Bhusawal. GST is levied on gold at the rate of 3%, and import duty is applied at the rate of 10%. In addition to this, GST is also charged on the making of gold jewellery. This rate of GST levied is 5%.

Trend of Gold rates in Bhusawal

1 gram
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Day24K Gold22K Gold
01 February 202356365368
07 February 202300
Highest57265453
Lowest56365368

24K vs 22K Gold: Which is better?

Gold is purchased for various purposes, which mainly include jewellery and investing. Whenever you visit jewellery stores in Bhusawal, you can choose between 24K and 22K gold. 

'K' in this is known as Karat, which is used to measure the purity of gold. The higher measure of karat in gold denotes higher purity and vice versa. Of all the grades of gold, 24K is the purest form of gold as it is not mixed with any other metal. However, it is not used for jewellery as it is too soft. 

22K gold is used for making jewellery. It is mixed with metals such as zinc and copper but in very small quantities. It is harder than 24K gold and is known as 916 gold, meaning 91.6% purity.

FAQs of Gold price in Bhusawal

Is investing in gold a safe option?

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What are the factors influencing gold in Bhusawal?

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What is 1 tola of gold?

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What is the GST on making charges of gold jewellery?

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