Gold rate in Chandigarh
gold rate in chandigarh

24K Gold/ 10gm
56,440.00
0.00(0.00%)
22K Gold/ 10gm
53,750.00
0.00(0.00%)

Last updated on: 29th Jan 2023 9:00 AM

Chandigarh is the state capital of both Punjab and Haryana. The Rock Garden, a park with sculptures made of stone and repurposed ceramics, is one of Chandigarh's most popular tourist attractions.

Like most of India, the consumption of gold is relatively high in Chandigarh. Gold is regarded as a secure investment asset and a desirable security form for bank loans. The people of Chandigarh usually buy gold during festivals and other auspicious occasions. Thus, during such times, there is a rise in the demand for gold, and consequently, the gold rates rise.

Before buying gold, check the prices, as the gold rates change daily.

22K & 24K Gold Rates Per Gram in Chandigarh

24K
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GramYesterdayToday
1gm
5,644.00
0.00 (0.00%)
5,644.00
0.00 (0.00%)
8gm
45,152.00
0.00 (0.00%)
45,152.00
0.00 (0.00%)
10gm
56,440.00
0.00 (0.00%)
56,440.00
0.00 (0.00%)
100gm
5,64,400.00
0.00 (0.00%)
5,64,400.00
0.00 (0.00%)

Factors Affecting Gold Prices In Chandigarh

 

  1. Inflation: The country's purchasing power declines when there is inflation because there is less money available for spending. Gold has a long history of proving to be a secure hedge against inflation. It is the best alternative for anyone looking for investments that offer steady returns. Thus, during inflation, people park their money in gold investments and the price of gold rises.
  2. Changes in Fixed Deposit (FD) Interest Rates: Changes in interest rates affect gold prices, just as it impacts other financial instruments like bank deposits. The price of gold is inversely correlated with interest rates. When interest rates increase, buyers sell their gold holdings and flock towards FDs as they turn into high-yielding investments. On the other hand, demand for gold increases when interest rates drop because more people are more likely to purchase gold articles with cash in hand.
  3. Demand And Supply: A rise in demand leads the price of a commodity to rise. The gold rate is subject to the same law. When there is a spike in demand for gold during the wedding and festive seasons but supply is limited, the price of gold also rises dramatically.
  4. International Market Fluctuations: The global gold trade is carried out in US dollars. Also, since India imports most of its gold from other nations, any change in global gold rates impacts the price of gold in Chandigarh. The price would grow in line with an increase in the price of gold in the international market.

Historical gold rates in Chandigarh in last 10 days

1 gram
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Day24K Gold22K Gold
30 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
29 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
28 Jan 2023
5,644.00
16.00 (0.29%)
5,375.00
15.00 (0.28%)
27 Jan 2023
5,628.00
-63.00 (-1.10%)
5,360.00
-60.00 (-1.10%)
26 Jan 2023
5,691.00
42.00 (0.75%)
5,420.00
40.00 (0.75%)
25 Jan 2023
5,649.00
0.00 (0.00%)
5,380.00
0.00 (0.00%)
24 Jan 2023
5,649.00
37.00 (0.66%)
5,380.00
35.00 (0.66%)
23 Jan 2023
5,612.00
10.00 (0.18%)
5,345.00
10.00 (0.19%)
22 Jan 2023
5,602.00
0.00 (0.00%)
5,335.00
0.00 (0.00%)
21 Jan 2023
5,602.00
-10.00 (-0.17%)
5,335.00
-10.00 (-0.18%)

Investment Options For Gold In Chandigarh

 

Gold has a highly distinctive investment portfolio. Although most Indians prefer to buy gold jewellery or coins, newer investment avenues have now cropped up in Chandigarh. Let us look at some of those - 

  • Gold Bullions: Bullions are comparatively larger than gold coins. They are often bought in kilograms. 
  • Gold Exchange-Traded Funds (ETFs): These funds store gold in dematerialised form. They can be traded on stock changes and offer high liquidity. 1 gold ETF unit = 1 gram of gold.
  • Sovereign Gold Bonds (SGBs): These contracts are regularly launched by the Government of India, but only for a specific time frame. You can purchase these at the time of issue via cash and redeem them for cash upon maturity.
  • Digital Gold: Numerous payment platforms like PayTM and PhonePe allow you to invest in digital gold. You can invest for as low as ₹1 simply from the convenience of your home. 

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

Impact Of Taxes on Gold Rates In Chandigarh

 

The Goods and Services Tax (GST) was introduced in 2017. Currently, you have to pay 3% GST on all gold purchases. The rate for making charges, which are labour expenses related to the production of gold jewellery, is 5%.

Additionally, three types of import duties are applicable to gold imports to India - 

  • Customs Duty - 12.5%
  • Agriculture Infrastructure and Development Cess (AIDC) - 2.5%
  • Social Welfare Surcharge - 10% of Customs Duty

Thus, once all these taxes are added to your gold bill, the total cost rises significantly.

Trend of Gold rates in Chandigarh

1 gram
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Day24K Gold22K Gold
01 January 202354295170
30 January 202356445375
Highest56915420
Lowest54025145

Understanding 916 Hallmarked Gold in Chandigarh

 

The purity of gold is evaluated based on karats (K). 24-karat is the purest form of gold available in the market. It has a purity level of 99.99%.

The other most common type of gold is 22-karat. 22K gold contains 91.67% pure gold mixed with trace amounts of silver, copper and zinc. Adding these metals imparts gold the hardness required to be moulded into intricate jewellery designs. Owing to its purity level, 22-karat gold is commonly known as 916 gold.

The Bureau of Indian Standards (BIS) carries out the authentication of gold articles in India. Once the purity of gold is evaluated, the BIS inscribes a hallmark on the gold item.

When you go to buy gold jewellery in Chandigarh jewellery stores, look out for the 22K916 hallmark on the jewellery. This will indicate that the jewellery has been authenticated by BIS and is made of authentic 22-karat gold.

FAQs of Gold price in Chandigarh

How many grams of gold is one 'tola?'

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Which are the top jewellers in Chandigarh?

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What hallmarks should I check for before buying gold in Chandigarh?

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Which one should I prefer 22-karat or 24-karat gold?

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