Gold Rate Today in Dispur

Dispur is the capital city of the tea state Assam and has many tourist locations in and around it. Dispur became a capital city in 1973 and is the seat of power of the state government. As a city of great importance, the city's economy is also on the rise, with the Guwahati Tea Auction centre as a tea trading centre that is always bustling and Assam being one of the largest tea-producing states.
In the northeast, Dispur does not lag; gold is the favourite yellow metal for the people here. Generally bought in the form of ornaments and jewellery, the gold rates in the city are determined like the rest of India. Market trading of gold though not fully developed, some people do delve into it as a market investment option. If you also wish to start investing in gold, then read on to learn more about gold rates in Dispur and the various investment options available.

Purity of Gold Available in Dispur

Apart from the factors determining gold prices, one must know about the purity of the gold they purchase. The purity of gold is an essential factor to consider while buying gold.
 

Gold is available in 24K in its purest form, but it is unsuitable for jewellery making. Therefore, gold in the form of jewellery is sold at 22K or 18K value of gold and should be hallmarked.
 

Hallmarked gold is approved by the Bureau of Indian Standards (BIS), making it authentic. Most jewellery shops sell hallmarked jewellery; however, one should check the mark on the piece. It must have the BIS logo and the purity of the gold (916) carved.
 

Jewellery shops also provide various gold schemes that one can go for example, save money in the bank of the jeweller for a year and then purchase gold from them with a particular value added to their account by the jeweller. Dispur is the capital city with many noted jewellery shops providing these schemes to the people which one can explore.

GST on Gold

Goods and services tax (GST) started being levied on goods and services in July 2017. Gold in its pure form and gold-related jewellery, under the category of goods, has a tax rate set at 3% with an additional 5% on making charges. The taxing on gold makes it more transparent in the manufacturing and commodity market, thus making it more viable as an investment option in the country and internationally.

What Are the Factors Affecting Gold Rates?

Here are some crucial factors affecting gold rates in Dispur today:

Demand and Supply

Gold prices are determined by the demand for the metal and the supply in the market at a certain time. One of the major reasons why gold prices may increase during festivals or auspicious occasions is the increase in the demand for gold. It likely decreases when the demand is less among the buyers of gold. Gold is bought during the wedding season, followed by different cultures in India, which affects gold prices too.

Interest Rates

The interest rates also determine the gold prices. The RBI monitors the market and sets the interest rates according to the monetary policies. People tend to invest in gold when the interest rate is less, as it is considered a safe investment without any major market risk.

Economic Conditions

Economic conditions like inflation, recession, and other economic crises affect gold prices, as people may choose to invest in gold during these times. It increases the demand leading to a hiked gold price.
Other conditions, like a natural calamity, can also affect the prices of the yellow metal during unforeseen contingencies. Knowing the factors helps the buyer make an informed decision about gold purchasing.
Globally, the value of gold can be measured by the amount of gold reserved in the countries' central banks or monetary authorities.