Last updated on: 29th Jan 2023 9:00 AM
Dhamtari in Chattisgarh is on the banks of Mahanadi and its tributaries. The ancient city was the dwelling of the Chalukyas around the 14th city and is just 300 km from Raipur. The tribal town attracts the maximum number of tourists during the rainy season. A primary attraction in the city is its tribal hamlets and culture, the Ravi Shankar or Gangrel dam which is the most beautiful site at sunset and its temples.
There is a demand for gold throughout the year. However, the people of Dhamtari consider gold purchases auspicious during festivals, so gold rates are generally high during such times in the city.
If you are investing in gold coins, biscuits or bars; choose 24K, which is the maximum purity. However, if you want to buy heavy gold ornaments, you can invest in 22K gold as they are durable, and the jeweller can mould them into intricate patterns. 18K gold is best when you make gold jewellery with diamonds, and other precious stones, for it holds better and protects the stone from falling off.
To evaluate gold jewellery in Dhamtari, checks its hallmark, and you will find the purity grade in the tiny triangular logo. The BIS mark also contains the identification of the hallmarking agency and jewellery and the year of the hallmark.
After the Goods and services tax by the Government of India, gold rates in Dhamtari rose by approximately 0.75%. As per the GST structure, varying tax rates apply on making charges of ornaments and the value of gold.
Taxes applicable as per the GST structure are as follows:
As gold importers under the GST regime do not pay the 10% import duty on gold imports, there is an increase in imports.
As the purchaser must pay GST up to 5% on making charges, investors began to invest in 24K gold coins, biscuits and bars instead of ornaments.
|Day||24K Gold||22K Gold|
|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
|27 Jan 2023|
|26 Jan 2023|
|25 Jan 2023|
|24 Jan 2023|
|23 Jan 2023|
|22 Jan 2023|
|21 Jan 2023|
Many factors influence gold rates in Dhamtari. However, the most significant one is demand and supply. Dhamtari has many temples and is a well-known tourist centre that attracts devotees and tourists annually. Thus there is always a demand for gold in the city, and the rates are generally steadily increasing.
Dhamtari's gold market depends on cultural and religious beliefs. The people of Dhamtari buy gold for weddings and festivals, as they consider it auspicious. But there are times when they believe the gold purchase can bring misfortune, and they refrain from buying the precious metal. Thus gold prices in Dhamtari fluctuate.
Gold is the much-preferred metal among the people of India. And with the depletion of gold reserves in the country and the heavy demand for it from most cities, including Dhamtari, India imports the precious metal from:
|Day||24K Gold||22K Gold|
|01 January 2023||5411||5153|
|30 January 2023||5626||5358|
Gold is in its natural form and has the characteristic gold sheen. It is of maximum purity grade (24K), and its excellent for investment purposes. Gold coins and biscuits comprise 24 parts or 100% gold or 24K gold.
However, it is a malleable metal that is challenging to mould into intricate patterns. Thus jewellers mix 22 parts or 91.67% gold and 8.33% alloy like nickel, copper, silver, etc. Ornamental gold is hence of a lower purity grade or 22K.
So, a gram of 24K gold is more expensive than a gram of 22K gold.
From ancient times there has been a practice of investing in gold, and investors find it a safe place to park their funds. Here are the reasons why gold is still a better form of investment in comparison with the others :
What should I check while buying gold in Dhamtari?
What are the factors that influence gold rates in Dhamtari?
Is gold a worthwhile investment in Dhamtari?
Why do gold prices in Dhamtari fall when the US dollar is steady and strong?
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